wealth management research papers

The Journal of Wealth Management

Edited by jean brunel and paul bouchey.

4 regular issues, First published in 1998, ISSN: 1534-7524, E-ISSN: 2374-1368

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BOOK REVIEW: The Ownership Dividend: The Coming Paradigm Shift in the US Stock Market by Daniel Peris

Paul Bouchey

Editor’s Letter

• Jean Brunel

Loss Harvesting or Gain Deferral? A Surprising Source of Tax Benefits of Tax-Aware Long-Short Strategies

• Stanley Krasner
• Nathan Sosner

Portfolio Diversification during Calm and Volatile Markets

• Javier Rodríguez

What Motivates Female Financial Advisors?

• Mark J. Mattia
• Laura Mattia
• Inga Timmerman

Commodity ETFs: Do They Add Value?

• Srinidhi Kanuri
• Robert W. McLeod

The Impact of Taxation on the Effective Tax Rate, Operating Risk, and Portfolio Risk Diversification Effectiveness under Risk Pooling

• Céline Gauthier
• Jean-Paul Paquin
• François-Éric Racicot
• David Tessier
• Raymond Théoret

Can Investors Make Informed Decisions on Investments for Improved Sustainability?

• Niklas Arvidsson
• Anna-Maria Nyquist

Not Your Father’s Mean-Variance Optimization

• Jonathan Handy

Can Convertible Bond Index Risk-Adjusted Return Characteristics Be Replicated?

• Edward N. W. Aw
• John Q. Jiang
• David W. Rossmiller

Emerging Topics in Family Offices

• Michael Kosnitzky
• Andrew L. Dworkin

The Tom Brady “Greatest of All Time” Effect and Its Impact on the Super Bowl Stock Market Predictor

• Thomas M. Krueger

A “Plug-and-Play,” Goal-Based, Dynamic Asset Allocation Model with Genetic Algorithms

• Ugo Pomante
• Vincenzo Farina
• Paolo Antonio Cucurachi

Sustaining Relational Capital: Contributions from Attachment Theory to Financial Advising and Wealth Management

• Oksana Yakushko
• Charles Eckhart

Market Timing, Selectivity, and Performance of Real Estate Mutual Funds

• Davinder Malhotra

Searching for Market-Outperforming ESG-Equity Mutual Funds

• Anthony Loviscek

Enhancing GARP Investing: Creating a New and Improved PEG Ratio

• Andrew H. Cohen

Investing Following Bad News: Worse Is Better

• Haim A. Mozes

Practical Applications of Asset Allocation—Commodities or Commodity Stocks?

• Sony Thomas
• S. S. S. Kumar

Practical Applications of Evaluating the Performance of World Allocation Funds

Practical applications of leading economic indicator and global stock market returns.

• Todd Feldman

Practical Applications of Reluctant Investors: A Behavioral Experiment

• Denver H. Travis
• Mehmet F. Dicle

Practical Applications of A Move in the Right Direction: Client Relationships in Financial Advice

• Katherine H. M. Hunt
• Mark Brimble
• Brett Freudenberg

Practical Applications of Emerging Market Diversification Benefits: Stock Funds versus Currency Funds

• Leonard L. Lundstrum

Practical Applications of Income Investing in a Low-Yield Environment

• David M. Blanchett

Practical Applications of Risk Tolerance, Return Expectations, and Other Factors Impacting Investment Decisions

• Sam Sivarajan
• Oscar De Bruijn

Practical Applications of The Outlook for Endowment and Pension Funds

• John Launny Steffens

Practical Applications of Relative Importance of Sustainability Measures and Costs in Mutual Fund Selection

• C. Edward Chang
• H. Doug Witte

About the Journal

The Journal of Wealth Management  (JWM) is the only peer-reviewed journal devoted exclusively to original research and practical guidance for high-net-worth investors and family offices. The JWM addresses the investment concerns of wealthy families and keeps practitioners abreast of the latest investment strategies in private asset management. Themes of the JWM include generating high after-tax returns while mitigating volatility, balancing tax and risk concerns, optimizing asset allocation and money management selection, determining hedge fund allocation and employing effective performance measurement techniques, and using estate planning to enhance cross-generational wealth concerns. The JWM offers a unique and in-depth view into the world of wealth management.

The mission of  The Journal of Wealth Management  (JWM) is to provide thought-provoking analysis and practical wealth management techniques to help advisors and the individuals and families they serve be responsible stewards of wealth for the benefit of the world and future generations. 

Carrying out this mission involves two discrete areas of focus. The first relates to the multidisciplinary nature of the endeavor. Managing individual wealth requires one to deal with a wide range of professional disciplines covering the many facets of the task: behavioral finance, traditional finance, income and transfer rules, taxation issues, philanthropic matters, risk management, family education, globalization, and a number of others. Several of these individual issues collide with one another, and the successful wealth management effort will involve dealing with these conflicts. The second area of focus requires the need to deal with a wide variety of environmental, social, and governance issues that need to be studied and analyzed thoroughly and explained clearly and concisely to non-specialists or non-experts. Families, particularly multi-generational families, are indeed bombarded by news and commentaries which often suggest courses of action that may not accrue to the family’s benefit in the end. Understanding the underlying issues will help them ask the right questions.

