2025 CFA Program Curriculum Level III Private Wealth Pathway Box Set (eBook)

eBook Download: EPUB

2024
1277 Seiten
Wiley (Verlag)
978-1-394-31615-1 (ISBN)

Infos

Discover the official resource for success on the 2025 CFA Level III exam. Get your copy of the CFA Program Curriculum now.

The 2025 CFA Program Curriculum Level III Box Set contains the content you need to perform well on the Level III CFA exam in 2025. Designed for candidates to use for exam preparation and professional reference purposes, this set includes the full official curriculum for Level III and is part of the larger CFA Candidate Body of Knowledge (CBOK).

Developed to prepare you for the Level III exam's heavy reliance on information synthesis and solution application within the core curriculum as well as the portfolio management, private markets and private wealth pathways, the Level III curriculum will help you master both calculation-based and word-based problems.

The 2025 CFA Program Curriculum Level III Box Set allows you to:

• Develop critical knowledge and skills essential in the industry.
• Learn from financial thought leaders.
• Access market-relevant instruction.

The set also features practice questions to assist with your mastery of key terms, concepts, and formulas. The volumes in the Level III box set are:

Core Curriculum

• Volume 1: Asset Allocation
• Volume 2: Portfolio Construction
• Volume 3: Performance Measurement
• Volume 4: Derivatives And Risk Management
• Volume 5: Ethical and Professional Standards

Private Wealth

• Volume 1: Private Wealth Pathway
• Volume 2: Private Wealth Pathway

Indispensable for anyone preparing for the 2025 Level III CFA exam, the 2025 CFA Program Curriculum Level III Box Set is a must-have resource for those seeking the advanced skills required to become a Chartered Financial Analyst.

