The University of Chicago Graduate School of Business said it will offer an education programme in private wealth management for high net worth individuals and families in September.

The course, running from 22 September to 25 September, will be held at the school’s Gleacher Center in downtown Chicago, the university said.

The programme, which offers a strategic and integrated approach to wealth management, will help wealth owners grow and protect their financial capital while reinforcing personal values that support flourishing families.

"Managing wealth effectively is every bit as hard as creating it in the first place," says Stuart Lucas, co-director of the programme. "Now that they've made it, what do people want to accomplish with their wealth? It's a question not enough people ask. But we do." Mr Lucas said.

The Chicago course is open to 50 individuals.

A number of wealth management firms, such as Coutts, the UK private bank, and US investment firm Merrill Lynch, have launched education programmes for families of wealthy individuals.