JWM is for senior executives at family offices, multi-family offices, private banks, Registered Investment Advisor firms, and independent financial advisors. The content is a must-read for those making decisions about asset allocation, manager selection, and performance evaluation on behalf of individuals and families, rather than institutions. Client-facing individuals benefit from a deeper understanding of the many disciplines that intersect in the practice of wealth management, and JWM gives them the tools to approach tough conversations with confidence. Other service providers, such as tax planners, estate lawyers, and insurance agents whose roles fit within the multi-disciplinary framework of wealth management and advice, also will benefit from reading the JWM.

History 

In the late 1990s, a surge in high-net-worth individuals led to an increase in private investment needs. At the time, the majority of investing research was written about institutional portfolio management. In order to establish a platform for research and to meet the growing need for information on taxable portfolio management,  The Journal of Wealth Management  was launched in the spring of 1998 as  The Journal of Private Portfolio Management , with Jean Brunel as the Founding Editor. Later, the Journal was renamed  The Journal of Wealth Management  as it is today. 

Australian Business Deans Council, Google Scholar, Scopus

Jean L.P. Brunel

Jean Brunel is the managing principal of Brunel Associates, a firm founded in 2001 to serve ultra-high-net-worth individuals and their advisors. Prior to founding Brunel Associates, he spent the bulk of his career with J.P. Morgan, becoming, in 1990, the Chief Investment Officer of JP Morgan’s global private bank and a Director and Member of the Executive Committee of J.P. Morgan Investment Management, Inc. He has been the Editor of  The Journal of Wealth Management  since its founding in 1998 and he has authored two books – Integrated Wealth Management: The New Direction for Portfolio Managers, by Euromoney (2002, 2006), and A Practical Guide to Goals-Based Wealth Management, by Wiley and Sons (2015) – as well as many peer-reviewed articles. 

Explore more research from Mr. Brunel

Paul Bouchey, CFA, is the Chief Investment Officer at Parametric, an investment firm based in Seattle, Washington, with more than $200 billion under management, and is responsible for investment, research, and strategy development. Prior to joining Parametric in 2006, he was a senior researcher at Russell Investment Group, where he focused on simulation, optimization, and quantitative decision models for institutional and private clients. He holds a patent on cross-sectional volatility indexing and has authored numerous academic and practitioner articles in journals such as The Journal of Portfolio Management, The Journal of Wealth Management, and The Journal of Index Investing. Paul earned a B.A. in Mathematics and Physics from Whitman College and an M.S. in Computational Finance and Risk Management from the Applied Mathematics Department at the University of Washington. He holds the Chartered Financial Analyst designation. Recent research includes titles such as "Systematic Diversification Using Beta" and "Core Versus Satellite: How much should a taxable investor allocate to the core equity portfolio?" and "The Role of ETFs in Tax Management." Paul is an accomplished and engaging speaker, focusing on topics relevant to investment advisors: indexing, factor-based portfolios, tax management, quantitative equity portfolio management, rebalancing, and volatility harvesting. His research and strategies revolve around the idea that the investment industry can be transformed through increased transparency, lower costs, and higher return-to-risk efficiency.

Explore more research from Mr. Bouchey

Jean L.P. Brunel  | Managing Principal, Brunel Associates, LLC Paul Bouchey  | Parametric Portfolio Associates

Ambassador Board

Charlotte Beyer | Principle Quest Foundation Gordon B. Fowler, Jr. | The Glenmede Trust Company NA James P. Garland | The Jeffrey Company James E. Hughes | Wise Counsel Research William Reichenstein | Baylor University Meir Statman | Santa Clara University

Advisory Board

Jan Annaert | University of Antwerp & Antwerp Management School Roberto Apelfeld | Western Asset Management Company Chad Armstrong | WWA Integrated Wealth Strategy Group Tom Arnold | University of Richmond Fredda Herz Brown  | Relative Solutions Chuck Carroll | TFO Phoenix Adrian J. Cronje | Balentine Lee M. Dunham | Creighton University Jim Foster | Greycourt & Co., Inc. Mark Hays | The Glenmede Trust Company NA Stephen M. Horan | University of North Carolina Wilmington Kevin D. Irwin, Jr. | Knollwood Investment Advisory, LLC Dennis Jaffe | BanyanGlobal Family Business Advisors Maher Kooli | Université du Quebec à Montréal Philip Marcovici | The Offices of Philip Marcovici Limited Tom McCullough | Northwood Family Office LP Peter Mladina | Northern Trust W. Jackson Parham, Jr. | Eton Advisors, LP Franklin J. Parker, CFA | Directional Advisors Willi Semmler | The New School Clemens Sialm | University of Texas at Austin Nathan Sosner | AQR Capital Management Raymond Théoret | Université du Quebec à Montréal (ESG-UQAM) Jos van Bommel | University of Luxembourg Scott Welch | WisdomTree Asset Management John Workman  | Pathstone

