Practical analysis for investment professionals

wealth management


Three Lessons from the Bernie Madoff Scandal

Norb Vonnegut culls three lessons from HBO's recent Bernie Madoff biopic. Taken together, they serve as a renewed prompt for investors to consider low-cost index funds. After all, these funds are hardly exclusive. The world is vetting them constantly. So long as investors reinvest dividends and other cash flows back into the funds, the annualized returns are a real measure of investment performance: What you see is what you get. And what’s better than that?

Book Review: Household Finance

Household finance was once the investment and planning wallflower, but this is no longer the case. Stacked vertically, these three tomes, numbering about 1,000 pages each, could well serve as a footstool. And just as a footstool provides access to something otherwise out of reach, this extensive collection affords readers access to a rich chronology of developments in this field hitherto dispersed in academic journals.

Investing Lessons from Epictetus: Focus on What You Can Control

The Stoic philosopher Epictetus has something to teach the investment profession, says Mimmi Kheddache Jendeby.

Differentiate Yourself: Building a Client-Oriented Culture

What do you need to do to survive in the wealth management industry today? Two words: Differentiate yourself. That was the message delivered by Isaac Presley, CFA, Blair duQuesnay, CFA, and John T. Elmes II, CFA, during a discussion on building a client-oriented culture at the 70th CFA Institute Annual Conference in Philadelphia.

How to Manage Clients’ Emotional Reactions to Market Stress

Identifying a client’s emotional profile and understanding how those emotions influence financial decisions can help advisers keep the client on course through difficult times.

Trust and Fiduciary Services: Questions to Consider

We are socialized to believe that we get what we pay for. In the case of trustee and planning services, does the lack of a stated fee imply to clients that these services have little value? Preston McSwain offers his perspective.

The Active Equity Renaissance: Behavioral Financial Markets

Jason Voss, CFA, and C. Thomas Howard have questioned many orthodoxies of modern portfolio theory (MPT). But what do they propose to take their place? Behavioral finance.

The Fintech Files: Understanding Blockchain

Blockchain is an often discussed, rarely understood topic. What is it all about? What changes will it bring to financial services? What are the benefits and road blocks? Larry Cao, CFA, asked Jennifer Qin of Deloitte for her take on these questions.

Three Steps to Beating Unconscious Bias

"How do we create, spread, and manage conscious inclusion in how we talk to clients and how we work with them?" Adrienne Penta asked. "Raise awareness, training, and then process."

Generating Alpha in China: The Missing Ingredient

With a combined market capitalization of $10 trillion, the Shenzhen and Shanghai stock exchanges are the second largest in the world, writes Tony Tan, DBA, CFA, and recent research demonstrates that, contrary to popular perception, they don't move in lockstep or mostly in response to macro factors. Investors searching for alpha cannot ignore them.



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