Wealth Management Theory & Practice

This program was developed for wealth management and financial professionals working with high-net-worth clientele who are pursuing the CPWA certification. Wealth Management Theory & Practice is an online course for those who value the high caliber education of Yale and the convenience of digital learning.

The comprehensive Yale CPWA online program includes: study materials to help candidates prepare for and pass the CPWA registered education course and CPWA certification exam.

Built around the Certified Private Wealth Advisor® (CPWA) certification curriculum and approved by the Investments & Wealth Institute® as a registered education program, this course fulfills the registered education requirement for CPWA certification. This course includes comprehensive coverage of the topics and learning objectives found in the CPWA Core Body of Knowledge (core topics list).

• Participants gain a better understanding of the CPWA curriculum core topics and learning objectives by mastering concepts and applications specific to serving high-net-worth clients.
• Participants develop tools and resources to help them improve their businesses by immediately applying new strategies and solutions in practice.
• Participants prepare for the Yale SOM course tests and the CPWA certification exam by learning from multiple resources, including videos, exercises, and practice questions.

Not only will the Yale CPWA program help you gain your certification, it will help drive your business and build your career.

• Perform client discovery more efficiently
• Better understand the changing regulatory environment
• Use behavioral finance applications to better manage client expectations, decisions, and relationships
• Learn to work with and serve the family client including the next generation
• Analyze and recommend tax planning solutions
• Build and manage more effective investment portfolios
• Assess client risks and propose appropriate insurance solutions and asset-protection strategies
• Identify challenges that are unique to executives and closely held business owners and recommend strategies and solutions that meet specific client goals and objectives
• Master the complexities of qualified and non-qualified retirement plans and help affluent clients in the distribution phase of retirement
• Develop charitable and estate planning solutions to help clients transfer wealth

Wealth Management Theory & Practice walks you through the CPWA curriculum core topics and learning objectives line-by-line. Faculty and practitioners help students better understand the unique challenges facing today’s high-net-worth client, learn how to analyze specific situations, and present appropriate, holistic solutions.

Program participants will consider financial and non-financial applications and strategies while helping HNW clients build, protect, and distribute their wealth. This includes a focus on financial, intellectual, social and human capital.

Curriculum

(Source: CPWA Certification Body of Knowledge)

Topic coverage includes

• Part I: Human Dynamics
• Part II: Wealth Management – Technical Design
• Part III: Legacy Issues
• Part IV: Specialty Client Services

Wealth Management Theory & Practice is an online course for wealth management professionals pursuing the prestigious CPWA certification.

This program, led by Yale Professor Tobias J. Moskowitz and financial certification specialist and Program Director Jim Dobbs, includes comprehensive coverage of the topics and learning objectives found in the CPWA Core Candidate Body of Knowledge.

This program has been developed to help you better understand the concepts and applications found in the CPWA curriculum; help you better serve high-net-worth clients given the unique challenges they face; and help you prepare for and pass the Yale School of Management course exam and CPWA certification exam. 

Topic coverage includes:

Part I: Human Dynamics

• A: Ethics
• B: Behavioral Finance
• C: Family Dynamics

Part II: Wealth Management – Technical Design

• A: Tax Planning
• B: Portfolio Management
• C: Risk Management and Asset Protection

Part III: Legacy Issues

• A: Charitable Giving and Endowments
• B: Estate Issues and Wealth Transfer

Part IV: Specialty Client Services

• A: Planning for Executives
• B: Planning for Closely Held Business Owners
• C: Retirement Management

In addition to guidance provided by faculty, the Yale CPWA online program includes materials specifically designed to help candidates prepare for and pass the CPWA certification exam.  Candidates learn by leveraging proprietary tools and resources that fit their own, unique learning styles and preferences, including:

• Orientation videos and notes
• Lecture videos
• Yale CPWA program readings library
• Test-prep overview videos and study recommendations
• Test-prep summary slides
• Hundreds of practice questions
• Discussion board

Participants are encouraged to study 10-20 hours a week. Most candidates should be able to complete the program and certification requirements within approximately 6 months. The difference in study-time needed between candidates depends on several variables including: existing knowledge of the curriculum, study habits, learnings styles and preferences, test-taking ability, etc.

