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 virtual 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 through a live online platform.

You may also be interested in the related in-person program: Building a Legacy: Family Office Wealth Management.

Summary

You may also be interested in the related in-person program: Building a Legacy: Family Office Wealth Management.

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 connecting 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 connecting 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.

Chief executives and family members involved in the company and looking to expand business strengths and strategies are encouraged to explore our in-person program, Families in Business.

Program for Leadership Development participants earn 2 PLDA Points on completion of this program.

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.

Chief executives and family members involved in the company and looking to expand business strengths and strategies are encouraged to explore our in-person program, Families in Business.

Program for Leadership Development participants earn 2 PLDA Points on completion of this program.

Leaders in Virtual Learning

When you participate in a virtual HBS Executive Education program, you benefit from a powerful learning experience carefully designed with a virtual setting in mind. Through live, synchronous program sessions you'll engage directly with our renowned faculty to learn from their latest research, gain actionable takeaways, and facilitate your growth. In addition, virtual discussion groups will connect you to a global group of peers and build your network.

Dive Deeper into the Experience

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Virtual Programs for Agile Organizations

Help your organization understand why there is no better time to prioritize learning & development.

Learn More

We Celebrate New Ways of Thinking. Are You Ready?

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

Discover more about business. And yourself.

Global perspectives > Leadership growth > Organizational impact.

Leaders in Virtual Learning: When you participate in a virtual HBS Executive Education program, you benefit from a powerful learning experience carefully designed with a virtual setting in mind. Through live, synchronous program sessions you'll engage directly with our renowned faculty to learn from their latest research, gain actionable takeaways, and facilitate your growth. In addition, virtual discussion groups will connect you to a global group of peers and build your network.

Dive Deeper into the Experience

Virtual Programs for Agile Organizations

Help your organization understand why there is no better time to prioritize learning & development.

Learn More

We Celebrate New Ways of Thinking. Are You Ready?

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

Watch the Video Watch the Video

Discover more about business. And yourself.

Global perspectives > Leadership growth > Organizational impact.

Watch the Video Watch the Video

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.

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, e-books, and online case materials. No payment is necessary until you have been accepted. Payment is required prior to the program start date. If you need to cancel participation, you must submit your request in writing more than 14 days before the program start date to receive a full refund. Cancellations received 7 to 14 days before the program start date are subject to a payment of 50 percent of the program fee. Requests received within 7 days of the program start date are subject to full payment of the program fee.

Admissions Criteria and Process

Answering Your Questions

Application Submission

Application Review

Fee, Payment, and Cancellations

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.

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.

Program Format

The program takes place over three weeks, with live, synchronous classes every Tuesday and Thursday (11:00 AM to 2:00 PM ET, including a 30-minute break), and small group discussions for learning and networking. Class sessions will take place via the Zoom platform. You will also have ample opportunity for interaction with faculty and peers inside and outside the class sessions.

Collaborative learning is an integral part of the experience. To maximize the benefit for everyone, you are expected to attend every session, complete all assignments, and contribute effectively in the class and in small groups. We advise setting aside a total of 5-7 hours per week for program work in addition to the synchronous class sessions.

Program Format

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 Cochairs

David L. Ager

Senior Fellow, Executive Education

Read Full Bio

Lauren H. Cohen

L.E. Simmons Professor of Business Administration

HBS Units:

Entrepreneurial Management

Finance

Read Full Bio

Faculty

Edward B. Berk

Senior Lecturer of Business Administration

HBS Unit:

Finance

Read Full Bio

Josh Lerner

Jacob H. Schiff Professor of Investment Banking

HBS Units:

Entrepreneurial Management

Finance

Read Full Bio

Nori Gerardo Lietz

Senior Lecturer of Business Administration

HBS Units:

Entrepreneurial Management

Finance

Read Full Bio

André F. Perold

George Gund Professor of Finance and Banking, Emeritus

Read Full Bio

Luis M. Viceira

George E. Bates Professor of Business Administration

HBS Unit:

