CISI level Diploma or level Chartered Wealth Management Qualification Exam

1. Principles of Wealth Management • Overview of Wealth Management o Definition and scope of wealth management o Key principles and objectives in wealth management o The role of a wealth manager • Client Relationship Management o Building and maintaining client relationships o Identifying client needs and financial goals o Managing client expectations and emotions • Regulatory and Ethical Considerations o Overview of ethical standards and principles in wealth management o Role of regulation and compliance in the industry o Treating clients fairly and the importance of transparency • Wealth Management Process o Financial planning and the steps involved o Risk profiling and assessment o Product recommendations and suitability ________________________________________ 2. Financial Markets and Products • Financial Markets Overview o Structure and types of financial markets (equity, bond, money markets, etc.) o Role of exchanges and over-the-counter markets o Market participants and their functions • Investment Products and Instruments o Equities, bonds, and cash instruments o Derivatives (futures, options, swaps) o Structured products (warrants, convertibles, etc.) • Fixed Income Products o Characteristics of bonds and fixed income securities o Bond valuation and yield calculations o Credit rating systems and their impact on investment decisions • Equities and Equity Instruments o Common and preferred stock characteristics o Equity valuation techniques (P/E ratio, dividend discount models) o Dividends, capital gains, and equity risk • Alternative Investments o Real estate, commodities, private equity, hedge funds o Risk-return profiles and diversification benefits o Regulatory aspects of alternative investments ________________________________________ 3. Portfolio Management • Asset Allocation and Diversification o The importance of diversification and modern portfolio theory o Risk and return characteristics of asset classes o Asset allocation strategies and their impact on performance • Investment Strategies o Active vs. passive management o Tactical vs. strategic asset allocation o Factor-based investing (value, growth, momentum, etc.) • Portfolio Construction o Steps involved in constructing a portfolio o Risk assessment and management techniques o Performance measurement and evaluation • Risk Management and Hedging o Types of investment risk (market, credit, liquidity, etc.) o Methods for managing and mitigating risk (diversification, derivatives) o Hedging strategies (options, futures, forwards) • Performance Evaluation o Key performance metrics (Sharpe ratio, alpha, beta, etc.) o Benchmarks and peer comparison o Attribution analysis ________________________________________ 4. Investment Taxation and Legislation • Overview of Taxation o Basic tax principles (tax rates, allowances, exemptions) o Taxation of income, capital gains, and dividends o Inheritance and estate tax considerations • Taxation of Investment Products o Tax treatment of bonds, equities, and alternative investments o Tax-deferred vs. tax-efficient investment strategies o Withholding taxes on international investments • Wealth Transfer and Estate Planning o Strategies for transferring wealth to beneficiaries o Tax-efficient structures for estate planning (trusts, wills, etc.) o Inheritance laws and their impact on financial planning • Regulatory and Legislative Environment o Financial Services Compensation Scheme (FSCS) and investor protection o Money laundering regulations and Know-Your-Customer (KYC) requirements o Anti-tax evasion legislation ________________________________________ 5. Ethical and Professional Standards • Code of Ethics and Professional Standards o Key ethical principles for wealth managers o Understanding fiduciary duty and client best interest o Conflicts of interest and how to manage them • Client Confidentiality and Privacy o Protecting client information and sensitive data o Legal and ethical responsibilities regarding confidentiality o Breach of confidentiality and associated risks • Suitability and Disclosure o Ensuring the suitability of financial products for clients o Full disclosure of fees, risks, and product details o Documentation and record-keeping requirements • Professional Conduct and Competence o Continuous professional development and maintaining competence o Working with clients’ best interests in mind o Professionalism in client communication and advice ________________________________________ 6. Financial Planning and Retirement Solutions • Financial Planning Basics o Key components of a financial plan (income, assets, liabilities, etc.) o Understanding the life cycle of financial needs o Budgeting and cash flow management • Retirement Planning o Overview of pension schemes (private, state, corporate) o Retirement income planning and strategies o Taxation and tax relief in retirement plans • Wealth Accumulation Strategies o Long-term saving and investment strategies o Investment vehicles for retirement (pension plans, ISAs, annuities) o Managing inflation and longevity risks • Social Security and Government Benefits o Overview of social security and public pension systems o Integrating government benefits into retirement planning o Eligibility criteria and benefit calculation ________________________________________ 7. Behavioral Finance and Client Psychology • Principles of Behavioral Finance o Overview of behavioral biases (overconfidence, loss aversion, etc.) o How biases affect investment decisions and portfolio management o The role of emotions in financial decision-making • Client Psychology o Understanding different client personas (risk-averse, aggressive, etc.) o Managing clients with diverse financial goals and attitudes o Communication techniques to influence positive financial behaviors • Client Education o Providing educational tools and resources to clients o Ensuring clients understand their financial products and strategies o Empowering clients to make informed decisions ________________________________________ 8. Estate and Succession Planning • Principles of Estate Planning o Understanding the role of estate planning in wealth management o Key estate planning instruments (wills, trusts, powers of attorney) o Minimizing estate tax liabilities through planning • Trusts and Legal Structures o Types of trusts (revocable, irrevocable, charitable, etc.) o Role of trustees and fiduciary duties o International trust planning and offshore structures • Philanthropy and Charitable Giving o Tax-effective charitable giving strategies o Donor-advised funds and philanthropic vehicles o Creating a lasting legacy through philanthropy ________________________________________ 9. Business and Financial Modelling • Financial Modelling Techniques o Basics of financial statement analysis (income statement, balance sheet, cash flow) o Financial forecasting and projections o Valuation techniques (DCF, comparables, precedent transactions) • Business Valuation o Approaches to valuing a business (asset-based, income-based, market-based) o Key metrics in business valuation (EBITDA, net income, etc.) o Applying valuation methods in wealth management • Investment and Business Risk Assessment o Risk profiling of businesses and their financial health o Assessing industry-specific risks and external factors o Scenario analysis and stress testing ________________________________________ 10. International Wealth Management • Global Wealth Management Landscape o Key regions and markets in international wealth management o Cross-border financial planning and challenges o Currency risk and global diversification • International Investment Opportunities o Understanding global investment trends and products o Investing in emerging markets and foreign assets o Regulatory frameworks in different countries • Taxation and Legal Considerations o International tax treaties and their implications o Managing cross-border estate and inheritance issues o Offshore accounts and tax havens