Development of the Private Wealth Management Industry

Authors

  • Alexey KACHALOV

Abstract

The relevance of the paper is caused by rapid growth of private wealth management industry which demands new approaches to wealth management. Study of private wealth management industry evolution and milestones provides us with unique perspective of techniques of portfolio management and how they were originated. The most important aspect is that parameters of portfolio selection dramatically changed less than in century and composition of portfolio now is linked not only to risk/return characteristics of securities but also to behavioral profile of investor. The subject of the study is new approaches to portfolio management in financial market, which results close link between investor portfolio, goals of investor and his behavioral biases. The aim of the study is to identify and describe current stage of portfolio management industry, provide its characteristics and how it affects financial market.

 

Published

2020-11-01

Issue

Section

Articles