AAFM/RSOF Designations and Executive Education
Build the specific knowledge and competencies your organization needs to tackle its
immediate and longer-term challenges, building new business or profiting in competitive
markets.
Through class lectures and interactive casework, participants will increase their depth of
knowledge in key areas of wealth and financial management and earn a designation
recognized worldwide.
The use of case study compels student to come to terms with a wide range of issues that
directly impact all client's having significant wealth. Participants will call upon both their
own experiences, as well as knowledge gained during the week, to solve the problems
presented. Learning is enhanced by the continual exchange between students and
instructors.
The Royal Society of Fellows and The American Academy of Financial Management are
leading providers of professional qualifications and certification in international tax,
business, finance, and investments. BSII delivers AAFM / RSOF strategic learning
solutions to financial organizations and professionals. We offer an array of product
knowledge and consultative selling courses that equip financial service professionals with
the knowledge and skills to differentiate themselves in today’s highly competitive
marketplace and deliver results.
Business Services International, Inc. (BSII) provides certification training for Wealth
Managers and Investment Professionals who wish to obtain one of the AAFM / RSOF
designations. BSII delivers AAFM / RSOF strategic learning solutions to financial
organizations and professionals. We offer an array of product knowledge and consultative
selling courses that equip financial service professionals with the knowledge and skills
necessary to differentiate themselves in today’s highly competitive marketplace and
deliver results.
Each program provides a rigorous, comprehensive learning experience for financial
advisors and investment professionals. Our courses provide the student with the tools and
techniques they need to understand and manage client needs.
The Royal Society of Fellows is the premier professional cross-disciplinary society that
educates, trains and certifies professionals in international tax, compliance, anti-money
laundering and corporate and computer security. The leadership of the RSOF consists of
a distinguished specialist faculty, structured as a global think-tank, that provides its
membership practical instruction, education; training and intelligence on cross-border
planning and compliance using advanced compliant platforms. The RSOF's goal is the
pursuit of excellence in academic and business practice through creating standards and
setting benchmarks that our industry, professions and practitioners should always strive
to achieve.
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In 2004, the Royal Society of Fellows entered into a strategic alliance with the American
Academy of Financial Management to provide a joint AAFM / RSOF alliance certificate.
The RSOF is a Provider of AAFM certification of which AAFM grants certificates to all
successful graduates of RSOF training and accredits the RSOF designation.
The American Academy of Financial Management ™ is a worldwide financial
professional organization with members in 100+ countries hosting and organizing
conferences worldwide. AAFM is in alliance with the top 560 business schools in the
world.
Portfolio evaluation:
RSOF Member in Good Standing – All applicants must be a member of the Royal
Society of Fellows. In most instances, the first year dues payment is included in your
tuition.
AAFM Certification and Diploma Fee – A $300 certification fee is required by AAFM
to process your certification. In most instances, the fee is included in your tuition.
In-house Executive Education Class Size – The minimum class size to hold a
certification class at your organization is 10 students.
RSOF Forum – Classes may be given at the end of RSOF conferences if there is enough
interest. Conferences are usually held twice a year in different jurisdictions around the
world.
The Need - Build the specific knowledge and competencies your organization needs to
tackle its immediate and longer-term challenges, building new business or profiting in
competitive markets.
Course Descriptions
Designation: Chartered Wealth Manager – International Tax (CWM).
Requirements: For those who desire a designation in International Wealth
Management.
Portfolio Management, Financial Markets and Risk Management
Building on classical concepts in portfolio theory, the candidate will learn more advanced
applications as they apply to equities, bonds, or hedge fund strategies. The course will
also teach you to question and assess asset managers. Furthermore, you will practice how
to break down and evaluate various structured products in order to give clients the best
advice. And finally, you will gain insights into modern concepts of risk management.
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Portfolio management
Investment policy and agreements
Efficient-market theories
Performance measurement
Investment styles
Fixed-income management
Structured products risk management and operational risk
Hedge funds tax and insurance aspects
Practical diversification possibilities
Wealth Management And Planning
The topic covers the special aspects of wealth management for high net-worth individuals
and the comprehension of the major concepts underlying global laws and regulations
related to wealth planning. The course also covers major principles in domestic and
international tax and planning and how to recognize opportunities for clients. The module
also entails the discussion of suitable asset allocation techniques from an integrated
perspective, finance, financial planning aspects, risk tolerance; lifestyle, life cycle, and
estate planning. The overall goal of this module is to enable the advisor to encounter a
complex wealth management engagement and able to integrate the advice given by
various counselors to help facilitate the optimal solution and enable the client to make
appropriate decisions.
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Financial planning and life cycle models for high net-worth individuals
Asset allocation, client objectives and suitable financial decisions
Integrated financial planning for entrepreneurs (including laws and taxes
governing IPO's. divestitures and succession planning)
International wealth planning for high-net-worth individuals (including trusts,
foundations, estate planning, comparative tax laws, mobility and residence)
Objectives and strategies of a family office
International Anti-Avoidance
The objective of this module is to give the student an understanding of the fundamental
principles that underlie anti avoidance provisions and to acquaint you with the current of
state of the law in selected countries.
