Brunel Jean L.P. Goals-Based Wealth Management: An Integrated and Practical Approach to Changing the Structure of Wealth Advisory Practices

New Jersey.: Wiley, 2015. — 1 edition. — 272 p. — Wiley Finance. — ISBN10: 1118995902.Editorial Reviews
From the Inside FlapIf individual investors do not have a target asset or strategy allocation that is designed to meet their goals over time, what are the odds they will, in fact, meet them? Goals-Based Wealth Management offers a hands-on guide for protecting and growing client wealth in a way that transforms both the services and profitability of financial firms. Written by Jean Brunel — a noted veteran of international wealth education and analysis — this informative resource outlines an innovative approach to wealth management that gives individuals the power to take a more active role in the allocation of their assets.As the author explains, financial institutions and advisors need to help individuals clearly understand the relationship between their wealth and what it does for them. This important resource contains a detailed examination of the current goals-based approach to wealth management, and reveals what works and what needs to be revisited. Brunel then suggests a clear, understandable framework that allows the advisor/investor relationship to prosper and develop. This approach contains the necessary feedback loops so that individuals can avoid the most common investment pitfalls. Finally, the author suggests much-needed changes in the way the financial industry structures itself so that clients can be effectively served while other stakeholders can earn the rewards they deserve.The companion website includes readings that help secure a deep understanding of the key ideas and a spreadsheet with models to experience the goals-based asset allocation process.High-net-worth individuals face very specific challenges. Goals-Based Wealth Management focuses on how those challenges can be overcome while adhering to the individual's goals, incorporating constraints, and working within the investor's frame of reference to drive strategic allocation of their financial assets.From the Back Cover
Praise for Goals-Based Wealth Management"When in 2002 I wrote the foreword to Jean Brunel's groundbreaking first book, "Integrated Wealth Management," I noted how Jean 'was known for telling it like it is but shouldn't be... [and] inventing the way it could be.' In "Goals-Based Wealth Management," Jean is once again 'ahead of the pack, ' incorporating the best of the past decade's lessons by devoting his laser-like intellect to capture new and innovative ways to manage wealth -- and wealth management firms! This book will be a valuable reference for professionals for many decades to come." -- Charlotte B. Beyer, Founder, Institute for Private Investors and author, "Wealth Management Unwrapped""Already one of the deans of the private wealth field, Jean Brunel has written the definitive book on goals-based wealth management. He clearly outlines the rationale for this highly sensible and effective approach to investing and then takes great pains to show how it can actually be implemented in the real world. It is a brilliant and muchneeded piece of work which should be required reading for all true wealth advisors and, I dare say, many wealth owners themselves." -- Tom McCullough, Chairman and CEO, Northwood Family Office; Adjunct Professor, Rotman School of Management; and co-author, "Family Wealth Management""Good financial advisors are competent, conscientious, and compassionate guides. They guide clients to their goals as no robo-advisor can. Jean Brunel has been such a guide for decades. In this wonderful book, founded on behavioral portfolio theory, he helps fellow advisors do the same." --Meir Statman, Glenn Klimek Professor of Finance, Leavey School of Business"The uniqueness of the book is that it marries deep investment process knowledge with the experience of dealing with family clients for decades. Brunel's wisdom is particularly insightful in the role of the advisor." -- Maria Elena Lagomasino, Managing Partner and CEO, WE Family Offices"You'd be forgiven if you thought Jean Brunel's most significant contributions to the profession were behind him, but in this tome he has drawn on his wisdom accumulated over 40 years in practice to synthesize his work and others' to develop a definitive goals-based practice management framework for those serving the wealthy. Rather than replicate and rehash technical details, he draws on unassailable principles of wealth management, such as wealth being a responsibility for both the wealth manager and the wealth owner as well as the government sharing in both returns and risk with the taxable investor, to guide the wealth manager's practice. In doing so, he humbly defines an operating framework for the practitioner." -- Stephen M. Horan, Ph.D., Managing Director and Co-Lead, Education, CFA Institute""Goals-Based Wealth Management" is a provocative concept and a must read for individual wealth holders and their professional service providers. Wealth owners view their wealth individually and this concept gives a platform to achieve financial and non-financial goals. I recommend Jean Brunel's latest book to creators of wealth and the beneficiaries of that wealth creation. It is a responsible way to look at financial wealth in the context of individual and family integrated goals. We have been clients of Jean for more than a decade and have benefited from his ability to truly understand the objectives of his clients. I am so glad other families and professionals will now be exposed to this proactive approach." -- Jesse Fink, Managing Member, Marshall Street Management