Certificate in Wealth Management (CWM) Syllabus & Subjects 2023: Semester-wise List, Top Colleges Syllabus PDF
Akansha BishtContent Writer
Large investors and firms pool a lot of money in different financial instruments and appoint a wealth manager to manage their investment portfolio. Due to the rising awareness about investment, finance companies and banks hire wealth managers to help their customers. Therefore, wealth management is a lucrative field in India. To be a wealth manager, the students must complete a certificate programme in wealth management. CWM, i.e. Certificate in Wealth Management, is a popular course pursued by aspiring wealth managers. Also known as Chartered Wealth Manager, this course is offered by AAFM (American Academy of Financial Management) and is popular in over 150 countries. The students can opt for it as a full-time or part-time course at their convenience.
Syllabus - Important Facts for CWM
- Subjects in CWM: CWM includes subjects like Corporate Finance, Financial Accounting, Retirement Planning, Investment Planning, Financial Services Marketing, etc.
- CWM Exam: CWM consists of two exams. The level one exam is the foundation course, covering the fundamental aspects of wealth management. It is a 2-hour exam with 100 marks. It contains 65 objective types of questions. The level two exam is Advanced Wealth Management, as it comprises the advanced concepts of wealth management. It is a 3-hour exam that consists of 85 MCQ questions for 160 marks.
- Course Duration: CMW is to be completed within one year once the students register for it. Most candidates complete it after 5 to 6 months of registering for the programme.
- Eligibility: Anyone who has completed their 10+2 studies can enrol in the CMW course. However, one needs to have a graduate degree to be eligible to obtain the Charter. The graduation can be from any discipline. Though people with relevant work experience enrol in this course, students don't need work experience to apply for it.
- Course Materials: All the course materials required for grasping the contents of the syllabus are provided by AAFM. The students who register for this course get access to an online learning platform that includes study materials, mock tests, videos, PPTs, etc.
- Scope in India: According to Labour Statistics data, jobs related to wealth management will grow from 7% to 14%. The huge demand for professional bankers who offer private banking services has created a huge scope for wealth managers in India.
List of Subjects in CWM
CWM subjects remain the same across institutes. Some of the core subjects included in the CWM syllabus are tabulated below.
Typical CWM Subjects
| Subject Title |
Subject Details |
|---|---|
| Overview of Indian and Global Financial System |
A basic idea of the Indian and Global financial market is provided through this subject. The origin of financial markets in India and the globe is explained in it. |
| Concept of Wealth Management |
An overview of financial statements, client interaction, managing cash flow, wealth management procedures, etc., is provided to the students through this subject. |
| Life Cycle Management |
The students learn to analyse investors' life cycles and how to help them with retirement planning. |
| Measuring Investment Returns in Wealth Management |
It would help the students calculate the investment returns to provide their clients with an accurate picture of different financial instruments. |
| Investment Vehicles of Wealth Management |
The instruments an investor can use to build a solid investment profile are explained in this subject. The students get knowledge to explain the legal, liquidity, income, and other aspects of different instruments to their future clients. |
| Managing Investment Risk in Wealth Management |
The returns post taxation of different instruments are key to deciding whether it is a lucrative investment or not. This subject enables the students to learn how to balance the risks of different investment portfolios. |
| Indian Tax Laws |
It gives exposure to the Indian Tax Laws and their implications for the students. |
| Legalities in Wealth Management |
The legal aspects, including essential rules and statutes that can affect the finances of an investor, are explained in this subject. |
| Role of Wealth Management in Banking |
The working principles of banking and a thorough understanding of the banking sector are provided in this subject. |
| Intergenerational Wealth Transfer and Tax Planning |
The meaning and process of wealth transfer are discussed in this subject. It helps the students guide their future clients in tax planning and make them understand their legal heir after death. |
| Equity Analysis |
The students learn about the equities and the risks and benefits associated with them. |
| Use of Alternative Products in Wealth Management |
The students learn how to invest in alternative instruments to generate sufficient wealth. |
| Use of Behavioural Finance in Wealth Management |
The psychological and behavioural aspects that can affect the decision-making ability of an investor are discussed here. |
| Real Estate Valuation and Analysis |
The students learn about the various aspects of real estate and how it can help clients diversify their investment profiles. |
| Loan and Debt Management |
The students will get an overview of debt instruments and loans and how to apply for them in India. This subject also provides a detailed understanding of managing loans and debts. |
| Portfolio Management Strategies |
Accessing the risks and managing them to provide maximum benefits to future clients is the sole purpose of this subject. |
| Relationship Management by Wealth Manager |
It talks about how wealth managers can find new clients and retain them by maintaining a steady professional relationship. |
| International Taxation and Trust Planning |
The tax structures of popular investment zones are discussed in this subject. Tax planning via Trust is also covered in it. |
| Wealth Management Planning |
An overview of the wealth management business is provided in this subject, along with key aspects like the organisation and distribution of business. |
| Advanced Wealth Management |
The applications of all the above-mentioned units are given through this subject via a 6-step investment strategy. |
CWM Syllabus: In Detail
The syllabus for CWM is explained in the below table. It gives a brief overview of the subjects and their objectives.
