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This 8-hour course aims to equip private bankers with the knowledge to identify appropriate wealth management investment products and design suitable complex customised financial solutions in accordance with client’s stated investment policy. It will also allow you to present and obtain agreement from HNW clients for the recommended investment solution and review client accounts periodically to ensure clients’ needs and objectives are met.

Target Audience

  • Relationship managers and senior relationship managers in private banks
  • Covered persons under Private Banking Code of Conduct

Course Objectives

  • Know your client and establish Investment Policy Statement
  • Coordinate and collaborate with investment specialists to develop and customise suitable complex investment solutions with client’s stated investment objectives and risk appetite
  • Develop an advanced level of understanding in the design of wealth management product features, terms and conditions, including the risk-reward characteristics and how they affect client’s suitability
  • Communicate and explain the key benefits of recommended investments and related risks effectively
  • Gather relevant, sufficient and appropriate documentation for client’s acceptance of proposed recommendation, terms and conditions, and fees related to the recommendation
  • Monitor and evaluate performance of investment portfolio and conduct periodic portfolio review with client, and also review client’s profile and investment needs
  • Discuss the key considerations of rebalancing decision, and analyse any potential areas for improvement

Course Outline

Client’s Investment Policy Statement (IPS)

  • Investment objectives
  • Return objectives
  • Risk tolerance and risk appetite
  • Product sophistication and knowledge
  • Investment preference
  • Asset allocation and performance benchmark
  • Frequency of portfolio review

Portfolio Management Process

  • Planning
  • Execution
  • Monitoring


  • Recommend investment solution for the client
  • Coordinating with the relevant specialists
  • Presenting the key features of the investment solution
  • Communicating the associated risks on the recommendation
  • Documentations of proposed recommendations
  • Client’s acceptance Terms and conditions
  • Fees
  • Implementation responsibilities
  • Frequency and means of communication for portfolio review

Advanced Understanding in the Design of Wealth Management Products

  • Product features
  • Product terms and conditions
  • How the design of the products affects client suitability
  • Explaining key benefits/related risks of the recommended investments
  • Types of fixed income
  • Understanding options
  • Structured products
  • Dual currency investments
  • Accumulator/decumulator
  • Target accrual redemption forward (TARF)
  • Pivot target redemption
  • Credit-linked notes
  • Equity-linked noted
  • Fixed coupon notes
  • Bonus enhanced notes
  • Shark-fin notes
  • Twin win notes
  • Principal protected notes

Advanced Investment Concepts

  • Advanced portfolio concepts and strategies
    • Factor investing
    • Smart betas
    • Exchange traded funds (ETFs)
    • Robo-advisory
    • Algorithmic trading


  • Establish strategic asset allocation framework with client based on his/her risk profile and returns objective
  • Thresholds for rebalancing and tactical adjustments
  • Key considerations for rebalancing decision
    • Concentration risks vs diversification
    • Trading costs
    • Tax consideration
    • Asset allocation decision: active/passive and strategic/tactical


  • Portfolio risk management
    • Systematic and unsystematic risks
    • Effects of correlations between securities on the portfolio
    • Performance measurement --- Sharpe ratio, Treynor ratio, drawdown, value-at risk (VaR)
    • Performance attribution
    • Identify areas for improvement
    • What to do when investments went wrong
  • Update client’s needs, investment profile and objectives

Market Conditions and Portfolio Performance

  • How market conditions may affect portfolio performance
    • Economic crisis
    • Political crisis
    • Financial crisis

Credit Facilities and Leverage

  • Use of credit in client’s portfolio construction
    • Margin financing for securities
    • Margin financing for forex
    • Universal life insurance financing
    • Other areas - single stock, standby letter of credit, property

Assessment - Team Presentation and MCQ

(Please prepare a calculator for your assessment)

About IBF Certification

This course addresses the following Technical Skills and Competencies (TSCs) and Proficiency Level (PL):

  • Wealth Planning Administration (Level 3)
  • Personal Finance Advisory (Level 4)
  • Portfolio and Investment Risk Management (Level 4)

Participants are encouraged to access the IBF MySkills Portfolio to track their training progress and skills acquisition against the Skills Framework for Financial Services. You can apply for IBF Certification after fulfilling the required number of Technical Skills and Competencies (TSCs) for the selected job role.

Find out more about IBF certification and the application process on