Traditional financial advisors provide portfolio management coupled with financial planning services. Clients meet face-to-face with a dedicated financial planner to discuss their overall financial picture and inventory assets and liabilities. You can hire a financial advisor to craft an overall financial plan or one to achieve specific goals, such as investing for higher education. The office may outsource some of the tasks (and some even use robo-advisors to manage customer investment accounts).
Asking someone whether they’ll beat the market is a pretty good litmus test for whether you want to work with them. What they should be promising is good advice across a range of issues, not just investments. And inside your portfolio, they should be asking you about how many risks you want to take, how long your time horizon is and bragging about their ability to help you achieve your goals while keeping you from losing your shirt when the economy or the markets sag.

Portfolio alpha is obtained by measuring the difference between the return of the portfolio and that of a benchmark portfolio. This measure appears to be the only reliable performance measure to evaluate active management. In fact, we have to distinguish between normal returns, provided by the fair reward for portfolio exposure to different risks, and obtained through passive management, from abnormal performance (or outperformance) due to the manager's skill (or luck), whether through market timing, stock picking, or good fortune. The first component is related to allocation and style investment choices, which may not be under the sole control of the manager, and depends on the economic context, while the second component is an evaluation of the success of the manager's decisions. Only the latter, measured by alpha, allows the evaluation of the manager's true performance (but then, only if you assume that any outperformance is due to skill and not luck).

Ayco provides company-sponsored financial counseling to employees across Corporate America. Ayco advisors educate and guide implementation across a broad range of financial topics, including employee benefits. Ayco believes companies best serve their stakeholders and the greater economy when their employees’ financial lives are clear, understood and in their control.

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Philosophy refers to the overarching beliefs of the investment organization. For example: (i) Does the manager buy growth or value shares, or a combination of the two (and why)? (ii) Do they believe in market timing (and on what evidence)? (iii) Do they rely on external research or do they employ a team of researchers? It is helpful if any and all of such fundamental beliefs are supported by proof-statements.

Fund performance is often thought to be the acid test of fund management, and in the institutional context, accurate measurement is a necessity. For that purpose, institutions measure the performance of each fund (and usually for internal purposes components of each fund) under their management, and performance is also measured by external firms that specialize in performance measurement. The leading performance measurement firms (e.g. Russell Investment Group in the US or BI-SAM[5] in Europe) compile aggregate industry data, e.g., showing how funds in general performed against given indices and peer groups over various time periods.
When most people think about life insurance, it is something to be purchased when we’re young with financial responsibilities and dependents to protect. Any discussion about purchasing life insurance after we retire is often met with strong opinions as to whether or not it makes any financial sense. After all, the cost of life insurance increases significantly over the age of 65.
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Starting a business. Hanging an "open for business" sign on the door falls into what Hyers calls a "debt issue. Anytime you are taking on significant debt, that's a big deal," he says. "There is usually a debt stage in life for most people and it's often an overlooked time because the last thing someone wants to do when they are taking on debt is add an additional expense in the way of life insurance premiums." However, a life policy can prove invaluable in the event of an untimely demise, especially when you have dependents, Hyers adds. "When a business owner passes away prematurely, and there is no life insurance, it can oftentimes sink the business," he says. "There are no immediate assets to keep it going and too often there is not a succession plan."
You will first explore the different biases that we, as humans, are subjected to when facing investment decisions and how they may impact the outcomes of these decisions. Moreover, you will see how emotions and ethical concerns such as honesty and trust influence market participants. When they are considered as a group rather than individually, you will discover how rationality and irrationality can drive asset prices to and away from their fair value. Finally, you will be presented with different portfolio construction methodologies and investment styles that make up the landscape of today's portfolio management industry. At key points throughout the course, you will benefit from the practical knowledge of experts from our corporate partner, UBS, in how to build and manage clients' portfolios.
The planner might have a specialty in investments, taxes, retirement, and/or estate planning. Further, the financial planner may hold various licenses or designations, such as Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), Chartered Financial Consultant (ChFC), or Certified Investment Management Analyst (CIMA), among others. To obtain each of these licensures, the financial planner must complete a different set of education, examination, and work history requirements.
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