Tax avoidance is difficult to define. Additionally, interpretation from one tax jurisdiction
to another varies and legislation changes from time to time reflecting changes in judicial
tolerance. Advisors need to be aware of the current state of the law in the country of
residence of the taxpayer and also in the countries that they are using to implement their
client’s tax plans.
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Tax Avoidance And Tax Evasion
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Tax Planning
Shams
Concepts Of Residence And Source
General Anti Avoidance Regime
Concepts Of Substance And Form And Abuse Of Law
Specific Anti Avoidance Rules
Controlled Foreign Corporations
Controlled Foreign Companies Regime
Transfer Pricing
Thin Capitalization
Advance Pricing Agreements
The Use Of Double Tax Agreements For Avoidance
Review Of Important Tax Cases
Management Accounting and Controlling
Develop the ability to apply modern controlling concepts concerning the profitability of
products and customer segments. Understanding the workings of asset and liability
management and how to judge the financial status of a company based on balance sheet
and profit or loss.
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Modern methods of cost calculation for products, services, processes, and clients
Methods of internal cost allocation and their consequences
Asset and liability management
Balance sheet and profit and loss analysis
Examples of existing cost calculations and their
uses
Interpersonal Skills For Dealing With High-Net-Worth Individuals
Understanding the ethical concepts in wealth management based on different cultural
backgrounds and different historical developments. Developing sensitivity towards codes
of conducts in different cultures. Strengthening personal skills in handling demanding
high-net-worth individuals both in business and in social settings, and how to improve
your negotiation skills with customers.
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Cultural and psychological frameworks of wealth
Negotiation skills and role-plays
Marketing For The Financial Industry
Develop an integrated service concept for high net-worth individuals and determine how
to implement suitable client segmentation. Understand the consequences of different
service and pricing strategies and distribution channel policies. Demonstrate how to build
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sustainable customer loyalty for high-net-worth individuals, and how to define,
implement and secure a service culture perceived as value-added by the client.
Furthermore, you will learn about the possibilities provided by modern customer
relationship management systems and data-mining techniques and how to apply to the
setting of high-net-worth individuals.
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Approaches to marketing
Customer behavior and client segmentation
Designation: Chartered Trust and Estate Planner (CTEP) – Global Estate Planning.
A Credential offered for those who International Trust and Estate Planning
Diploma Course Specialization
Professional Knowledge Areas
The interdisciplinary curriculum for the Chartered Trust and Estate Planner is geared
entirely towards the focus on trust and estate planning for domestic and international
clients. A core group of specialty graduate topics focuses on the major functional issues
of high net-worth consulting, ranging from tax, finance to law and integrative wealth
management practice. Another critical aspect of advising the wealthy individual, family,
addresses the interpersonal skills so crucial to this business. The course will cover such
planning obstacles, such as, Common Law and Civil Law jurisdictions, a non-resident
alien spouse and tangible and non-tangible assets in multiple jurisdictions.
The last part of the CTEP™ course objectives deals with investment management issues
of trust, such as financial and legal considerations that effect decisions regarding trusts.
Pre-Requisites
Delegates must satisfy one of the following prerequisites:
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Have successfully completed a recognized degree course with a Finance,
Accounting, Economics, or Financial Services Focus.
Hold membership of a professional body such as CPA, CFP, CFA, or similar.
Have 3 years of relevant experience in a Financial Service related body.
Certification
Completion of this course entitles the candidate to receive the academic designation of
Chartered Trust and Estate Planner™ or CTEP™. Formal qualifications are certified
by the American Academy of Financial Management and the Royal Society of Fellows,
and are recognized in more than 100 countries and by 560 universities globally.
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Why obtain a certification?
The ongoing march of globalization has brought new challenges and opportunities for the
financial business sector.
Consumers are becoming more and more confident. They are no longer accepting bad
service and inferior products. However, what remains the same is that the consumer of
today and tomorrow still wants more than they have.
Success will therefore come to those organizations and advisors that can package, market
and deliver the products and services that the customers truly need in a manner they
really want. In financial services in particular this has, so far, been a hard lesson to learn.
The organizations whose advisors which successfully master wealth management on
behalf of its high net-worth (HNW) clients will have achieved a source of sustainable and
largely off-balance sheet income. The opportunity to benchmark against the competition
equips you with the capability to enhance the value of your business and tailor your
investment proposition in a manner that exceeds client expectations.
Reliance on shared backgrounds and leveraging family ties will not secure the advisor’s
future prosperity in today’s globally competitive markets. To compete effectively,
regional organizations need advisors and account executives with the professional
grounding to cultivate relationships equivalent to those offered by leading international
banks.
This three-five day intensive accredited program that results in a Board Certified
designation that is recognized by the NASD, provides the advisor with the opportunity to
learn how to successfully manage wealth through a core group of specialty graduate
topics, focused on the issues of high net worth consulting.
This professional course has been specially developed for all wealth managers and
advisors who are looking for a better understanding to achieve success for their
organization, to increase their knowledge and to provide a designation for their career
progression.