• Program enrollment is offered on an ongoing basis. Once approved for candidacy by Investments & Wealth Institute you may enroll whenever you choose.
• All program content is available on demand. Participants can download, copy, save and print whatever they choose. Participants are not allowed to share program materials with anyone.
• This program is not offered for academic credit and should be considered a "self-study" course.
• Participants have access to Yale and Dobbs Education staff during traditional office hours (8 a.m. - 5 p.m. Monday through Friday) for administrative and technology questions.
• This program is designed to be self-guided, but we know that sometimes a little help is needed. Participants use the discussion board to discuss topics and questions among themselves, and participants can reach out directly for help with a handful of content-related questions as they move through the program. If however, one believes he or she will need help akin to that received in an in-person program, like daily or weekly interaction with faculty and teaching assistants, then this program would not be a good fit.
• Program fees are due in full upon enrollment. No cancellations or refunds are permitted once you have enrolled, therefore you want to be 100% committed prior to enrolling.

• Program fee: $7,295 – Includes institute application and testing fees.
• Location: Online program
• Format: Video lectures supplemented by proprietary study materials to enrich learning. Participants are given access for 365 days or whenever they complete the certification process (whichever comes first), but most should complete the entire process within 6 months.

Most Yale program participants report spending 150-200 hours of total study time to complete the Yale course and prepare adequately for the certification exam. Study time depends on many factors including industry experience, current knowledge of the topics, study habits, test-taking skills, etc. This program is not offered for academic credit hours and is not built or priced to offer the same level of interaction with faculty as courses that are offered for academic credit. While this program should be considered “self-study,” participants are able to reach out for content-related help a few times when needed. If one believes he or she will need more help than that, then this program would not be a good fit. Yale has a strict no-refunds policy for this program, so you’ll want to be 100% committed before enrolling.

"I would estimate that the course requirements took me 30 hours.  I would estimate that I spent 80-100 hours (over 32 days) on test prep, including the test prep videos, test prep slides, practice problems, readings, practice exam, etc. You guys are fantastic, and I would highly recommend your program to anyone." - Jay B.

“Thank you! I will say it was one of the most challenging exams I have taken professionally. The Yale course materials and videos, content, structure, and guidance were on point. I am glad you emphasized multiple times in your videos that “application” of the material is key. Also, your weekly notifications and candor in your test-prep videos really helped me refocus when needed. I thought my experience would get me through most of it, but I was wrong.  The content of this course is not something I have used on a day-to-day basis, nor many of the strategies i.e. trusts, executive options, etc. I was familiar with most, but never had to do a deep dive in those areas. So, the instructions on how to study and what you will need to know were very helpful. Most of all, I learned a lot and have begun to discuss strategies we reviewed in the program with clients that could benefit – that is exciting and very useful to our practice as we begin to work with ultra-high net worth clients. Thanks again and cheers.” – Sherry H. 

“Thank you! I very much appreciate the coursework and prep material, and closely followed the recommendations that were outlined in the material about how to approach the course – and the exam prep in particular. I was obviously very pleased with the result! Above all, I can say with certainty that going through this course armed me with knowledge and confidence about the complex topics that are very relevant to help our team better serve our clients. I’m most thankful for that. Thank you again for your note, and for the outstanding course and exam preparation. I’m very appreciative!” – Alyce Z.

“Thanks again for a great program. I really appreciated being able to do it at my own pace – watching the lectures at my leisure and re-listening on my phone while on walks or during the commute. The Yale practice test and final exam were hard which gave me the right amount of fear to push harder. For sure it has already made me a better advisor.” – Ben J.

“I felt well prepared when I took the CPWA certification exam. I don’t really see how anyone could pass the Yale course and then not pass the certification exam.” – Clinton G.