Asset allocation in private wealth management: theory versus practice
Schröder, David (2013) Asset allocation in private wealth management: theory versus practice. Journal of Asset Management 14 , pp. 162-181. ISSN 1470-8272.
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Abstract
This study analyzes the responses to a representative survey of wealth advisors on private wealth management practices, and compares the advisors' views to academic research in household finance. This study demonstrates that many wealth managers do not apply novel insights proposed by financial economists when advising their clients. Many practitioners focus on managing only the market risk exposure of their clients' portfolios. Although financial research has stressed the importance of incorporating human capital, planned future expenditures and the investment time horizon into the investor's asset allocation, these aspects are neglected by most practitioners.
Metadata
| Item Type: | Article |
|---|---|
| Keyword(s) / Subject(s): | private banking, household finance, private wealth management, survey, portfolio choice, asset allocation |
| School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Depositing User: | David Schroeder |
| Date Deposited: | 09 Jan 2014 15:15 |
| Last Modified: | 02 Aug 2023 17:07 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/8251 |
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