Eliane Chavagnon
Reporter
2 August 2012
Daily News Analysis
The Wharton School of the University of Pennsylvania and the Institute for Private Investors are to formally launch The Wharton IPI Private Wealth Network - a new resource for investors which formalizes the network built over the past 13 years via the IPI Private Wealth Management program, the organizations said.
The IPI Private Wealth Management program is a five-day residential program which since 1999 has been joined by 652 investors from 36 countries.
“The professors and I noticed a very natural connection and common interests among the hundreds of investors who’ve attended the program and we felt ready to launch a formal network,” said IPI founder and chief executive Charlotte Beyer.
“Investors now have a chance to tap into this newly-created network comprised of the professors from their class – whether they attended the class in 2001 – or 2012,” added Professor Richard Marston, PWM academic director.
According to Professor Marston, after investors complete the program, they often find that they have “even more questions that need objective answers.” For example, following a conversation with their advisor about a particular issue, investors can refer back to professors for their views.
This taps into a trend of peer networks created to allow wealthy investors to discuss common worries and strategies. For example, Money K, head of the next generation at Citi Private Bank, recently told this publication how in some ways the most successful aspect of the program had been the network it created after the event itself (view here).
In the IPI Private Wealth Management program, topics such as the theory behind asset allocation, family dynamics and how investors' personalities can impact wealth management are discussed, as well as global economic trends.
In order to launch the network officially, there will be a series of dinner meetings. The first is scheduled for October 4 at the Penn Club in New York City, where Professor Marston will address the investors in attendance. Thereafter, the meetings will be held three times a year. The second gathering is due to take place in March 2013 at Wharton, San Francisco.
