PRIVATE WEALTH: WEALTH MANAGEMENT IN PRACTICE

Wealth management presents the latest research in lifecycle modeling, asset allocation, tax-advantaged savings accounts and tax-efficient wealth accumulation, and investment management for taxable private investors. Researched and written by leading academics and practitioners including Roger Ibbotson, Yale University; Moshe Milevsky, York University; Peng Chen, Ibbotson Associates; Kevin Zhu, Ibbotson Associates; Stephen Horan, St. Bonaventure University; Jarrod Wilcox, Wilcox Investment Inc.; Jeffrey Horvitz, Moreland Management Company; and Dan DiBartolomeo, Northfield Information Services Inc., this volume covers human capital and mortality risk in life cycle stages and proposes a life-cycle model for life transitions. It also addresses complex tax matters and provides detail on customizing investment theory applications to the taxable investor. Finally, the book analyzes the use of tax-deferred investment accounts as a means for wealth accumulation and presents a useful framework in various tax environments.

Stephen Horan (Charlottesville, VA) has served CFA Institute as both associate editor and abstractor for CFA Digest, and ad-hoc review for Financial Analysts Journal. Mr. Horan manages private wealth content as it relates to education and professional development for CFA Institute members. Prior to joining CFA Institute, he was a professor of finance at St. Bonaventure University, principal of Alesco Advisors LLC, and a financial analyst and forensic economist in private practice, providing expert witness testimony and preparing economic impact studies. Mr. Horan also served as account manager with Manning & Napier Advisors, Inc. and as stockbroker with Quick and Reilly, Inc. CFA Research Foundation (Charlottesville, VA): The Research Foundation encourages education for investment practitioners worldwide and funds, publishes, and distributes relevant research. The Foundation emphasizes research of practical value to investment professionals, while exploring new and challenging topics that provide a unique perspective in the rapidly evolving profession of investment management.