Textauszug

Table of Contents

1. Title Page
2. Table of Contents
3. How to Use the CFA Program Curriculum
   1. CFA Institute Learning Ecosystem (LES)
   2. Designing Your Personal Study Program
   3. Errata
   4. Other Feedback
   5. Accessibility Statement for the 2025 CFA Program Curriculum
   6. Our Commitment to Accessibility Standards
   7. Ongoing Improvements
   8. Feedback
4. Private Wealth Pathway
   1. The Private Wealth Management Industry
      1. Learning Outcomes
      2. 1. Introduction
      3. 2. Industry Segments, Business Models, Strategies
         1. 2.1. A Brief History of Private Wealth Management
         2. 2.2. The Wealth Management Industry Today
            1. 2.2.1. Offshore versus onshore
         3. 2.3. Wealth Management Participants
         4. 2.4. Competitive and Strategic Drivers
            1. 2.4.1. Porter’s Analysis
               1. 2.4.1.1. Threat of New Entrants
               2. 2.4.1.2. Bargaining Power of Buyers
               3. 2.4.1.3. Bargaining Power of Suppliers
               4. 2.4.1.4. Threat of Substitutes
               5. 2.4.1.5. Intensity of Competitive Rivalry
            2. 2.4.2. Factors Influencing Specific Strategic Decisions
            3. 2.4.3. Legal, Licensing, and Technology
            4. 2.4.4. Client Acquisition and Retention
            5. 2.4.5. Implementation Strategies
            6. 2.4.6. Services and Product Range
         5. 2.5. Private Client Segmentation
            1. 2.5.1. Wealth-based segmentation
      4. 3. Fee, Revenue, and Compensation Structures
         1. 3.1. Business Models and Industry Drivers
            1. 3.1.1. External Drivers Impacting Revenues: Industry Trends
            2. 3.1.2. Internal Drivers Impacting Revenues: Growth Strategies
         2. 3.2. Pricing Strategies and Characteristics
            1. 3.2.1. Types of Fees
            2. 3.2.2. Asset-Based Fees
            3. 3.2.3. Transaction-Based Fees
            4. 3.2.4. Interest and Margin-Based Fees
            5. 3.2.5. Service and Maintenance Fees
            6. 3.2.6. Additional Fees
         3. 3.3. Compensation Models for Wealth Managers
            1. 3.3.1. Wealth Manager Remuneration Models
            2. 3.3.2. Fixed Remuneration
            3. 3.3.3. Variable Remuneration
            4. 3.3.4. Long-Term Incentives, Deferred Pay, or Equity Participation
            5. 3.3.5. Fringe Benefits
      5. 4. The Role of Other Advisers and Consultants
         1. 4.1. Advisers Supporting Private Wealth Managers
            1. 4.1.1. Professional Services in Wealth Planning
               1. 4.1.1.1. Lawyers
               2. 4.1.1.2. Expatriation and Relocation Services
               3. 4.1.1.3. Tax Advisers
               4. 4.1.1.4. Personal Banking Services
               5. 4.1.1.5. Commercial Banking
               6. 4.1.1.6. Investment Banking
               7. 4.1.1.7. Mergers and Acquisitions (M&A) Advisory
               8. 4.1.1.8. Capital Raising
               9. 4.1.1.9. Exit Strategies
               10. 4.1.1.10. Investment Opportunities
               11. 4.1.1.11. Accountants
               12. 4.1.1.12. Other Specialized Consultants Involved in Wealth Planning
            2. 4.1.2. Custodians
            3. 4.1.3. Insurance Specialists
               1. 4.1.3.1. Investment-Oriented Insurance Products
               2. 4.1.3.2. Specialized Liability and High-Value Asset Insurance
               3. 4.1.3.3. Unique Risks: Kidnap and Ransom Insurance
               4. 4.1.3.4. Portfolio Diversification and Investment Management Implications
            4. 4.1.4. Support Professionals for the Wealthy
               1. 4.1.4.1. Health and Well-Being
               2. 4.1.4.2. Property and Lifestyle Management
               3. 4.1.4.3. Education and Skill Development
               4. 4.1.4.4. Office and Administrative Support
               5. 4.1.4.5. The Synergy with Wealth Management
            5. 4.1.5. Engagement and Management of Advisers
      6. 5. Global Regulatory Principles
         1. 5.1. Ethics, Laws, Regulations, and The Practice of Wealth Management
         2. 5.2. CFA Ethics and the CFA Institute Asset Manager Code
         3. 5.3. The AMC and The Global Legal and Regulatory Landscape
         4. 5.4. Developing Policies for Risk Management, Compliance, and Support.
      7. References
      8. Practice Problems
      9. Solutions
   2. Working With the Wealthy
      1. Learning Outcomes
      2. 1. Introduction
      3. 2. Wealth in Human Dynamics
         1. 2.1. Introduction
         2. 2.2. Family and Human Dynamics
         3. 2.3. Family Firms and Acquired Wealth
         4. 2.4. Understanding Families in a Cultural Context
