Bob Dannhauser, CFA, was the head of global private wealth management at CFA Institute.
Laurence B. Siegel and M. Barton Waring devised a way to balance an investor’s portfolio concerns by adopting a personal annuity structure, created by relating an asset portfolio’s value to a stream of annual spending over a term related to the remaining lifespan of the investor.
Kai Konrad painted a picture of troubled states increasingly doubtful of the European Union, warning “don’t expect much from Germany.”
Fidelity’s Andrew T. Fay estimates that the expense of running a single family begins to be justified at approximately $300 million in assets. Those who opt to pool expenses in a multifamily office, however, are sacrificing some degree of customization.
High-net-worth investors aren’t yet convinced that their investment managers are earning their keep. So said Scott Welch of Fortigent at the opening session of the Wealth Management 2013 conference in Boston today. “One of the few tangible things you can produce to prove you’re earning your fees is the performance report,” Welch said, adding that in his view, the current state of reporting is “shockingly bad.”
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