Courses teaching wealth management to rich students are not yet available in UK universities, but could this be about to change? Three American universities, Harvard, New York University and the University of Pennsylvania now offer wealth management programmes for students who either have or who will inherit significant financial assets.
Traditionally this type of professional advice was the exclusive domain of private bankers, lawyers, and investment advisors; so why are institutions offering these courses? Are they meeting a real need or simply using these courses as a way of attracting potentially wealthy alumni? The answer is probably both. In the UK, while the market would be much smaller, it is doubtless something universities like Oxford, Cambridge and Durham should be considering, given their increasing reliance on fundraising and philanthropy.