| Level |
Level Name |
Subject Title |
Subject Details |
|---|---|---|---|
| Level 1 |
Foundation |
Overview of Indian and Global Financial System |
The basic features of financial markets that operate worldwide are covered in it. The students learn about International Financial Institutions, Monetary Systems, the Economy, etc., through this subject. |
| Level 1 |
Foundation |
Concept of Wealth Management |
The wealth management process, how to interact with clients, and other aspects of the wealth management industry are discussed in it. |
| Level 1 |
Foundation |
Life Cycle Management |
The students learn how to manage the life cycle of individuals to provide maximum financial security at retirement via this subject. |
| Level 1 |
Foundation |
Measuring Investment Returns in Wealth Management |
Calculation of returns through various digital tools, investment returns post taxation, and other aspects associated with the monetary gains of investments are covered in it. |
| Level 1 |
Foundation |
Investment Vehicles of Wealth Management |
The different investment plans and ideas that can help investors to attain their investment objectives are discussed in it. |
| Level 1 |
Foundation |
Managing Investment Risk in Wealth Management |
How to manage and mitigate risks to minimise chances of wealth deterioration and maximise the gains are explained in it. |
| Level 1 |
Foundation |
Indian Tax Laws |
The taxation rules in India for individuals and businesses are discussed in this subject. |
| Level 1 |
Foundation |
Legalities in Wealth Management |
The legal aspects of managing wealth and business in India and across the prominent investment zones across the world are explained. |
| Level 1 |
Foundation |
Role of Wealth Management in Banking |
How banking processes are operated is explained in it. |
| Level 1 |
Foundation |
Intergenerational Wealth Transfer and Tax Planning |
The transfer of wealth and tax planning are essential aspects for any investor. The students learn everything related to these aspects through this subject. |
| Level 2 |
Advanced |
Equity Analysis |
How equities can provide quick capital appreciation and how to use them for wealth generation are the fundamental objectives of this subject. |
| Level 2 |
Advanced |
Use of Alternative Products in Wealth Management |
The students learn how to manage and use alternative financial instruments to generate enough wealth for their clients. |
| Level 2 |
Advanced |
Use of Behavioural Finance in Wealth Management |
Analysing the behavioural aspects and psychological factors that can influence the decisions of an investor is the key objective of this subject. |
| Level 2 |
Advanced |
Real Estate Valuation and Analysis |
How real estate is a powerful wealth generation asset. |
| Level 2 |
Advanced |
Loan and Debt Management |
How to manage loans and procure debts are covered in it. |
| Level 2 |
Advanced |
Portfolio Management Strategies |
Different plans adopted by wealth managers to help their clients reach their investment goals in a particular period are explained in it. |
| Level 2 |
Advanced |
Relationship Management by Wealth Manager |
How to procure new clients and maintain relationships with existing ones are the key aspects of this subject. |
| Level 2 |
Advanced |
International Taxation and Trust Planning |
How the tax policies vary for different regions and how to use Trust Planning to manage tax planning are the fundamental objectives. |
| Level 2 |
Advanced |
Wealth Management Planning |
How to create a comprehensive investment plan to create enough wealth in a given period is discussed in it. |
| Level 2 |
Advanced |
Advanced Wealth Management |
The advanced concepts related to wealth management and applications of fundamental theories and investment principles are covered in it. |
Recommended Books for CWM Syllabus
Although AAWM provides all the study materials required to complete the CWM Certification, the students can refer to these reference books to expand their knowledge about wealth management.