Submit an Article Online

• Papers must be submitted electronically via our online submissions portal
• Please read the instructions and guidelines below before submitting
• There is no submission fee
• Portal Accounts: If you've never previously submitted an article, you'll need to register for an account. If you're uploading a revised article, you'll need to login
• Permissions: Upon submitting your research, you and any sub-authors give us permission to contact you regarding article permissions, relevant research, and further analysis from our portfolio. You can opt out of these communications at any point via the preference center at the bottom of every email
• Questions?  Contact Mitchell Gang at [email protected]

Journal Contact

The Journal of Wealth Management  Co-Editor : Jean L.P. Brunel  Brunel Associates  26361 Augusta Creek Court,  Bonita Bay  Bonita Springs, FL 34134  Phone: (239) 949 2679 Fax: (239) 495 2138  Email:  [email protected]

Co-Editor :   Paul Bouchey Email: [email protected]

The Journal of Wealth Management (JWM) Content Guidelines

The Journal is designed to be a forum to explore investment issues relevant to individual investors, that is, people who invest as principals, rather than agents, directly or indirectly through companies, trusts, or foundations. Its target audience comprises individual investors, professionals within a family office or foundation, discretionary investment managers, financial advisors, consultants, trust and estate specialists and academics. Articles should be on topics of interest to a broad audience of practitioners and written in a clear and accessible style. While colorful language and examples are encouraged, strict standards for consistency and correctness of theoretical reasoning do apply.

Topics 

The following is a sampling of topics on which submissions are encouraged:

• Behavioral Finance: The way risk is perceived and measured
• Investment Policy Formation: Issues of asset ­allocation and selection in the context of maximizing after-tax wealth
• Investment Policy Execution: The impact of tax awareness on a manager stable comprising different styles and products
• Tax-Aware Investing: Issues of maximization of after-tax wealth and optimization frameworks
• Interdisciplinary Issues: The interplay between investment and estate planning
• Performance Measurement: How after-tax returns are computed, assessed, or measured

Submissions

Any submission should include an introduction which should comprise four elements. First, it should set out the question it is aiming to address. Second, it should explain why the question is important to clients or service providers in the wealth management industry. Third, it should preview whether a solution will be proposed or whether the article only analyzes the key elements of the question. Fourth, it should present a “roadmap” to the article to allow readers to place each of the sections of the paper in the proper perspective.

Abstracts should always start with a sentence outlining how the paper helps  The Journal of Wealth Management  achieve its mission. What is the relevancy of the issue at hand to readers and how will it contribute to a better service to clients of the industry?

A successful article has the following:

• It is free of spelling and grammatical mistakes and follows the formatting guidelines outlined on the PMR website
• The methodology and dataset is reasonable—the paper does something new that contributes to the literature
• The tables and charts are well-designed and tell a story and are not too onerous to decipher
• The more mathematical parts of the paper are relegated to the appendix
• There are links to the literature on the topic
• It is typically 3000-7000 words in length

Article Guidelines

Download the  Article Submission Guidelines  for details on the target audience, length, formatting, referencing, etc.

Code of Ethics

Standards for publication ethics.

Portfolio Management Research (PMR) is committed to abiding by ethical standards and best practices in its publication of articles of the highest quality. As part of this commitment, PMR strives to uphold the standards of the  Committee on Publication Ethics (COPE) . PMR believes that ethical publishing requires the active participation of all parties in the process – authors, peer reviewers, editors, and the publisher – and in the pursuit of this principle, PMR expects compliance with the Standards for Publication Ethics set forth below:

Principles to which Authors Should Adhere

• Present original material that transparently shows the research process and fully reveals the value their research brings to the literature. To ensure originality upon publication, authors should not concurrently submit the same article or research to more than one publication.
• Ensure that any work presented as original is in fact original, which requires adding citations for all or part of any work that originated with other authors, and also adding quotation marks to any text that originated with other authors. The inclusion in an article of plagiarized text is never acceptable.
• Provide in each article sufficient detail, including the raw data used to support the conclusions made in the article, to enable professionals in relevant field to attempt to replicate the article’s findings and conclusions. Results of tests and other research should be presented in the article directly and honestly, free from falsity, fabrication, or other inappropriate manipulation. The inclusion in an article of fraudulent data or knowingly inaccurate statements is never acceptable.
• Conduct research for each article in an ethical and responsible manner that complies with relevant legislation and applicable industry rules and guidelines.
• Provide retractions or corrections to an article promptly upon discovery or notification (and verification) of inaccuracies in the article.
• Include with each article submitted for publication a complete and accurate list of reliable sources for all facts in the article.
• Disclose in each article all actual or perceived conflicts of interest, including as posed by any funding sources for the article.
• Ensure accurate attribution of authorship for each article, with all listed authors having made a significant contribution to the research and/or article, and all individuals who made a significant contribution to the research and/or article properly included as co-authors. Authors should take collective responsibility for all articles they submit and all articles they publish.

