We believe in providing our clients, colleagues and the media with access to cutting-edge unbiased research on wealth management and the other areas of personal finance that impact the wealth management process. Our articles are posted in PDF format unless noted otherwise. 

Investments and Investing

Are You Racing With A 300 lb. Coxswain?

In this article, colleagues at On Keel Capital review the negative impact of retail investment fees and how they create a drag on investor returns. (Read more here....)

Penny Saved, Penny Earned

What will the market do next year? How about next week? We all think that market returns are the driver in long-term investment success. In this research paper, Vanguard tells us how three more important factors are likely to take the lead role in determining our long-term results. This paper is provided by © The Vanguard Group, Inc. and is used with permission. (You can read this informative article here....)

Seeking Stability

It would seem to make sense that the closer you get to retirement or as you move through it, that this would be the time to be much less aggressive in your investment planning. This article tells us that historical research suggests that getting conservative at retirement might just be exactly the wrong thing to do. (Find out why...)

Defensive Equity Investing- Appealing Theory, Disappointing Reality

We've heard time and time again that there are recession proof stocks, sectors and companies. As it turns out, not only is that story not quite accurate, the ability to tell when recessionary periods are close at hand are almost as unreliable as your faith in recession proof stocks. In this research paper, Vanguard demonstrates the fallacy of defensive investing. This article is provided by © The Vanguard Group, Inc. and is used with permission. (Read about it here..)

The Arithmetic Of Active Management 

We all tend to think that there's some magical mathematical underpinnings to assessing the investment world. According to this article by Nobel Laureate and Standford Professor Bill Sharpe, it takes little more than grammar school math and the ability to discern facts (Understand how here....

Dalbar Research- Quantitive Analysis Of Investor Behavior (QAIB) 2012

In their ongoing research series, Dalbar sites the cold hard facts on the failed efforts of retail investors to make timely or profitable investment decisions. (Check out the report here...)

The Error Proof Portfolio- Inflation Could Destroy Your Retirement If You're Not Careful

Research shows that getting too conservative can be the death nell for retirement investors. (Get the information here..)

Bond Funds- You Get Exactly What You Don't Pay For

While we continue to advocate for the impartiality of "academic research" the publication of new papers continue to support our belief in the unbiased nature of the academic process. In this paper, Professors Domain of York University and Reichenstein of Baylor, find what we've long know. ( 1 ) the best performing bond funds are the ones with the lowest expenses and (2) "gaming" Morningstar's rating system is a relatively frequent practice. ( Check it out here....)

Mutual Fund Trading Costs Go Unreported

In this Wall Street Journal article,  author Anna Prior explains what we've long known, the cost of buying and selling securities by mutual fund managers can add an exorbitant amount of cost to your actively managed mutual fund portfolio. (Find out how much more it costs you here...)

The High Cost of 401k Fees

Want to know what one of the biggest impediments to successful retirement investing is? Yup, the costs. As we've counseled clients time and again, paying too much for your investments is a sure-fire way to turn in lack-luster returns.

( Read how overpaying can hurt your retirement chances...)

Wealth Management

Delaying Retirement Won't Guarantee Affordability 

EBRI (The Economic Benefits Research Institute) shows us why working longer, while a good option for most retirees, doesn't assure us of our ability to live retirement in a manner to which we'd like to be accustomed? How can that be? Find out why by reading the research here....

Yet Another Reality Check For Baby-Boomers

Alicia Munnell, Director of the Center for Retirement Research at Boston College, may have called it just right.

"We have needs increasing, early retirement and rising healthcare, the whole system is contracting. Social Security is producing less and people make too many mistakes and dont' save enough on their own, and this was before the financial crisis..."  (Want the rest of the story, you can read it right here..)


The Next Black Swan

Not all the next shoes that could drop are so immediately visible, some are hidden. In this article, Robert Huebscher references some daunting economic details, such as the one espoused by Orin Kramer, the chairman of the New Jersey State Investment Council, who estimates that nation wide, public pensions are underfunded by as much as $1 trillion dollars. (Want to learn more about one of the "hidden shoes?" Check it out here..)

The Investors Paradox 

In this article, David Hecht from the Brandes Institute explains how "choices" can sidetrack even the best laid initial investment plan. (Learn more about the power of choices....)