| Subject |
Book Title |
Author |
Description |
|---|---|---|---|
| Portfolio Management Strategies |
Capital Without Borders |
Brooke Harrington |
Tactics used by wealth managers to help elite investors grow and safeguard their wealth are discussed in this book. |
| Concept of Wealth Management |
Richest Man in Babylon |
George C Clason |
Basic ideas of wealth management and management of finances can be learnt from this book. |
| Wealth Management Planning |
The Millionaire Next Door: The Surprising Secrets of America’s Wealthy |
Stanley Thomas |
How to create wealth and the dark secrets of the wealthy people in America are included in it. |
| Portfolio Management Strategies |
The New Wealth Management |
Harold Evensky |
Contemporary wealth management strategies are discussed in this book. |
| Concept of Wealth Management |
A Wealth of Common Sense |
Ben Carlson |
How simple investment strategies can prove to be instrumental in creating wealth is explained in it. |
| Managing Investment Risk in Wealth Management |
Private Wealth Management |
Jerry Rosenbloom and G. Victor Hallman |
How a wealth manager can diversify an investment portfolio by developing a strong understanding of financial planning is explained in it. |
| Use of Alternative Products in Wealth Management |
Wealth Without Stocks or Mutual Funds |
John Jamieson, Randy Glasbergen |
Wealth creation through non-conventional methods is the key takeaway from this book. |
| Relationship Management by Wealth Manager |
Wealth Management Unwrapped |
Charlotte B. Beyer |
It talks about how to find a wealth manager. |
| Portfolio Management Strategies |
The Total Money Makeover |
Dave Ramsey |
Money management, contingency fund management, and related concepts are discussed here. |
| Advanced Wealth Management |
Wealth Management in the New Economy |
Sarah E. Sleight and Norbert M. Mindel |
An overview of wealth management methods and strategies is provided in it. |
Entrance Exams for CWM
There are no entrance exams for CWM. However, the students who sign up for the Corporate Membership with AAFM India are eligible to apply for this course and get 3 years to complete the CWM certification.
The other pathways are Compulsory Pathways and Experience Pathways. Both these pathways are for the students who have experience in working in the field of financial services. The students who have less than 3-year experience need to give both level 1 and level 2 exams. However, the students who have a relevant experience of more than 3 years need to undertake only the level 2 exam.
Syllabus for Distance Programme in CWM
AAFM India allows the students to enrol in the distance programme if they do not want to undertake the classroom training. The students can apply for the distance programme online and pay the registration fee of INR 25,000+GST online. The fees and syllabus for the regular course and distance programme are the same. Once registered with AAFM, the students must complete the course within one year. Upon failing to do so, the students need to renew their registration by paying INR 7080+GST. The syllabus for the CWM distance programme contains these subjects:
- Wealth Management Basics
- Life Cycle Management
- Investment Vehicles of Wealth Management
- Role of Wealth Management in Banking
- Real Estate Valuation and Analysis
- Wealth Management Planning
- Portfolio Management Strategies
- Advanced Wealth Management
Top Institutes Offering CWM Course
These are the top institutes for CWM in India. These are the authorised partners of AAFM India and have been selected based on their teaching facility and recruitment programmes.
| College/Institute/University |
Syllabus PDFs |
|---|---|
| AAFM India - Direct |
To be uploaded soon |
| Professional Training Academy |
To be uploaded soon |
| CPC Educare Private Limited |
To be uploaded soon |
| CISI |
To be uploaded soon |
| FPA India Edu Pro Private Limited |
To be uploaded soon |
| Hedge School of Applied Economics |
To be uploaded soon |
| IIRWM |
To be uploaded soon |
| Next Level Education Private Limited |
To be uploaded soon |
| OMLET |
To be uploaded soon |
| Hi-Educare |
To be uploaded soon |
CWM Syllabus FAQs
Q: What does the CWM syllabus aim for?
Q: What are the learning outcomes of CWM?
- Learning the best international methods to grow wealth management skills
- Learning how to evaluate, diagnose, and plan wealth management requirements of super-rich clients
- Understanding the behaviour of clients and retaining them for decades
- Learning how to apply wealth transfer, wealth protection, and wealth enhancement techniques
Q: Which are the key subjects taught at the CWM Foundation level?
- Introduction to Wealth Management
- Investment Management and Planning
- Products in Wealth Management
- Laws in Wealth Management
- Applied Wealth Management
Q: Which are the key subjects taught at CWM Advanced level?
- Asset Classes in Wealth Management
- Managing Relationships in Wealth Management
- Tools in Wealth Management
- Wealth Management Practise
- Advanced Applications and Techniques in Wealth management
Q: Which are the study and learning resources provided by AAWM India?
- Access to Online Content
- Webinars (both recorded and live)
- Question Bank
- Mock tests
- Sample question papers
- Study reports that can be utilised to evaluate the performance of the students in the exam
Q: What does the CWM Curriculum include?
Q: What does the Concept of Wealth Management include?
Q: What does the subject Managing Investment Risk in Wealth Management cover?
Q: What are the Legalities in Wealth Management?
Q: Which course is better, MBA in Financial Marketing or CWM?
Q: What do Portfolio Management Strategies mean?
Q: What is Advanced Wealth Management?
Q: What do the students learn through the CWM syllabus:
Q: Are there entrance exams for the CWM course?
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