Principles to which Peer Reviewers Should Adhere

• Review all articles objectively, without bias or favoritism based upon the origin of the article, the gender, race, national origin, ethnicity, religious or political beliefs, sexual orientation, or age of the authors, or commercial considerations.
• Review articles solely in subject areas in which they have expertise. Peer reviewers should provide the publisher with professional credentials that accurately and truthfully represent their expertise.
• Before consenting to review an article, ensure sufficient time and resource availability to complete a comprehensive assessment of the article in a timely manner.
• Decline to review articles that create a conflict of interest, or the appearance thereof, which can arise from the content of the article, its authors and/or its funders. In the event of uncertainty, peer reviewers should disclose the potential conflict of interest to the publisher and seek advice before proceeding further with a review.
• Provide reviews that are constructive and impartial, devoid of any hostile, inflammatory, libelous, unfair, or unnecessarily derogatory comments.
• During and after the peer review process, maintain the confidentiality of unpublished articles, including by refraining from discussing them with others.
• Refrain from using research or information contained in unpublished articles for any purpose, including for personal gain or for the advantage or disadvantage of any other person or organization.
• Promptly disclose to an article’s editor that the article has not properly cited its sources, or contains errors or material omissions.

Principles to which Editors Should Adhere

• Decide whether to accept or reject articles based solely on their scholarly or journalistic merit, which includes their importance, originality, clarity, and relevance to the journal’s mission and purview.
• Maintain objectivity and balance in the review of all articles, acting without bias or favoritism based on the origin of an article, an author’s gender, race, national origin, ethnicity, religious or political beliefs, sexual orientation, or age, or on the grounds of commercial considerations.
• Adhere to the same rules governing conflict of interest and improper use of unpublished articles as peer reviewers.
• Guide authors and peer reviewers on their responsibilities, and oversee their performance of those responsibilities, ensuring that the authors and peer reviewers understand what is expected of them.
• Adopt editorial policies that promote comprehensive, honest and ethical reporting.
• Seek assurances that research has been in conformity with the rules or guidelines of the applicable regulatory or industry bodies, while recognizing that such approval is not a guarantee of ethical conduct.
• Preserve the anonymity of peer reviewers and the confidentiality of unpublished articles.
• Pursue suspected and alleged misconduct in the research, writing, submission, acceptance and/or rejection, review, and publication process, to protect the integrity of the journal. Editors should not simply reject submissions that raise concerns about potential misconduct; they must make reasonable efforts to ensure a proper investigation is conducted and the issue resolved.
• Upon identifying errors or material omissions in an article, promptly communicate corrections, retractions and/or revisions, as applicable, to the publisher, and in the case of an unpublished article also to the author.

Principles to which the Publisher Should Adhere

• Uphold rigorous standards of publication ethics to maintain the integrity of the journal.
• Provide the resources and institutional support needed to publish accurate, original, and important articles, including, as necessary, specialized legal counsel and review for issues of libel, copyright, and infringement. 
• Ensure appropriate policies are in place to provide guidance, address, and resolve editorial conflicts of interest.
• Cease publication of any content that is not in accordance with these Standards for Publication Ethics.
• Promptly publish corrections, clarifications, revisions, retractions, and apologies, if and when the need arises, and with due prominence.
• Maintain the independence of editorial decisions, which should not be altered or influenced by commercial considerations or business needs.

After Publication               

An authorized, watermarked, author's copy of your article is available by request once the article has been published online. This is for archive/non-commercial purposes only. For more details on that please contact David Rowe, Commercial & Business Development Director on +1 (646) 891-2157 or [email protected] . View our  Permissions and Reprints  requirements.

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Wealth & Asset Management

Read our latest research, articles, and reports on Wealth and Asset Management.

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ADVANCED SEARCH: Discover more content by journal, author or time frame

The Journal of Wealth Management

Journal information.

ISSN: 1534-7524

E-ISSN: 2374-1368

Frequency:  Quarterly

Content available from Vol 1 Issue 1 (1998)

JWM is for senior executives at family offices, multi-family offices, private banks, Registered Investment Advisor firms, and independent financial advisors. The content is must-read for those making decisions about asset allocation, manager selection and performance evaluation on behalf of individuals and families, rather than institutions. Client-facing individuals benefit from a deeper understanding of the many disciplines that intersect in the practice of wealth management, and JWM gives them the tools to approach tough conversations with confidence. Other service providers, such as tax planners, estate lawyers, and insurance agents whose roles fit within the multi-disciplinary framework of wealth management and advice, also will benefit from reading the JWM.

ABOUT THE JOURNAL

The Journal of Wealth Management (JWM) is the only peer-reviewed journal devoted exclusively to original research and practical guidance for high-net-worth investors and family offices. The JWM addresses the investment concerns of wealthy families and keeps practitioners abreast of the latest investment strategies in private asset management. Themes of the JWM include generating high after-tax returns while mitigating volatility, balancing tax and risk concerns, optimizing asset allocation and money management selection, determining hedge fund allocation and employing effective performance measurement techniques, and using estate planning to enhance cross-generational wealth concerns. The JWM offers a unique and in-depth view into the world of wealth management.

