New Approach to Goals Based Wealth Management
Series: . 3 ; 16Publication details: 2018-07-25Description: 27Subject(s): In: JOURNAL OF INVESTMENT MANAGEMENTSummary: "We introduce a novel framework for goals based wealth management where risk is understood as the probability of investors not attaining their goals, not just the standard deviation of investors portfolios. Our framework is based on a foundation of development in behavioral economics and finance and its consistent with modern portfolio theory. using a simple geometric analysis we determine specific portfolio that matches each individual investors stated goals. Our approach requires information from the investors about their goals elicited in a clear manner that market research shows is superior to common current practices. This new approach can improve the communication between advisors and clients and produce better advice for enabling clients to attain their goals with high probability through the use of efficient portfolios."| Item type | Current library | Status | Barcode | |
|---|---|---|---|---|
| Article | St. Francis Institute of Management and Research | Available | AR0745 |
"We introduce a novel framework for goals based wealth management where risk is understood as the probability of investors not attaining their goals, not just the standard deviation of investors portfolios. Our framework is based on a foundation of development in behavioral economics and finance and its consistent with modern portfolio theory. using a simple geometric analysis we determine specific portfolio that matches each individual investors stated goals. Our approach requires information from the investors about their goals elicited in a clear manner that market research shows is superior to common current practices. This new approach can improve the communication between advisors and clients and produce better advice for enabling clients to attain their goals with high probability through the use of efficient portfolios."
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