Path to Preparation
In this self-paced online course, students will learn basic technical skills to succeed in the MPS in Wealth Management program at Columbia University. The course will address how to use a financial calculator, basic finance calculations, statistics fundamentals, accounting basics and an overview of investments. In addition, students will learn core accounting and finance concepts, including: time value of money, discounted cash flow, internal rate of return, financial ratio calculation and how to read accounting financial statements. Students will apply these skills to value equity and debt securities.
This course is optional, but students are strongly encouraged to complete it before the first semester of the MPS program begins.
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Instructor:
Michael Kothakota
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FOUNDATIONS OF WEALTH MANAGEMENT
FOUNDATIONS OF WEALTH MGM
In this course, students will explore the history and current state of the wealth
management industry and gain exposure to the fundamentals of financial planning,
including Accounting and Finance. This course will address the function, purpose,
and regulation of financial institutions, the regulations and requirements governing
financial services, and the ethical responsibilities of wealth management
professionals. This course will provide an introduction to tax concepts and trusts
and estates. Students will also learn about the major asset classes, including cash
and cash alternatives, fixed income, equities and alternative investments. In
addition, students will be able to apply core accounting and finance concepts,
including: time value of money, weighted average cost of capital, discounted cash
flow, internal rate of return, US GAAP standards, and three-statement financial
analysis. Finally, students will be provided an overview of the importance of
communication and counseling.
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Instructor:
Michael Kothakota
Info - 3 points
THE WEALTH MANAGEMENT LANDSCAPE
This course will provide an overview of the wealth management profession,
including various business models and the role of the advisor within each. Guest
speakers from across the wealth management profession will discuss the various
business models, key trends, including the intersection of technology and wealth
management and the unique nature of each client planner relationship. This course
will also highlight additional services that advisors are offering clients in order to
provide a full suite of solutions. In addition, students will discuss the role and
function of family offices, the scope of services they offer and best practices to
managing a family office.
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Instructor:
William Woodson
Info - 3 points
Wealth Management Student Community Cent
WMGT Student Community Ce
The Wealth Management Student Community Center helps facilitate remote pre-residency requirements and preparatory activities to preserve the limited in-person time we have during the residency for other activities. Given that we are a remote program, this is the most effective way to introduce, assign, inform and track new student activity prior to starting the core courses. The use of a dedicated site helps them practice using the LMS, in addition to acclimating to Columbia, the faculty and the resources. The activities in which the students participate for the residency are critical to their success in the 16-months of remote learning in which they engage. Recordings and other materials are provided to students in continuity with completed activities and the site is also used as a general communications tool with the students outside of the dedicated Canvas courses.
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FINANCIAL PSYCHOLOGY
Financial Psychology focuses on the intersection of human psychology and wealth
management and the basic elements of consumer behavior. Students will explore
all of the biases, behaviors and perceptions that impact client decision-making and
financial well-being. Most importantly, this course is specifically designed to help
prepare the advisor to better understand all of the factors that impact client
decisions in an effort to help them achieve their own personal goals.
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Instructor:
Meghaan Lurtz
Info - 3 points
ESTATE PLANNING
This course examines the key concepts and skills a wealth management
professional must understand to support making critical decisions with respect to
estate planning. Students will first be introduced to the fundamental characteristics
and consequences of property titling, before studying the components of estate
planning documentation. This course will explore the various strategies used to
transfer property and all of the factors impacting and related to the transfer
process, including gift and estate tax compliance and tax calculation, estate
liquidity, marital deduction, non-traditional relationships, and the types, features,
and taxation of trusts. Students will also explore the various techniques for
postmortem estate planning and techniques for intra-family and other business
transfers of property. The course will also begin to explore estate planning in a
global context, addressing issues and considerations that may arise.
SPECIAL TOPICS IN WEALTH MANAGEMENT: DIS
DISRUPTIVE TRENDS
Columbia SPS is on the forefront of leading issues in the Wealth Management
profession. This course is designed to explore disruptive trends in the Wealth
Management industry and the opportunities and challenges that may result. As the
profession evolves, our graduates will be prepared to be leaders within all business
models across wealth management. Topics include, but are not limited to,
technology, client psychology, ESG/sustainable investing, financial products,
evolving fee structures, shifting demographics, increased regulatory burdens,
democratization of financial advice, and more.
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Instructor:
Matthias Kuhlmey
Info - 3 points
CAPSTONE
In the fourth semester, students will develop a comprehensive financial plan based
upon a specific client case, taking all elements of a client’s financial profile into
consideration. Students will be expected to demonstrate foundational knowledge
of all aspects of the wealth management curriculum in this course in order to
develop this financial plan. The capstone experience for this program is a dualfocus
on both the written as well as the oral components of the financial plan.
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Instructor:
Jason R Papier
Info - 3 points