The mission of  The Journal of Wealth Management  (JWM) is to provide thought-provoking analysis and practical wealth management techniques to help advisors and the individuals and families they serve be responsible stewards of wealth for the benefit of the world and future generations. Carrying out this mission involves two discrete areas of focus. The first relates to the multidisciplinary nature of the endeavor. Managing individual wealth requires one to deal with a wide range of professional disciplines covering the many facets of the task: behavioral finance, traditional finance, income and transfer rules, taxation issues, philanthropic matters, risk management, family education, globalization, and a number of others. Several of these individual issues collide with one another, and the successful wealth management effort will involve dealing with these conflicts. The second area of focus requires the need to deal with a wide variety of environmental, social and governance issues that need to be studied and analyzed thoroughly and explained clearly and concisely to non-specialists or non-experts. Families, particularly multi-generational families, are indeed bombarded by news and commentaries which often suggest courses of action which may not accrue to the family’s benefit in the end. Understanding the underlying issues will help them ask the right questions.

ARTICLE SUBMISSIONS

Any submission should include an introduction which should comprise four elements. First, it should set out the question it is aiming to address. Second, it should explain why the question is important to clients of or service providers to the wealth management industry. Third, it should preview whether a solution will be proposed or whether the article only analyzes the key elements of the question. Fourth, it should present a “roadmap” to the article to allow readers to place each of the sections of the paper in the proper perspective.  Abstracts should always start with a sentence outlining how the paper helps The Journal of Wealth Management achieve its mission. What is the relevancy of the issue at hand to readers and how will it contribute to a better service to clients of the industry? A successful article has the following: 1) It is free of spelling and grammatical mistakes and follows the formatting guidelines outlined on the PMR website. 2) The methodology and dataset is reasonable—the paper does something new that contributes to the literature. 3) The tables and charts are well designed and tell a story and are not too onerous to decipher. 4) The more mathematical parts of the paper are relegated to the appendix. 5) There are links to the literature on the topic. 6) It is typically 3000-7000 words in length.

In the late 1990s, a surge in high net-worth individuals lead to an increase in private investment needs. At the time, the majority of investing research was written about institutional portfolio management. In order to establish a platform for research and to meet the growing need for information on taxable portfolio management,  The Journal of Wealth Management  was launched in the spring of 1998 as The Journal of Private Portfolio Management , with Jean Brunel as the Founding Editor. Read the inaugural Editor's letter of the Journal here . Later, the Journal was renamed The Journal of Wealth Management as it is today. 

Australian Business Deans Council, Google Scholar, Jouroscope, Scimago Journal & Country Rank, Scopus

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The Top 5 Wealth Management Research Reports (Your 2022 Summer Reading List)

 (Updated: July 2022)

Canada’s workforce is in the midst of a much-needed and well-deserved vacation season - and nothing says vacation like a good read with serene scenery. 

Since advisors lean heavily on market trends and data that can help them guide their clients and their investments, they need access to reliable research reports. And with so many to choose from and so little time for relaxing they have to focus on the reports that will give them the most value. We have selected and summarized the key points of each one of these reports so you don't have to. Read on to learn more about the state of the wealth management industry in 2022.

Wealth and Asset Management 4.0

Date Released: 

November 2021

Description: 

With the survey results coming from 500 investment providers and 2,325 investors across three regions and 15 countries, this report reveals six mega-trends that will shape the course of the industry in 2022: (1) a shift to digital interaction, (2) a growing desire to invest with purpose, (3) a wider demand for democratized products and services, (4) a requirement for higher integrity and standards, (5) an expectation for lower fees and pricing transparency, and (6) a greater willingness to switch providers if their needs are unmet. 

Selected Highlights:

• As financial service firms adopt new technologies, they see sharp improvements across different key performance indicators. “Digital innovation boosts productivity and AUM, which translates into higher revenue and market share, and eventually greater shareholder value.”
• In the next two years, expect a growing impact of ESG products and services in the industry. It is reported that 34% of investors are going to be seeking advice around ESG investing.
• It’s a myth that millennials want to do everything digitally. In fact, 34% of millennials are meeting with wealth providers in person and 46%, nearly half, will prefer to meet face-to-face in the future.
• According to the report, the best way to build relationships with investors is to act in their best interest, be available when needed and stay in touch during market disruptions. 

How to Access This Report:

https://thoughtlabgroup.com/wp-content/uploads/2021/11/Wealth-4.0_eBook.pdf

‍ Optimizing the Wealth Consumer Engagement Journey

Date Released:

As clients’ digital experiences are drastically evolving, new standards are established requiring a higher level of relevance, personalization and engagement. This report explores how wealth managers can meet these standards and use them to improve the relationships they have with their clients. Deloitte maps the customer journey in 4 steps, beginning with Entice, Buy, Serve, and ending with Engage. 

• Nearly half of investors in the survey said that acting in their best interest was the best way to build a relationship and be there for them. This is critical, especially during current market disruptions (and this came up in the previous report!). 
• “As digital expectations continue to grow, prospective clients are expecting the same experience from advisors that they receive from adjacent tech providers […] Nuanced processes can be automated (e.g., computerized data collection), which allows advisors to focus their efforts on advice rather than manual tasks.”
• Creating a seamless and frictionless onboarding experience for prospects is needed to create a strong first impression and reduce abandonment. Advisors should be focused on creating a rewarding client experience and demonstrating how easy it is to work with them.  

