Wealth management for high-net-worth families has grown increasingly complex. For some families, the responsibility of wealth management has shifted to younger generations who have less experience investing. For other families, the early liquidation of businesses has created uncertainty for mid-career professionals who face new investments or major life decisions. In this program, you will gain an in-depth understanding of best practices in family wealth management; explore the governance, structure, and investment challenges that are unique to families; and discover new approaches for managing and preserving family wealth.

Key Benefits

Successful family offices are adept at managing the tension and interplay between family dynamics and investment decisions. This program will equip you with the tools to address these specific challenges and deepen your understanding of investment opportunities for high-net-worth families. You will emerge with the competence and confidence to design a wealth management strategy and structure that effectively meets your family's goals.

DetailsExpand All Collapse All

Gain insights to build a professional family office Gain insights to build a professional family office

Establish the right structure, governance, and organizational design for a family office
Make savvier financial decisions based on a deeper understanding of family wealth management
Set clear goals that reflect the family's priorities and principles

Find solutions to your wealth management challenges Find solutions to your wealth management challenges

Develop an action plan for initiating an intergenerational transfer
Implement best practices for separating operating assets and family office assets
Make key hires or use outsourcing to address skills gaps

Explore the full range of investment opportunities Explore the full range of investment opportunities

Apply frameworks for evaluating unique investment opportunities for family real estate, niche assets, emerging markets, public market ideas, and startup/venture-backed investments
Determine whether (and how) to pursue opportunities in private equity
Stay informed about investing in frontier asset classes

Analyze philanthropic opportunities and partnerships Analyze philanthropic opportunities and partnerships

Evaluate philanthropic pursuits and partnership opportunities
Consider the pros and cons of strategies such as impact investing
Discover other ways of investing for impact, such as via endowment models

Expand your personal and professional network Expand your personal and professional network

Extend your network by living and working with accomplished executives from various backgrounds, industries, and countries around the globe
Build relationships with a diverse group of peers who can provide wide-ranging insights into your business challenges and career decisions

Key Benefits

Details

Gain insights to build a professional family office

Establish the right structure, governance, and organizational design for a family office
Make savvier financial decisions based on a deeper understanding of family wealth management
Set clear goals that reflect the family's priorities and principles

Find solutions to your wealth management challenges

Develop an action plan for initiating an intergenerational transfer
Implement best practices for separating operating assets and family office assets
Make key hires or use outsourcing to address skills gaps

Explore the full range of investment opportunities

Apply frameworks for evaluating unique investment opportunities for family real estate, niche assets, emerging markets, public market ideas, and startup/venture-backed investments
Determine whether (and how) to pursue opportunities in private equity
Stay informed about investing in frontier asset classes

Analyze philanthropic opportunities and partnerships

Evaluate philanthropic pursuits and partnership opportunities
Consider the pros and cons of strategies such as impact investing
Discover other ways of investing for impact, such as via endowment models

Expand your personal and professional network

Extend your network by living and working with accomplished executives from various backgrounds, industries, and countries around the globe
Build relationships with a diverse group of peers who can provide wide-ranging insights into your business challenges and career decisions

Who Should Attend

Executives from a family office or wealth management office
Family business owners, beneficial owners, and other family members, including children of the business leaders and their spouses/partners
Particularly appropriate for chief investment officers, chief executive officers, investment managers, or top family business leaders
Also appropriate for family members with a range of financial acumen—from expert to novice
Not appropriate for investors who are not representing a family's interests

Attendance by multiple company representatives or family members is encouraged but not required.

Dive Deeper into the Experience

We Celebrate New Ways of Thinking. Are You Ready?

Thrive in a learning environment that welcomes diverse ideas and perspectives.

Experience the Case Method in the Classroom

Watch participants debate the issues and present their viewpoints.

Discover more about business. And yourself.

Global perspectives > Leadership growth > Organizational impact.

Who Should Attend: Executives from a family office or wealth management office

Family business owners, beneficial owners, and other family members, including children of the business leaders and their spouses/partners

Particularly appropriate for chief investment officers, chief executive officers, investment managers, or top family business leaders

Also appropriate for family members with a range of financial acumen—from expert to novice

Not appropriate for investors who are not representing a family's interests

Attendance by multiple company representatives or family members is encouraged but not required.

