The Alliance U, a new education program launched last May by the Family Wealth Alliance, said it has successfully concluded its two opening sessions at the University of Chicago’s Gleacher Center, saying the feedback from clients has underscored the importance of such training in this growing area.

A total of 52 professionals participated from across the US, Alliance U said. (To view more on Alliance U, click here).

“In Alliance U, Family Wealth Alliance has created a sophisticated, intimate, learning environment that is stimulating for students and faculty alike,” faculty member Gregory Curtis of Greycourt & Co said, “I highly recommend it to anyone who works with, or wants to work with, substantial families.” 

The launch of Alliance U came at a time when the wealth management industry has been looking to step up efforts to educate and train talent to deal with skill bottlenecks. In some regions, such as the Indian subcontinent and Asia, skill shortages have been a regular talking point in wealth management. As for HNW investors’ financial education needs, the Wharton business school launched a wealth preservation program in 2008 for high net worth investors, for example.

The Alliance U three-day curriculum was designed as a “sampler” of best practices for family office relationship managers. The course comprised 12 90-minute sessions, a case study group presentation, and a final “Putting it All Together” session presented by Jamie McLaughlin, former CEO of Geller & Company.

The opening session is a precursor to the in-depth two-year course planned for its graduates and covers a range of topics, from estate planning, asset protection, fiduciary duties and trust services to risk management, consolidated reporting, family governance, and life planning. 

Students finishing the opening sessions are awarded a certificate of completion.  They are then eligible to apply for the in-depth, two-year multi-disciplinary program which is expected to commence in 2010 and conclude with the granting of a professional designation in family office relationship management to successful graduates.

Family Wealth Alliance (Alliance U) is a CFP Board-Registered CE Sponsor and prospective attendees are advised that 23 continuing education hours have been accepted by the CFP Board for successful completion of the program.