Tony Davidow has more than 35 years of experience in working with advisors, institutions, and ultra-high-net-worth investors regarding advanced asset allocation strategies, and the use of alternative investments. He's currently Senior Alternatives Strategist at the Franklin Templeton Institute. Previously, Davidow held senior leadership roles with Morgan Stanley, Guggenheim, and Schwab among other firms. He's a frequent writer and speaker with deep expertise in the use of alternative investments, asset allocation and portfolio construction, and goals-based investing. In 2020, he received the prestigious Investments & Wealth Institute Wealth Management Impact Award for his contributions to the wealth management industry; and in 2017, he was awarded the Stephen L. Kessler Writing Award for excellence in editorial contributions.
I wrote
Goals-Based Investing: A Visionary Framework for Wealth Management
David Swensen, the former CIO of the Yale Endowment, changed the way that institutions and individuals thought about, and allocated capital to alternative investments.
Swensen famously made big allocations to alternatives, delivering stellar returns, and spawning the “endowment model”. His approach was later adopted by other endowments and institutions as an intelligent allocation of capital.
In his fourteen years as Yale's chief investment officer, David Swensen has revolutionised management of the university's investment portfolio. By relying on nonconventional assets, including private equity and venture capital, Swensen has achieved a remarkable annualised return of 16.2 percent, which has added more than $2 billion to Yale's endowment. With his exceptional performance record prompting many other institutional portfolio managers to emulate his approach, Dr. Swensen has long been besieged by professionals in the field to write a book articulating his philosophy and strategies of portfolio management.
Pioneering Portfolio Managementprovides a road map for creating a successful investment programme.…
Raj Sharma is an industry veteran who has spent decades dealing with wealthy investors.
Sharma describes the evolution of the wealth management industry, and the importance of total wealth management. This is a good book for financial advisors who are beginning their careers, or for advisors who are seeking to evolve their practices to better meet their client’s needs.
There are gaps to be filled in the wealth management industry . . . and you can make the difference.
Talking about money is taboo in many families, for many reasons. This lack of transparency spells opportunity for the wealth manager who can offer sane, sound, and practical advice for handling money successfully. However, many wealth management firms aren’t representative of the people they serve. Most focus too narrowly on the ultrawealthy, and the business as a whole isn’t as diverse as the United States―and it should be. There’s a world of opportunity in the financial advisory business, particularly for…
Hersh Shefrin shares research and insights regarding behavioral biases, and how investors respond to emotional stimuli.
Even though the research on behavioral finance has been around for decades, it hasn't been effectively incorporated into advisor practices. Shefrin emphasizes the importance of financial advisors to understand and embrace behavioral finance. He argues to ignore these psychological tendencies would be foolish and unwise.
This book provides a comprehensive treatment of behavioural finance. With the use of the latest psychological research, Shefrin helps us to understand the human behaviour that guides stock selection, financial services, and corporate financial strategy. He argues that financial practitioners must acknowledge and understand behavioural finance - the application of psychology to financial behaviour - in order to avoid many of the investment pitfalls caused by human error. Shefrin points out the common but costly mistakes that money managers, security analysts, financial planners, investment bankers, and corporate leaders make, so that readers gain valuable insights into their own financial decisions…
Jean Brunel was one of the early adopters of goals-based investing.
Brunel shares insights from his decades working with high-net-worth investors. This book serves as a foundation for all those that followed, and provided credence to aligning investments to specific goals, rather than merely outperforming some arbitrary benchmark.
Take a more active role in strategic asset allocation
Goals-Based Wealth Management is a manual for protecting and growing client wealth in a way that changes both the services and profitability of the firm. Written by a 35-year veteran of international wealth education and analysis, this informative guide explains a new approach to wealth management that allows individuals to take on a more active role in the allocation of their assets. Coverage includes a detailed examination of the goals-based approach, including what works and what needs to be revisited, and a clear, understandable model that allows advisors to help individuals…
David Darst offers a foundational perspective on the importance of asset allocation.
Darst examines the differences between strategic and tactical asset allocation, and the historical risk-return characteristics of asset classes. He also acknowledges some of the behavioral biases of investors and suggests how to deal with them effectively.
This is the all-in one guidebook for understanding - and profiting. It is from - today's most up-to-date, market-proven asset allocation strategies. All investing constitutes a trade-off between the returns you seek and the risks you are willing to take. Asset allocation involves the spreading of those risks in order to minimize their potential impact. Too often, however, even minor misuse of asset allocation principles can adversely affect portfolio performance - and lead advisors and investors to disregard the very tools they need to get their portfolios back on track. "The Art of Asset Allocation" is today's most comprehensive and…
The wealth management industry is at a key inflection point, with dramatic changes in the investing landscape, the types of investments, and manner in which advice will be delivered. Wealth advisors need to respond appropriately to these changes or risk being replaced by robots and algorithms. As challenging as the future seems, it will also present ample opportunities for those advisors that embrace the changes and evolve the way they do business
