If a family has wealth to invest, how do they decide where it should go? How do they balance the promise of higher returns with the risk of losing money? And who helps them make sense of it all?
These were some of the questions explored during a guest session with Riddhiman Jain and Devika Khemani from Waterfield Advisors, who spoke to students of the Master of Applied Finance and Wealth Management (MFWM) program about wealth management and the role of a family office.
The speakers explained why managing wealth involves much more than picking investments. It starts with understanding a client’s goals, priorities and expectations. They also emphasised that honesty and transparency are essential to building lasting relationships, with realistic advice taking precedence over promises of high returns.
What happens when a family needs more than investment advice? The speakers introduced students to the role of a family office, which brings together different aspects of a family’s finances and helps keep decisions aligned with its long-term goals. The discussion then turned to how investment choices are made, from spreading money across different types of investments to selecting suitable options and managing losses.
The session offered students a closer look at the judgement that goes into managing wealth. It highlighted how financial knowledge must go hand in hand with understanding people, weighing different options and making decisions in their best interests. After all, a sound investment decision is not just about potential returns; it is about whether the decision makes sense for the person behind the money.
Sessions like these give MFWM students the opportunity to learn directly from industry professionals and connect concepts discussed in the classroom with the decisions wealth managers make in practice.