Through interactive sessions, sharing ideas and exchanging views among fellow
professionals and with our teaching professionals, we look forward to a lively and
comprehensive course for the benefit of your business and your career.
Areas of Course Study
Anti-Money Laundering
This course is an overview of our AML designation and covers Global Anti-Money
Laundering and provides an in-depth comparative study of U.S. and foreign national legal
responses and international responses to the problems of money laundering, economic
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crime, cyber-sabotage and terrorism. A comparative survey of the United States, United
Kingdom, Australia, Canada, the Caribbean and Latin America is undertaken. Issues
include the history of financial crimes and their regulation, methods of money laundering,
the interaction of organized crime groups and economic crime, the uses and abuses of
offshore financial centers, cyber-sabotage, the U.S. law of money laundering and asset
forfeiture with particular focus on the recent USA Patriot Act and international
configurations. Thus, the course is an analysis of the international regulation of money
movements. The student also learns the increasing role that the tax counsel plays in
compliance, due diligence investigations and the consequent civil and criminal liabilities
and ethical questions.
Personal Financial Planning, Estates, and Risk Management
The candidate will be exposed to advanced financial topics including wealth
accumulation and distribution, asset transfer, tax planning, and retirement planning. This
section will include a full discussion of insurance products including life, property,
health, disability, casualty and catastrophic coverage insurance. Also, the student will
learn techniques used to transfer assets during a client’s lifetime using planned gifts, as
well as, planning at death using wills and trusts.
Trust Management and Fiduciary Obligations
This module covers the fundamental aspects of trust law & trust documents and their
fiduciary powers, duties, and responsibilities within the scope of applicable law. The
candidate should already understand basic fiduciary relationships and activities that are
essential to traditional administration. This module also covers the trustee's
responsibilities relative to investing trust assets such as specific securities laws, relevant
ethical issues, and the prudent person & prudent investor rule The candidate will be
instructed on the fundamentals of the tax code related to taxation of trusts, personal
income and retirement assets and a discussion of trust taxes, the scope and requirements
of gift taxes, estate taxes and generation skipping transfer taxes.
Income, Gift and Estate Taxation and Planning
A complete discussion of the fundamentals of client portfolio management and the
economic markets including various types of investments (including securities
instruments). The candidate will learn more about defining the types of investments used
in trusts. The latter part of this lecture will expand on the methods used to select and
analyze stock and bond investments. Other topics include: The mechanics of portfolio
management, economic influences regarding trust investments, including the federal
reserve, business cycles, and economic indicators, and the legal considerations that affect
decisions regarding trusts.
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Master Financial Professional Designation (MFP)
AAFM accepts graduates of university Finance Programs on a case-by-case basis for the
MFP Designation. So, when a University is state sponsored and recognized, AAFM
usually recognizes the business school, etc. Thus, Graduates from University of West
Indies with a degree in finance, tax, economics, or accounting and another advanced
degree, would be eligible for the MFP (no additional courses would be necessary). In
addition, holders of this designation would have credit towards the CWM and CTEP
designations and would qualify for a 25% tuition deduction.
Designation: Certified Compliance Analyst – Anti-money Laundering (CCA)
A Credential offered for those who desire an Anti Money Laundering and
Compliance designation.
This course for bankers, trust officers, compliance officers and advisors covers Global
Anti-Money Laundering and provides an in-depth comparative study of U.S. and foreign
national legal responses and international responses to the problems of money laundering,
economic crime, cyber-sabotage and terrorism. A comparative survey of major countries,
i.e., United States, United Kingdom, Australia and Canada, is undertaken. Issues include
the history of financial crimes and their regulation, methods of money laundering, the
interaction of organized crime groups and economic crime, the uses and abuses of
offshore financial centers, cyber-sabotage, the U.S. law of money laundering and asset
forfeiture with particular focus on the recent USA Patriot Act and international
configurations. Thus, the course is an analysis of the international regulation of money
movements. The student also learns the increasing role that the tax counsel plays in
compliance, due diligence investigations and the consequent civil and criminal liabilities
and ethical questions.
This course also focuses on The Caribbean and Latin America. This course provides indepth analysis of the international regulation of money movements with particular regard
to Latin America and The Caribbean. The student continues to explore the due diligence
investigations of politically exposed persons, potential tax evaders and their counsel, and
the required filing of information with regulatory authorities, including "no tipping off"
rules.
We will also explore treaties designed to curb the international flow of "flying money".
In addition we will examine the new typologies for money launders as well as some of
the old tried and true washing methods of transforming illicit money into respectable
money. A portion of our time will be devoted to an examination of what is considered to
be the main event in this arena: the laws designed to take the profit from the criminal.
This will invoke, in part, examining the weapon we know as asset forfeiture and a new
weapon which has emerged within the boardrooms of organized crime: cyber crime.
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You may find other information about the AAFM/RSOF designations at:
http://mfsfinancial.com/bsiiexecutiveeducation/
To inquire about forming a class for your organization or group, please contact:
James A. Lavorgna, J.D., LL.M, CWM, CTEP, CFP at 704-902-0972 or
jlavorgna@gmail.com
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