Dive Deeper into the Experience

We Celebrate New Ways of Thinking. Are You Ready?

Thrive in a learning environment that welcomes diverse ideas and perspectives.

Learn More Learn More

Experience the Case Method in the Classroom

Watch participants debate the issues and present their viewpoints.

Learn More Learn More

Discover more about business. And yourself.

Global perspectives > Leadership growth > Organizational impact.

Learn More Learn More

Learning and Living at HBS

When you participate in an Executive Education program on the HBS campus, you enter an immersive experience where every aspect of the learning model has been carefully designed to facilitate your growth. Your learning will take place on your own, in your living group, and in the larger classroom, driven by the renowned HBS case method.

Learning and Living at HBS: When you participate in an Executive Education program on the HBS campus, you enter an immersive experience where every aspect of the learning model has been carefully designed to facilitate your growth. Your learning will take place on your own, in your living group, and in the larger classroom, driven by the renowned HBS case method.

Admissions Criteria and Process

We admit candidates to specific sessions on a rolling, space-available basis, and encourage you to apply as early as possible. Although most programs have no formal educational requirements, admission is a selective process based on your professional achievement and organizational responsibilities.

Admissions Criteria and Process

Answering Your Questions

Our Program Advising team can help you at any stage of the admissions process—starting with identifying the program that best addresses your learning and development goals. Contact a program advisor via email or call 1.800.427.5577 (outside the U.S., call +1.617.495.6555).

Application Submission

We recommend that you apply at least four weeks before the program start date. You may use our online form or download an application. HBS maintains all application information in strict confidentiality. We acknowledge receipt of applications via email. In the unlikely event that you do not receive an acknowledgment, please email us at exed_admissions@hbs.edu or call us at +1.617.495.6226.

Application Review

To optimize the learning experience and maximize the exchange of ideas, our Admissions Committee makes selections that balance each participant's experience, scope of current responsibilities, and type of organization. HBS seeks candidates who reflect a broad range of industries, functions, countries, and backgrounds. We review applications monthly and will contact you via email with the Admissions Committee's decision.

Fee, Payment, and Cancellations

The program fee covers tuition, books, case materials, accommodations, and most meals. No payment is necessary until you have been accepted. Payment is required prior to the program start date. If you need to cancel or defer participation, you must submit your request in writing more than 30 days before the start of the program to receive a full refund. Cancellations or deferrals received 14 to 30 days prior to the start of the program are subject to a fee of one-half of the program fee. Requests received within 14 days are subject to full payment.

What You Will Learn

Your rich learning experience will include faculty presentations, case studies, and small-group discussions. To broaden your global perspective, the program will cover cases about established family offices around the world.

Key TopicsExpand All Collapse All

Family wealth goals and structure Family wealth goals and structure

Setting goals for wealth preservation, wealth maximization, and foundations
Managing intergenerational wealth transfers in business families
Balancing the spending and investment needs of the family
Hiring in-house experts or teams versus outsourcing wealth management
Optimizing governance, structures, and organizational design

Family office portfolio management Family office portfolio management

Exploring applications of modern asset allocation, portfolio management, and the "endowment model" of investing
Managing life and investments after a liquidity event
Applying family preferences and social goals in an investment strategy
Managing risk and integrating a more professional approach
Preparing for the role of future generations in family wealth management

Family office investment opportunities and strategies Family office investment opportunities and strategies

Building a toolkit and framework for analyzing a range of investment strategies, including direct investments, indirect investments, and unique investment opportunities
Understanding the sources of risk in value investing
Evaluating direct private investments, private equity, venture capital, and frontier asset classes
Managing headline risk and privacy

Impact investing and partnerships Impact investing and partnerships

Identifying the best partners to engage with and partners to avoid
Exploring the pitfalls and advantages of government partnerships
Measuring impact and performance in philanthropy and impact investing

Key Topics

Family wealth goals and structure

Setting goals for wealth preservation, wealth maximization, and foundations
Managing intergenerational wealth transfers in business families
Balancing the spending and investment needs of the family
Hiring in-house experts or teams versus outsourcing wealth management
Optimizing governance, structures, and organizational design