         5. 2.5. Rational Behavior and Behavioral Economics
         6. 2.6. Transition Planning and the Need for a Will
      4. 3. Client Profiles and Acquisition
         1. 3.1. Introduction
         2. 3.2. Client Segmentation across Demographic Characteristics
         3. 3.3. Ethical and Compliance Considerations
         4. 3.4. Client Onboarding
            1. 3.4.1. Building Trust with Clients
            2. 3.4.2. Cognition-Based Trust, Affect-Based Trust, and Empathy
            3. 3.4.3. Working with Clients to Identify Their Values and Effective Communication Strategies
            4. 3.4.4. Advisor–Client Communication Strategies
      5. 4. Ultra-High-Net-Worth Clients
         1. 4.1. Introduction
         2. 4.2. Distinctive Characteristics of UHNW Clients
         3. 4.3. Expectations of UHNW Clients
         4. 4.4. Reasons Wealthy Families Use Family Offices
         5. 4.5. Characteristics of a Family Office
         6. 4.6. Single-Family Office, Multi-Family Office, and Other Possibilities
         7. 4.7. Selecting the Right Family Office Model
      6. 5. Family Governance
         1. 5.1. Introduction
         2. 5.2. Family Governance
         3. 5.3. Structures and Processes that Support Family Governance
         4. 5.4. Steps to Develop a Family Constitution
            1. 5.4.1. Family interviews
         5. 5.5. Different Types of Money Scripts
            1. 5.5.1. Communicate the purpose and the value of a family governance structure
         6. 5.6. Moving Forward
         7. 5.7. Incorporating Tomas, Jr., and Katarina into the Family Constitution Process
         8. 5.8. Conclusion
      7. References
      8. Practice Problems
      9. Solutions
   3. Wealth Planning
      1. Learning Outcomes
      2. 1. Introduction
      3. 2. Goals-Based Planning
         1. 2.1. Planning and Human Capital
         2. 2.2. Steps in Goals-Based Planning
            1. 2.2.1. The Defining Goals of Financial Planning
            2. 2.2.2. The Prioritizing and Quantifying Goals of Financial Planning
            3. 2.2.3. Structuring Portfolios to Meet the Goals of Financial Planning
            4. 2.2.4. Managing Portfolios to Meet Financial Goals
         3. 2.3. Aligning Goals, Human Capital, and Life-Cycle Stages
         4. 2.4. Considerations towards Family Support and Wealth Transfer
      4. 3. Comprehensive Wealth Planning for Private Clients
         1. 3.1. Comprehensive Wealth Planning
            1. 3.1.1. Internally and Externally Managed Assets
         2. 3.2. Asset Structuring
            1. 3.2.1. Determining the Legal and Physical Location of Assets
            2. 3.2.2. Addressing Tax, Legal, and Other Obligations.
            3. 3.2.3. Risk Management
            4. 3.2.4. Comprehensive Assessment of Aggregate Wealth.
         3. 3.3. The Comprehensive Perspective on Internal and External Assets
      5. 4. Taxation
         1. 4.1. Forms of Taxation
         2. 4.2. Tax Status, Tax Efficiency, and Asset Location
            1. 4.2.1. Asset Location
            2. 4.2.2. Tax Efficiency
            3. 4.2.3. Tax Avoidance vs. Tax Evasion
         3. 4.3. Investor Tax Domicile and Jurisdiction
            1. 4.3.1. Main Types of International Tax Systems
      6. 5. Liquidity and Cash Flow Planning
         1. 5.1. Considerations
         2. 5.2. Income
            1. 5.2.1. Fixed Income
            2. 5.2.2. Equity
            3. 5.2.3. Alternative Assets
         3. 5.3. Spending
      7. References
      8. Practice Problems
      9. Solutions
   4. Investment Planning
      1. Learning Outcomes
      2. 1. Introduction
      3. 2. Asset Allocation
         1. 2.1. Utility Theory and Risk Tolerance
         2. 2.2. Client Conversations Regarding Risk Tolerance
         3. 2.3. Risk Tolerance with Multiple Goals
         4. 2.4. Formulating Capital Market Assumptions
         5. 2.5. Estimating the Expected Return of Fixed-Income Indices
         6. 2.6. Estimating the Expected Return of Equity Indices
         7. 2.7. Estimating the Expected Return of Other Asset Classes
         8. 2.8. Estimating the Risk of Asset Classes
         9. 2.9. Portfolio Optimization and Asset Allocation
         10. 2.10. Asset Liability Modeling and Surplus...

Produkt-Details

• Erscheint lt. Verlag: 16.10.2024
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management
• Schlagworte: cfa exam prep • cfa level 3 exam • cfa level 3 exam prep • cfa level 3 prep • cfa level 3 test • cfa level 3 test prep • cfa prep • cfa study aids • cfa study guides • cfa test prep • Chartered financial analyst exam • chartered financial analyst level iii exam • Private Wealth
• ISBN-10: 1-394-31615-1 / 1394316151
• ISBN-13: 978-1-394-31615-1 / 9781394316151