How to Access This Publication:

https://www2.deloitte.com/content/dam/Deloitte/ca/Documents/consumer-industrial-products/ca-consumer-engagement-journery-cta-aoda-en.pdf?icid=cej-en

Wealth Management Top Trends 2022

As part of Capgemini’s expansive catalogue of research across various industries, this annual report focuses on the top trends happening in wealth management. This year's trends included measuring increasing ESG standards when diversifying portfolios, and how to strengthen “client stickiness” by personalizing customer experience services. 

• Cybersecurity and regulatory compliance are becoming a top priority as companies adopt technology far and wide in the wealth management sector. 
• It’s critical to prepare for the biggest intergenerational wealth transfer in history - from Baby Boomers all the way to Gen-Z - and it’s up to wealth advisors to bridge the knowledge gap.
• As the number of ultra-high-net-worth individuals rises globally, “the need for complex and tailored financial advice is also ramping up”, promising the “bespoke advisory model” of family offices. 
• Even when firms are accelerating their digital transformation, it’s crucial to maintain human intervention alongside technological efficiencies. 
• The greatest wealth transfer comes with growing concerns related to ESG. Investment choices are likely to gravitate more towards this sector. 

https://www.capgemini.com/wp-content/uploads/2022/03/Top-Trends-in-Wealth-Management-2022-2.pdf

2022 Investment Management Outlook: Positioning for a Greater Impact

With responses from 400 senior investment management executives from North America, Europe, and Asia-Pacific, this report narrowed in on how their organizations have adapted to the varied impacts of the pandemic. Impacts have affected their workforce as well as their investment priorities and anticipated structural changes in the year 2022. 

• Firms that can leverage technology to improve clients’ engagement and minimize friction are likely to be more successful.
• Digital transformation investment has paid off. An overwhelming majority of wealth management firms reported that AI (Artificial Intelligence) helped them generate alpha in the pre-investment phase. 
• There’s a significant regional difference in the implementation of digital transformation and modernization of governance mechanisms. Overall, European firms are leading in terms of modernization, followed by the Asia Pacific, and then North America. 
• The workplace talent model will continue to shift in 2022, and agility in talent management is critical to maximize benefits and deliver optimal results. 

https://www2.deloitte.com/content/dam/insights/articles/us164665_investment-management-outlook/US164665_Investment-management-outlook.pdf  

2022 Long-Term Capital Market Assumptions: Time Tested Projections to Build Stronger Portfolios

JP Morgan Asset Management

November 2021 

This is the 26th year of the J.P. Morgan Asset Management’s Long-Term Capital Market Assumptions publication. Reporting on capital market estimates for hundreds of asset classes and 17 base currencies, investors and advisors rely on its information to inform portfolios and asset locations.

• Two years after the pandemic, economic scars are fading as recovery gathers global momentum; however, policy choices will leave an enduring impact.
• ESG investing is a global trend “driven by investors trying to increase risk-adjusted returns (‘doing well’) and support sustainable outcomes (‘doing good’).” 
• According to the report, it is a risk for investors to ignore emerging markets, like China, when diversifying their portfolios. Despite the lack of exposure to Chinese assets, long-term investors should dig deeper into this investing category as it has the potential to offer a return premium compared to the developed market.

https://am.jpmorgan.com/content/dam/jpm-am-aem/global/en/insights/portfolio-insights/ltcma/ltcma-full-report.pdf

2022 BONUS MATERIAL

Analytics transformation in wealth management.

McKinsey & Company

January 2022

Description:

With the development of digital customer experience, the wealth management industry needs to rapidly catch up in order to attract and retain clients. This article showcases the benefits of deploying advanced analytics as well as some guidelines when it comes to digital transformation. 

• The one-size-fits-all service model is no longer suitable now that clients are more familiar with needs-based personalization and customization. 
• Data shows that relationship managers spend 60-70% of their time on non-advisory activities, aka “non-revenue-generating activities.” This is costly, also time-consuming and needs to change as clients ask for more engagement and additional options for remote service.
• The three areas that will benefit greatly from data and analytics are 1) acquisition and onboarding, 2) engagement and deepening of client relationships, and 3) servicing and retention.

How to Access This Article:  

https://www.mckinsey.com/industries/financial-services/our-insights/analytics-transformation-in-wealth-management

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There are a ton of expert resources available for wealth professionals. With recession on everyone’s mind, it’s no surprise that many reports are focused on making wealth managers even more effective with technology. As a result, this year’s research reports may be even more valuable to help advisors make sense of recent market trends that are anything but status quo. Yet, not every report will speak to every advisor. Choose reading that’s most valuable to you, in your limited time off. We highly recommend printing out any reports just this once (use recycled paper!), so you can be screen-free on your summer vacation, after too many Zoom calls. Happy reading, and from our team to yours - enjoy your vacation season!

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Technology and Efficiency in Wealth Management

In Pursuit of Efficiency:

Working with technology to de-paper wealth management processes.

