Goals-based wealth management : an integrated and practical approach to changing the structure of wealth advisory practices /

• Κύριος συγγραφέας: Brunel, Jean L. P.
• Μορφή: Ηλ. βιβλίο
• Γλώσσα: English
• Έκδοση: Hoboken, New Jersey : John Wiley & Sons, Inc., [2015]
• Σειρά: Wiley finance series.
• Θέματα: Portfolio management.; Wealth > Management.; Investment advisors.; BUSINESS & ECONOMICS > Finance.; Electronic books.

Take a more active role in strategic asset allocation A Practical Guide to Goals-Based Wealth Management is amanual for protecting and growing client wealth in a way thatchanges both the services and profitability of the firm. Written bya 35-year veteran of international wealth education and analysi...

Πίνακας περιεχομένων:

• Cover; Title Page; Copyright; Contents; Acknowledgments; Preface; Introduction; Part 1 The Integrated Wealth Management Challenge; Chapter 1 Many Interrelated Disciplines; Multiple Sources of Capital; Expanding on the Corporate Analogy; Multiple Interactions; Educating Future Generations and Wealth Transfers; The Make or Buy Decision; The Creation of a Wisdom Council; Summary and Conclusions; Chapter 2 An Example of a Crucial Interaction: Tax-Efficiency; The Tax Bite and Its Impact on Compound Returns; A New Analysis of Capital Losses; An Expanded Definition of Active Management.
• Applicability to Both Asset and Security DecisionsAbandoning the Murky Middle: The Barbell Portfolio; The Potential Role and Limits of Derivative Strategies; Summary and Conclusions; Chapter 3 The Need for a Financial Interpreter; What Makes Markets Work?; Asset Classes, Sub-Asset Classes, and Strategies; Developing Reasonable Expectations; Performance Analysis and Reporting; Summary and Conclusions; Part 2 Investment Policy Formulation: Goals-Based Allocation; Chapter 4 A Brief Journey through Institutional Theory; Five Important Features of the Typical Institutional Investment Organization.
• A Quick Detour via Asset Liability ManagementSummary and Conclusions; Chapter 5 Mapping Institutional and Individual Issues; The First Crucial Difference; A Second Important Difference; A Different Way of Defining Risk; The Law of Large Numbers; Implications; Summary and Conclusions; Chapter 6 Goals-Based Strategic Asset Allocation; The Basic Principle; Initial Theoretical Objections; An Academic Imprimatur; A Few Simple Principles; It Changes Everything; An Interesting Implication; Summary and Conclusions; Part 3 Goals-Based Wealth Management Implementation.
• Chapter 7 Dealing with the Implications of the ProcessCovering a Set Number of Bases; Mapping Asset Classes and Strategies to Goals; Understanding Limitations; Dealing with Client Objections; A Three-Phase Process; Summary and Conclusions; Chapter 8 Creating Goals Modules; Developing General Capital Market Expectations; Describing Sufficiently Generic and Specific Goals; Creating Constraints Appropriate to Each Goal; Optimizing the Composition of Each Module; A Possible Example; Summary and Conclusions; Chapter 9 Working to Understand Client Goals and Goal Allocations.
• Identifying Crucial Initial Client ConstraintsDetermining Whether Any Constraint Is a Show-Stopper; Time Horizon and Required Probability of Success; Settling on the Appropriate Module; Sizing Assets Needed to Meet Each Goal; A Possible Example; Summary and Conclusions; Chapter 10 Finalizing a Goals-Based Policy Allocation; Two Possible Approaches; Working from Assets and Modules to a Whole; Description of Deviation Ranges; Our Original Example, Modified and Completed; Summary and Conclusions; Chapter 11 Managing the Portfolio Tactically; The Complexity in the Absence of a Systematic Tool.