23.11.2019

High Impact Wealth Aggregation - ein Online Seminar mit Prof. Dr. Kostin

Am 23. und 24. November wird Prof. Dr. Kostin ein Seminar zum Thema "High Impact Wealth Aggregation" halten. Termine: Samstag 09:00 bis 18:00 Uhr, Sonntag 09:00 bis13:00 Uhr. Das Seminar wird für immatrikulierte Master-Studierende erstmalig auch online übertragen werden.

High Impact Wealth Management


Dozent: Dr. Konstantin B. Kostin, PhD., Full Professor, Saint-Petersburg State University of Economics
Hochschule: Fulbright Faculty Development Program Alumnus, University of North Florida
 

Termine: 23.11.19 , 09:00 - 18:00 Uhr | 24.11.19, 09:00 - 13:00 Uhr

Die Anmeldung erfolgt über tabea_susanne.rohm@nordakademie.de .

Sie erhalten im Anschluss die Zugangsdaten zur Online-Übertragung zusammen mit dem Link zu AdobeConnect.

 

High Impact Wealth Aggregation: contents


Qualification objectives

After successful completion of this course, students will be able to

 

  • distinguish the difference between an asset and a liability with focus on bettering savings, and ensuring that more money is not going out than coming in;
  • understand the difference between how rich people and average people choose to get paid;
  • distinguish private wealth management from other fields of asset management;
  • discuss how source of wealth, measure of wealth, and stage of life affect an individual investors’ risk tolerance;
  • understand the theory of life-cycle saving and investing;
  • explain the influence of investor psychology on risk tolerance and investment choices;
  • explain potential benefits, for both clients and investment advisers, of having a formal investment policy statement;
  • explain the process involved in creating an investment policy statement;
  • distinguish between required return and desired return and explain how these affect the individual investor’s investment policy;
  • explain how to set risk and return objectives for individual investor portfolios and discuss the impact that ability and willingness to take risk have on risk tolerance;
  • discuss the major constraint categories included in an individual investor’s investment policy statement;
  • determine the strategic asset allocation that is most appropriate for an individual investor’s specific investment objectives and constraints;
  • discuss current developments in financial markets and their impact on individual investor portfolios;
  • apply gained knowledge in practical investment decision settings;
  • apply different options available in different financial markets in terms of investment products, with a particular focus on mutual funds, stocks, and bonds.

Learning outcomes

 

  • Acquiring knowledge on the «4 whales of sucess»
  • Acquiring knowledge about the factors influencing the needs and goals of individual investors and their assessment
  • Acquiring knowledge about the different investment alternatives available for individual investors
  • Understanding the importance of different legal frameworks, taxation and pension systems for individual investor decision-making
  • Acquiring knowledge on investment products’ pros and cons determination strategies with a focus on the fees associated with each option and the impact the fees have on the investor outcome
  • To assess, as a secondary consideration, the taxes associated with each investment choice
  • Change of awareness
  • Understanding of different challenges in financial markets under consideration before the background of the markets history and external and internal factors
  • Ability to map opportunities for short-term, mid-term and long-term financial gains in each market
  • Personal competence
  • Improvement of presentation and self-reflection abilities via discussions, case studies, group work and presentation
  • Learning to find innovative creative solutions to money problems
  • Approaching whatever happens with financial intelligence and turning it into a gain even if it looks otherwise at first sight


Contents

The goal of the course is to teach the students how to master the money, build personal and corporate wealth, capitalize on opportunities in order to be successful and ultimately retire comfortably.

Block 1
Introduction to high impact wealth management & investor characteristics. Introducing the concept of financial intelligence: learning the difference between an asset and a liability with focus on bettering your savings, and ensuring that more money is not going out than coming in. The session gives the insights on how to manage money using financial intelligence.

Block 2
Investment Policy Statement. Learning the difference between how rich people and average people choose to get paid. Understanding the choice and the outcome between average people and the rich: choosing to get paid based on time — on a steady salary or hourly rate (average people) or working on commissions, choosing stock options, profit sharing over higher salaries and building and owning businesses (rich). Calculating risk and determining the level of comfort under uncertainty conditions. Learning how to have money work for you – by being your own boss, starting a company and investing.

