Courses in wealth management

Today's Wall Street Journal ($) reports on the rising demand from rich families for help in learning how to manage their wealth. College courses range from a $6,975 , four-day program at the University of Chicago Graduate School of Business to $99 for two evening classes at the University of Miami Continuing and International Education Center on "Preserving and Transferring Wealth. Perhaps most intriguing is Tiger 21, a peer-education group that meets monthly to share insights and experiences. Annual membership dues are $25,000, and reportedly there's no difficulty in attracting members.

There 's certainly lots to talk about for the rich, from hedge funds to unstable tax laws to new developments in philanthropy. So what's the number one question that the rich ask?

Those who teach wealthy clients say the topics most in demand are some of the most basic, such as choosing a financial adviser and deciphering cryptic bank and trust statements. "The biggest question we get is, 'How do I know if my adviser is doing any good?'" says Douglas Freeman, chairman of IFF Advisors, which offers a variety of wealth-education programs. (A customized educational program for a family would cost about $10,000 for a weekend course.) "We teach them how to monitor and measure performance."

Is there a role for an Investment and Trust Newsletter here?