Goals-Based Wealth Management + Website : An Integrated and Practical Approach to Changing the Structure of Wealth Advisory Practices

Take a more active role in strategic asset allocation A Practical Guide to Goals-Based Wealth Managementis a manual for protecting and growing client wealth in a way that changes both the services and profitability of the firm. Written by a 35-year veteran of international wealth education and analysis, this informative guide explains a new approach to wealth management that allows individuals to take on a more active role in the allocation of their assets. Coverage includes a detailed examination of the goals-based approach, including what works and what needs to be revisited, and a clear, understandable model that allows advisors to help individuals to navigate complex processes. The companion website offers ancillary readings, practice management checklists, and assessments that help readers secure a deep understanding of the key ideas that make goals-based wealth management work.The goals-based wealth management approach was pioneered in 2002, but has seen a slow evolution and only modest refinements largely due to a lack of wide-scale adoption. This book takes the first steps toward finalizing the approach, by delineating the effective and ineffective aspects of traditional approaches, and proposing changes that could bring better value to practitioners and their clients.Understand the challenges faced by the affluent and wealthyExamine strategic asset allocation and investment policy formulationLearn a model for dealing with the asset allocation processLearn why the structure of the typical advisory firm needs to changeHigh-net-worth individuals face very specific challenges. A PracticalGoals-Based Wealth Managementfocuses on how those challenges can be overcome while adhering to their goals, incorporating constraints, and working within the individual's frame of reference to drive strategic allocation of their financial assets. JEAN BRUNEL, CFA,is the managing principal of Brunel Associates, a firm that serves ultra-high-networth individuals and their advisors. Formerly he was the chief investment officer of J.P. Morgan's global private bank and a director and member of the Executive Committee of J.P. Morgan Investment Management, Inc. He has been the editor of the Journal of Wealth Managementsince 1998 and the author of Integrated Wealth Management: The New Direction for Portfolio Managers, as well as many peer-reviewed articles. He received the C. Stewart Shepard award from the CFA Institute in 2011 and the Multi-Family Family Office CIO of the Year award from the Family Office Review in 2012.

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Year of publication:	2015 ; 1. Aufl.
Authors:	Brunel, Jean L. P.
Publisher:	[s.l.] : Wiley
Subject:	Portfolio-Management \| Portfolio selection \| Vermögensverwaltung \| Asset management \| Website
Description of contents:	Table of Contents [gbv.de]

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Extent:	Online Ressource (1803 KB, 272 S.)
Series:	Wiley Finance Wiley Finance Ser.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Description based upon print version of record 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 Introducing the Concept of a Tilt Model
ISBN:	1-118-99590-2 ; 1-118-99593-7 ; 978-1-118-99593-8 ; 978-1-118-99590-7
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011680753