Family office portfolio management

Exploring applications of modern asset allocation, portfolio management, and the "endowment model" of investing
Managing life and investments after a liquidity event
Applying family preferences and social goals in an investment strategy
Managing risk and integrating a more professional approach
Preparing for the role of future generations in family wealth management

Family office investment opportunities and strategies

Building a toolkit and framework for analyzing a range of investment strategies, including direct investments, indirect investments, and unique investment opportunities
Understanding the sources of risk in value investing
Evaluating direct private investments, private equity, venture capital, and frontier asset classes
Managing headline risk and privacy

Impact investing and partnerships

Identifying the best partners to engage with and partners to avoid
Exploring the pitfalls and advantages of government partnerships
Measuring impact and performance in philanthropy and impact investing

The HBS Advantage

Our Executive Education programs are developed and taught by HBS faculty who are widely recognized as skilled educators, groundbreaking researchers, and award-winning authors. Through their board memberships, consulting, and field-based research, they address the complex challenges facing business leaders across the globe

Faculty Cochair

Lauren H. Cohen

L.E. Simmons Professor of Business Administration. Member of the Finance and the Entrepreneurial Management Units; and faculty cochair of “Building A Legacy: Family Office Wealth Management.”

Read Full Bio

Manage wealth to leave a legacy for the future.

Christopher J. Malloy

Sylvan C. Coleman Professor of Financial Management. Member of the Finance and Entrepreneurial Management Units; and faculty cochair of "Building A Legacy: Family Office Wealth Management".

Read Full Bio

Manage wealth to leave a legacy for the future.

Faculty

David L. Ager

Senior Fellow in Executive Education. Managing Director, Executive Development, Executive Education. Faculty cochair of "Families in Business."

Read Full Bio

Edward B. Berk

Senior Lecturer of Business Administration. Member of the Finance Unit.

Read Full Bio

Ramana Nanda

Sarofim-Rock Professor of Business Administration. Member of the Entrepreneurial Management Unit.

Read Full Bio

André F. Perold

George Gund Professor of Finance and Banking, Emeritus. Faculty cochair of the "Investment Management Workshop".

Read Full Bio

Boris Vallée

Assistant Professor of Business Administration. Member of the Finance Unit.

Read Full Bio

Christina R. Wing

Senior Lecturer of Business Administration. Member of the Technology and Operations Management Unit; and faculty cochair of "Families in Business."

Read Full Bio

The HBS Advantage: Our Executive Education programs are developed and taught by HBS faculty who are widely recognized as skilled educators, groundbreaking researchers, and award-winning authors. Through their board memberships, consulting, and field-based research, they address the complex challenges facing business leaders across the globe

Faculty Cochair

Lauren H. Cohen

L.E. Simmons Professor of Business Administration. Member of the Finance and the Entrepreneurial Management Units; and faculty cochair of “Building A Legacy: Family Office Wealth Management.”

Read Full Bio
Manage wealth to leave a legacy for the future.
Read More

Christopher J. Malloy

Sylvan C. Coleman Professor of Financial Management. Member of the Finance and Entrepreneurial Management Units; and faculty cochair of "Building A Legacy: Family Office Wealth Management".

Read Full Bio
Manage wealth to leave a legacy for the future.
Read More

Faculty

David L. Ager

Senior Fellow in Executive Education. Managing Director, Executive Development, Executive Education. Faculty cochair of "Families in Business."

Read Full Bio

Edward B. Berk

Senior Lecturer of Business Administration. Member of the Finance Unit.

Read Full Bio

Ramana Nanda

Sarofim-Rock Professor of Business Administration. Member of the Entrepreneurial Management Unit.

Read Full Bio

André F. Perold

George Gund Professor of Finance and Banking, Emeritus. Faculty cochair of the "Investment Management Workshop".

Read Full Bio

Boris Vallée

Assistant Professor of Business Administration. Member of the Finance Unit.

Read Full Bio

Christina R. Wing

Senior Lecturer of Business Administration. Member of the Technology and Operations Management Unit; and faculty cochair of "Families in Business."

Read Full Bio