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Integrated Wealth Management: The New Direction for Portfolio Managers, 2nd Edition
Euromoney Trading Ltd, March 2002, Pages: 200
Newly revised and updated, Jean Brunel's best-selling text on advising high-net-worth portfolio managers is now available.
The guru of wealth management provides you with unique insight into how to make strategic, long-term decisions in the best interests of your clients.
Includes two new chapters on behavioural finance in the strategic asset allocation process; and investing in hedge funds and alternative investments.
Integrated Wealth Management emphasizes how the high-net-worth portfolio manager must follow a different set of rules, from institutional counterparts. The author gives 'step by step' tools to make long term decisions that will be in the best interest of clients.
Private wealth management is a new, discrete discipline, and not just a variation on the traditional investment management theme. The factors necessitating this new discipline include taxation, using options and risk strategies, individual cash flow needs and investor psychology. As an investment advisor, conventional wisdom needs to be challenged or you will be putting your client's legacy at risk.
Integrated Wealth Management: The New Direction for Portfolio Managers answers such key questions as:
- How do I create 'after-tax alpha' for my client?
- How do I define an appropriate asset mix that makes sense over time?
- What are the costs associated with tax-efficiency?
- How do I best define an achievable goal for my client?
- What strategies of the 'active versus passive management debate' apply to taxable wealth?
- Am I over-estimating my client's tolerance for risk?
- What can I do to assess volatility for decision-making purposes?
- Why do so many investment theories ignore taxes -- and why is that so dangerous?
In Integrated Wealth Management , five major sections address the foundation of a new paradigm for wealth management:
- Opportunities and issues
- Planning
- Implementing
- Supervising
- Monitoring a wealth management strategy.
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