Block 3. Changing the mindset: introducing the «4 whales of success».
1. Accounting: building up financial literacy or the ability to read and interpret numbers;
2. Investments: how money creates money;
3. Understanding the markets: understanding supply and demand;
4. Legal framework: how to build wealth respecting the rules.

Block 4
Value investing. Value investment strategies. Example of Warren Buffet and Berkshire Hathaway success. Principles of Warren Buffet. Analytical layers of a value investing approach. Value investing in different asset classes.

Block 5
International differences in individual investor asset management – Examples of Germany & Russia. Applying financial intelligence in developing markets & capitalizing on opportunities.
Understanding cultural differences and business communications in Germany & Russia. Locating and capitalizing on business opportunities in Russia. Mapping consumer profiles and successful marketing strategies. Applying industrial marketing in order to understand what local companies are looking for.

Block 6
Learning to find innovative creative solutions to money problems. Approaching whatever happens with financial intelligence and turning it into a gain even if it looks otherwise at first sight. Finding solutions to questions like: «If an opportunity lands in your lap and you have no money and the bank won't talk to you, what else can you do to get the opportunity to work in your favor?». Learning how to see more opportunities than everybody else. «The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth».

Block 7
Behavioral aspects in modern investments and investment decision making. Traditional vs behavioral approaches to finance. Daniel Kahneman, Paul Krugman and Richard Thaler findings and their applications to high impact wealth management.

Lecturer

Dr. Konstantin B. Kostin currently holds the full professorship at the Saint-Petersburg State University of Economics. He holds a Bachelor of Science in Business Administration Degree from the University of Alabama in Huntsville (USA), a Master’s degree from Baltic State University (St. Petersburg, Russia) and a Master’s degree from Christian Albrechts University of Kiel (Germany). He received his PhD from the Saint- Petersburg State University of Telecommunications and his Habilitation from the Saint-Petersburg State University of Economics.

Dr. Kostin has extensive working experience in the financial and business sectors, including managing large-scale investment projects at the investment fund “Renord”, working as CitiGold Exective with Citibank as well as being the Director of Investments Division for the North-West region of Russia for the Financial Corporation “Uralsib” for a number of years.

In 2013-2014 as a winner of the Fulbright contest Prof. Kostin served as a Fulbright Scholar at the University of North Florida, USA, where he taught several Bachelor and Master level courses and performed academic research.

Dr. Kostin currently serves as a visiting professor at several Universities in the US, Germany and Finland. He has been teaching the “Corporate Financial Management” course for the NORDAKADEMIE Graduate MBA Program for the past two years as an invited professor. Dr. Kostin mostly is involved in teaching, academic research and consulting services. He served as the expert at the Saint-Petersburg International Economic Forum (SPIEF) and was commissioned to prepare the executive summary after the SPIEF in 2016-2019. Prof. Kostin is a member of the Editorial Board of the AIMS International Journal of Management and the Journal of Strategic Management. He is also a member of the AIMS Association. He is the author of 142 academic publications, which include 6 text books and 14 monographs.

 

Self Study Requirements

  • Vorbereitung / Advance Preparation
  • No advance preparation required. The relevant material for post-lecture study work will be addressed and distributed during the sessions.
  • Nachbereitung und Prüfungvorbereitung / Post Lecture Study Work and Exam Preparation
  • Guidance and relevant material will be provided in class. The course exam will consist of qualitative questions AND a quantitative problem.

Teaching Methods

Instructor led discussion and lecture, class discussion, case presentation, group work.

 

Termine: 23.11.19 , 09:00 - 18:00 Uhr | 24.11.19, 09:00 - 13:00 Uhr

Die Anmeldung erfolgt über tabea_susanne.rohm@nordakademie.de .

Sie erhalten im Anschluss die Zugangsdaten zur Online-Übertragung zusammen mit dem Link zu AdobeConnect.

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