U Miami offers course in wealth-management basics

FWR Staff

16 November 2006

Program crafted to help attendees work more effectively with their advisors. The University of Miami is offering an unaccredited night-school course in wealth management for high-net-worth consumers.

The two-session "Preserving and Transferring Wealth" program aims to give individuals and families with at least $2 million a better understanding of personal wealth management "so they can learn how to ask their financial advisors the proper questions and to ensure that their goals of financial sustainability are being properly pursued," according to a University of Miami statement.

A vow

The first session focuses on maintaining a disciplined investment approach that is in line with one's own risk tolerance and objectives. The second session focuses on making sure that the greatest amount of an estate passes to the estate owner's intended beneficiaries.

The non-degree program was created by former Morgan Stanley broker Andrew Menachem, whose views on wealth management were shaped by personal experience. In his early twenties, Menachem lost his father and had to take charge of his family's financial affairs. The difficulties associated with this inspired him to make it his life work to help others reach their financial goals.

"I made a vow that I would educate anyone who would listen so they wouldn't have to go through the pain, confusion and errors that my family went through," says Menachem, who conducts the sessions at the University of Miami's Coral Gables, Fla., campus.

The course combines investment strategy with estate planning in order to bridge financial goals across many generations, according to the University of Miami's description of the continuing-education course. It was not designed for people "looking to find the 'hot stock of the day' or for day traders," the university adds in its course calendar. -FWR