The recently launched Alliance University, a training and education venture designed for the wealth management sector, has announced its first scheduled program, due to start on 10 November in Chicago. The deadline for registration for the inaugural class is 27 October.

Alliance University has been set up by the Family Wealth Alliance. The first of two sessions is being held at the University’s Gleacher Center. The final two sessions will be repeated in the first quarter of next year.

Despite the upheavals during the financial crisis, the shortage of well-trained wealth management professionals remains a constant source of complaint from the industry and clients. Steps have been taken to try and address the situation in different parts of the world. In September, it was announced that the Institute for Wealth Management Standards, a new venture, is due to start operations early next year, following a consultation process with families around the world. It is being put together by UK-based Campden Media, Don Trone, who, among other roles, is president of the US Foundation for Fiduciary Studies, and Lowenhaupt Global Advisors.

At Alliance University, students finishing one of the four opening sessions will be awarded a certificate of completion. They will also be eligible to apply for the in-depth, multidisciplinary program lasting approximately two years. This in-depth program is expected to commence in 2010 and would conclude with the granting of a professional designation in family office relationship management to successful graduates.

Family Wealth Alliance says this is one of the first attempts in the US to create a specific wealth management education program and qualification.

To view more information about Alliance University, click here.