Finance

Read Full Bio

Christina R. Wing

Senior Lecturer of Business Administration

HBS Unit:

Technology and Operations Management

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 Cochairs

David L. Ager

Senior Fellow, Executive Education

Read Full Bio

Lauren H. Cohen

L.E. Simmons Professor of Business Administration

HBS Units:

Entrepreneurial Management

Finance

Read Full Bio

Faculty

Edward B. Berk

Senior Lecturer of Business Administration

HBS Unit:

Finance

Read Full Bio

Josh Lerner

Jacob H. Schiff Professor of Investment Banking

HBS Units:

Entrepreneurial Management

Finance

Read Full Bio

Nori Gerardo Lietz

Senior Lecturer of Business Administration

HBS Units:

Entrepreneurial Management

Finance

Read Full Bio

André F. Perold

George Gund Professor of Finance and Banking, Emeritus

Read Full Bio

Luis M. Viceira

George E. Bates Professor of Business Administration

HBS Unit:

Finance

Read Full Bio

Christina R. Wing

Senior Lecturer of Business Administration

HBS Unit:

Technology and Operations Management

Read Full Bio

Apply Download Brochure

More Admissions Information

View In-Person Program Offering

Welcoming the Next Generation to a Family Business

Bringing in the next generation requires a plan.

Need Help? Contact Us:

Program Advising team

Email: executive_education@hbs.edu

Welcoming the Next Generation to a Family Business

Bringing in the next generation requires a plan.

Learn More

View In-Person Program Offering

Apply

Download Brochure

Program Finder

Need Help? Contact Us:

Program Advising team

Email: executive_education@hbs.edu

Related Programs

Explore All Programs Download Program Calendar

Explore All Programs Application PDF

Family Office Wealth Management—Virtual

"We want to create a safe learning space where families in similar circumstances can speak openly."

"We want to create a safe learning space where families in similar circumstances can speak openly."

Summary

Summary

DetailsExpand AllCollapse All

Gain insights to build a professional family officeGain insights to build a professional family office Dropdown down

Find solutions to your wealth management challengesFind solutions to your wealth management challenges Dropdown down

Explore the full range of investment opportunitiesExplore the full range of investment opportunities Dropdown down

Analyze philanthropic opportunities and partnershipsAnalyze philanthropic opportunities and partnerships Dropdown down

Expand your personal and professional networkExpand your personal and professional network Dropdown down

Gain insights to build a professional family office

Find solutions to your wealth management challenges

Explore the full range of investment opportunities

Analyze philanthropic opportunities and partnerships

Expand your personal and professional network

Who Should Attend

Leaders in Virtual Learning

Leaders in Virtual Learning

Admissions Criteria and Process

Answering Your Questions

Application Submission

Application Review

Fee, Payment, and Cancellations

Answering Your Questions

Application Submission

Application Review

Fee, Payment, and Cancellations

What You Will Learn

What You Will Learn

Program Format

Program Format

Key TopicsExpand AllCollapse All

Family wealth goals and structureFamily wealth goals and structure Dropdown down

Family office portfolio managementFamily office portfolio management Dropdown down

Family office investment opportunities and strategiesFamily office investment opportunities and strategies Dropdown down

Impact investing and partnershipsImpact investing and partnerships Dropdown down

Family wealth goals and structure

Family office portfolio management

Family office investment opportunities and strategies

Impact investing and partnerships

The HBS Advantage

The HBS Advantage

"We want to create a safe learning space where families in similar circumstances can speak openly."

"We want to create a safe learning space where families in similar circumstances can speak openly."

DetailsExpand All Collapse All

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

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

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

Analyze philanthropic opportunities and partnerships Analyze philanthropic opportunities and partnerships

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

Key TopicsExpand All Collapse All

Family wealth goals and structure Family wealth goals and structure

Family office portfolio management Family office portfolio management

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

Impact investing and partnerships Impact investing and partnerships