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Wealth Management: An Overview

2009, WEALTH MANAGEMENT, Mahamaya Publishing House, New Delhi

Wealth management is both an art and science. It involves understanding the client very well. Effective wealth management should be broad – in the sense that it takes into account all aspects of a client’s financial life – and deep – through an awareness of a client’s values and priorities. Factors like increased volatility and uncertainty, the growing number and complexity of financial products available, and increased personal responsibility for retirement planning have made many previously confident investors realize that they do, in fact, need advice. In recent years, the proliferation of wealth management products and innovative financial services has contributed to the steady growth of wealth management as an attractive and lucrative service sector within the financial industry around the world.

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Technological developments and changing customer preferences are placing demands upon the classical way that private banking clients and wealth management are advised by banks. This article analyzes how the traditional advisory model, whereby the client adviser and the customer interact in the form of a personal dialogue, could be altered by means of virtual advisory models. Based on survey results by wealth management clients in Switzerland, Germany, and Austria, current preferences are analyzed in terms of advice characteristics, and future potential as well as obstacles to the virtual consultation are discussed. A hybrid advisory model offered by established wealth managers appears to be the most promising advisory model for the main customer segments in wealth management.

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How America Saves 2024

The current state of defined contribution plans in america, how does your plan stack up, industry participation rates , industry benchmark reports, key stats you should know .

• All investing is subject to risk, including the possible loss of the money you invest.

Disaster Management

Climate change is making natural disasters more frequent, yet little is known about the capacity of firms to withstand such disasters and adapt to their increased frequency. We examine this issue using a the latest wave of the World Management Survey (WMS) that includes new questions on firms’ climate change perceptions and adaptation behavior. Combining this with geocoded data on natural disasters and previous WMS waves, we create a panel spanning 8,000 firms across 33 countries and three decades that shows exposure to disasters decreases growth inputs, outputs and firm survival. More importantly, firms with structured management practices are more resilient, suffering much smaller drops in jobs and capital. To understand the mechanisms behind this resilience, we use the new WMS climate questions to show better managed firms have more accurate perceptions of climate-related risks to their businesses. Such firms are also more likely to have implemented measures to adapt to climate change both overall and in response to their perceived climate risk. Other aspects of firm organisation, such as decentralisation, also help protect against disasters, but their adaptation behaviour is not well-targeted. These results show that improving management is one way to help protect economies from climate change shocks.

We would like to thank seminar participants in Stanford and LSE for helpful comments. Generous funding has come from ESRC/UKRI through the Programme On Innovation and Diffusion. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

MARC RIS BibTeΧ

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Generational Divide in Investing, Wealth Management Strategies Revealed in New Research Study

June 22, 2024 @ 10:27 am By Omar Faridi

High-net-worth individuals believe U.S. stocks offer the best opportunities for growing assets, but that conviction is less held by younger investors finds the 2024 Bank of America ( NYSE: BAC ) Private Bank Study of Wealthy Americans .

Millennials and Gen Z are increasingly looking “beyond the traditional stock and bond markets to build their wealth and are driving demand for everything from investment real estate and private equity to digital assets and gold.”

Katy Knox , president of Bank of America Private Bank, said:

“We’re living through a period of great social, economic and technological change alongside the greatest generational transfer of wealth in history. Our study shows that wealthy Americans are focused on diversification, long-term goals and making a lasting impact with their wealth.”

Seventy-two percent of younger investors (ages 21-43) believe it is “no longer possible to achieve above average investment returns by investing solely in traditional stocks and bonds, compared to only 28% of investors over the age of 44 that hold the same view.”

The study found that among younger high-net-worth investors:

• 47% of their portfolios are in stocks and bonds, far lower than investors over the age of 44 (74%).
• 17% of their investment portfolios are allocated to alternatives, compared to 5% allocated by older investors. Most (93%) say they plan to allocate more to alternatives in the next few years.
• Nearly half (49%) own cryptocurrencies and another 38% are interested in owning it.
• They rank cryptocurrency among the top opportunity areas for growth, second only to real estate investments.
• 45% own physical gold as an asset and another 45% are interested in owning it. Overall,
• 41% of the wealthy own (18%) or are interested in buying (23%) physical gold.

Passing on Wealth: Gaps in planning for generational transfer of wealth

Despite the importance placed on sharing and sustaining family money, “gaps in planning, communication and guidance could derail these well-intended goals.”

One in five respondents report having “experienced strain over an inheritance, including 54% of younger respondents.”

Half (52%) of wealthy Americans do “not have the three basic elements of an estate plan, consisting of a will, advanced healthcare directive and durable power of attorney.”

Nearly half (48%) of respondents have not considered hard assets, “including real estate, art and collectibles and other tangible assets, in their estate plans.”

56% of respondents have established a trust; however, only 27% say “they understand trusts and their benefits very well.”

69% of parents of adult children have talked “with their children about family wealth plans.”

They start those conversations only after their children “have reached the age of 31, on average.”

Giving back is a near-universal trait among the wealthy, inspired mostly “by a sense of responsibility (52%) and a desire to make a lasting positive impact (40%).”

