Private wealth management is the investment management specialization focused on high-
net-worth individuals and families. Portfolio design and investment solutions in private …

A practical guide to adapting financial advice and investing to a post crisis world There's no
room for" business as usual" in today's investment management environment. Following the …

The authors examine the tax-aware investment practices of investment managers managing
taxable accounts. Their sample of mostly well-experienced CFA charter holders exhibits a …

Abstract Models developed in a pretax framework do not necessarily apply in an after-tax
framework, and this notion certainly applies to portfolio optimization. This article derives …

This article shows that extended mandates are especially effective for investors subject to
taxes. Not only is the portfolio more efficiently positioned from a before-tax perspective, but it …

As currently practiced, tax-loss selling of municipal bonds is typically an ad hoc yearend
exercise. Under dynamic tax management the right to execute a tax-beneficial trade is …

Methodological principles of constructing a set of performance management indicators
proved in order to build block of management control of direct taxes. Groups of indicators …

The focus of this paper is the tax option, which is the right to execute tax-beneficial
transactions. This option is a critical component of after-tax portfolio value. Some of the …

After-tax performance reporting is critical for taxable investors but is unfortunately often
overlooked due, in part, to its complexity and lack of offerings in the space. Instead, most …

This paper adds to the growing literature on after-tax asset valuation and asset allocation by
developing a model to value annuities on an after-tax basis. Qualified and non-qualified …