headshot of David Blanchett of Morningstar. Advisors who limit client wealth planning to their portfolio are missing a big part of doing their job correctly. Instead, they should be looking at a client’s total economic worth, including assets and liabilities, to determine the best “holistic” portfolio, said David Blanchett, Morningstar’s director of retirement research.
In his webinar Tuesday, “No Portfolio is an Island: Optimal Accumulation Portfolios,” Blanchett discussed three areas in which clients have accumulated wealth outside a portfolio that an advisor manages: 1) human capital, that is the net present value of future earnings, 2) housing wealth, and 3) […]
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