Financial Advice and Investment Decisions: A Manifesto for Change

While criticized for being too complex and risky, the worlds of finance and money do offer very positive opportunities. These include better financial advice, better financial decision-making, and better financial laws and regulations.

In Financial Advice and Investment Decisions: A Manifesto for Change, coauthors Jarrod Wilcox and Frank Fabozzi build a foundation for further progress in this area by offering key facts, presenting small conceptual models to help you think about financial problems, and sharing advice from their extensive experience in this field.

Opening with an informative introduction to the reasons we need better financial advice and some compelling research supporting the thesis of widespread financial dysfunction, this reliable resource skillfully moves on to provide you with the building blocks for developing a productive framework for financial thinking. Here, you&;ll gain valuable insights on a variety of topics from the discretionary wealth approach to financial decisions, which helps one set risk tolerances for better long-term performance, to Bayesian probability thinking, which you can apply to the task of making investment choices.

Along the way, Wilcox and Fabozzi take the time to make the application of the building blocks more concrete through detailed discussions regarding implementation. You&;ll become familiar with everything from matching investment vehicles to needs to tax-efficient investing to practical ideas for  better performance measurement. The coauthors conclude the conversation with an engaging look at the relationship between financial advice and the society we live in &; and how better financial decision-making can have a profound impact on our modern financial oriented society.

Filled with practical advice, realistic recommendations, and illustrative examples, this book is a clear call to action for better financial advice and makes a solid case for how we can get there.

Our financial system and personal financial decisions are both inherently complex. However, there is an abundance of opportunities for improvement.

Nobody understands this better than coauthors Jarrod Wilcox and Frank Fabozzi. Now, in Financial Advice and Investment Decisions: A Manifesto for Change, they build a foundation for further progress in this area by offering key facts, presenting easy-to-remember conceptual models to help you think about financial problems, and sharing advice from their extensive experience in this filed.
Engaging and informative, this reliable resource skillfully provides you with the building blocks for developing a productive framework for financial thinking and puts them in perspective through detailed discussions regarding implementation. Along the way, it:

&; Outlines models for financial planning using balance sheets extended to include planned future cash flows.

&; Explores the concept of &;mostly&; efficient markets, which upends conventional thinking

&; Looks at the discretionary wealth approach to financial decisions – which helps set risk tolerances for better long-term performance.

&; Talks about more tax-efficient investing

&; Distinguishes active from passive investing and discusses when each is appropriate

&; And much more

Everywhere you look, there are opportunities for better financial decision-making. This book will put you in a better position to achieve this elusive goal.