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    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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    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.


    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


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