The fortune that families have built across generations has allowed those responsible for it, to invest in different asset classes worldwide. These investments, made in volatile economic environments, were at times driven by reason, at other times by emotions. Today, in order to implement low risk wealth management strategies and long term sustainable performance, innovative tools and operating systems are needed to guide strategic decision making whilst mitigating risk.


This module’s objective is to provide both methodologies and applications to enable the evaluation of a family’s fortune as a whole. By analyzing the correlations between each single asset class, in the next module it will be possible to build a strategic plan, supported by measurable criteria.

Lesson 1.1.

How to evaluate a portfolio using a holistic approach

  • The calculus of probability about future returns by types of investment, in different horizon and macro-economic scenarios
  • An ex-post theoretical explanation on how the family’s fortune would have resulted in major past financial crises
  • The analysis of the correlation/decorrelation factors, considering exposures in securities and the operational activities of the subsidiaries

Lesson 1.2.

The evaluation criteria of Startup and Venture Capital

  • Venture Capital: the scenario
  • How to value a Startup
  • Private equity: evaluation criteria for participations
  • Private equity funds

Lesson 1.3.

 The evaluation criteria of Real Estate

  • Characteristics of real estate markets and investment process
  • Real Estate Assessment Methods and Techniques
  • Real Estate Assets: Indices and Benchmarks
  • Building a Real Estate Portfolio
  • Optimize the management of a real estate portfolio

Lesson 1.4.

The evaluation criteria of Art & collectibles

  • The art market
  • Family Art Charter
  • How to value a masterpiece
  • Evaluation of collectibles and classic cars
  • Artistic heritage: market, auctions,  expertises

Lesson 1.5.

The evaluation criteria of Liquid Asset

  • Criteria for assessing asset allocation
  • The analysis of correlation volatility / performance
  • The role of liquid assets for the Family Office
  • Liquidity and consequences on possible macro scenarios