Harvard, the University of Pennsylvania and New York University have all added wealth management courses to their curriculum in recent years...

Harvard, the University of Pennsylvania and New York University have all added wealth management courses to their curriculum in recent years, as the demand for knowledge on the sector has increased substantially, say the universities.

There are three main reasons for the proliferation of courses geared to teaching the wealthy how to better handle their money, according a recent article in Worth magazine in the US.

First, there are more rich Americans. "Boston College researchers estimate that $41 trillion will pass between the generations by 2052 - the largest intergenerational transfer of wealth in US history,” according to Worth

Second, is a dissatisfaction with traditional advisers "because of the wealth destruction of the 2001-2002 bear market and the spate of high-profile scandals at some banks and asset management firms."

And third, an effort at market segmentation by the universities, as they target niche markets to excel in.

Most of the courses are being offered through the executive education divisions of the universities' business schools, according to the article.