However, where they give and other passions, such “as owning art and collectibles, varies greatly by generation.”

91% of the wealthy are “ardent supporters of philanthropy.”

Younger donors are nearly two times “more likely to support homelessness (41%), social justice (33%) and the environment/climate change (32%) compared to older donors (21%, 18% and 17%, respectively).”

40% of the wealthy overall either own or are “interested in an art collection, including 83% of millennials and Gen Z.”

65% of study respondents, including 94% of those “under the age of 44, are interested in collectibles.”

Millennials and Gen Z are at least two times “more likely than older generations to be collectors of watches (46%), wine or spirits (36%), rare or classic cars (32%), sneakers (30%) and antiques (30%).”

In addition to influencing the next generation, the “Great Wealth Transfer” will also contribute to women controlling more wealth than ever before, according to Bank of America Institute.

Over the next decade, $30 trillion in U.S. wealth is expected to be “transferred to women influencing financial decision-making, philanthropic giving and more.”

Crowdfund Insider is the leading news website covering the emerging global industry of disruptive finance including investment crowdfunding, Blockchain, online lending, and other forms of Fintech.

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Press Releases

• Record-Setting 218 J.P. Morgan Wealth Management Advisors Make Forbes’ Best-in-State Wealth Advisors List

Record-Setting 218 J.P. Morgan Wealth Management Advisors Make Forbes’ Best-in-State Wealth Advisors List

Sixteen J.P. Morgan advisors make the selective America’s Top Wealth Advisors list

New York, NY

April 03, 2024

New York, NY, April 3, 2024 – Over 200 J.P. Morgan Wealth Management  advisors were recognized on  Forbes’  2024 Best-in-State Wealth Advisors ranking. That’s more than double last year’s record.

“Our advisors continue raising the bar,” said Phil Sieg, head of J.P. Morgan Advisors. “I’m grateful to work alongside these industry leaders and see them recognized for growing their business and putting their clients first every day.”

“Whether this is their first time being recognized or they’ve previously earned this achievement, these individuals consistently deliver exceptional service,” said Eric Tepper, head of the branch-based network at J.P. Morgan Wealth Management. “I’m incredibly proud of our advisors across the country who go above and beyond to help our clients achieve their financial goals.”

In total, 218 J.P. Morgan advisors made the Forbes  2024 Best-in-State Wealth Advisors list. Sixteen of these advisors were also named America’s Top Wealth Advisors for ranking in the top 250 of financial advisors in the United States. Thirteen are being recognized in the top 250 by  Forbes for at least a second year in a row. 

• Colleen O’Callaghan, Wealth Partner – New York, NY 
• Sal Tiano, Wealth Partner – Jupiter, FL
• Phil Scott, Wealth Partner – Bellevue, WA
• Elaine Meyers, Wealth Partner – San Francisco, CA
• Matthew Babrick, Wealth Partner – Los Angeles, CA
• Glenn Degenaars, Wealth Partner – New York, NY
• Brett Langbert, Wealth Partner – Palm Beach Gardens, FL
• Jason Babb, Wealth Partner – New York, NY
• Greg Onken, Wealth Partner – San Francisco, CA
• Andrew Vahab, Wealth Partner – Boca Raton, FL
• Rick Gordan, Wealth Partner – San Francisco, CA
• Hugh Beecher, Wealth Partner – San Francisco, CA
• Jordan Mayer, Wealth Partner – New York, NY
• Jay Canell, Wealth Partner – New York, NY
• Neil Canell, Wealth Partner – New York, NY
• Catherine Evans, Wealth Partner – San Francisco, CA

Forbes  recognized the following advisors as Best-in-State Wealth Advisors:

• Kevin Guinan, Private Client Advisor – Scottsdale
• Leslie Little, Private Client Advisor – Scottsdale
• Jaime Lutz, Private Client Advisor – Scottsdale
• Michael Lyons, Private Client Advisor – Sun City
• Michael Ridley, Private Client Advisor – Scottsdale
• Tequilla Swan, Private Client Advisor – Scottsdale
• Christian Ach, Wealth Advisor – San Francisco
• John Barnes, Wealth Partner – Los Angeles
• Brett Berry, Wealth Partner – Menlo Park
• Dan Bessey, Wealth Partner – Los Angeles
• Andrea Borgioli, Wealth Partner – Santa Barbara
• Brian Brocious, Wealth Partner – San Francisco
• Barbara Bruser, Wealth Partner – Los Angeles
• Christopher Chase, Wealth Partner – San Francisco
• Brian Chinn, Wealth Partner – San Francisco
• Sanah Chung, Wealth Partner – Los Angeles
• Bradley Cooperman, Private Client Advisor – Del Mar
• Drew Corradini, Wealth Partner – San Francisco
• Drew Curto, Wealth Advisor – Los Angeles
• Anthony Custodio, Wealth Partner – Palo Alto
• Tom Egan, Wealth Partner – San Francisco
• Douglas Feliciano, Wealth Partner – Walnut Creek
• Doug Fiek, Wealth Partner – San Francisco
• Maureen Flanagan, Wealth Partner – Newport Beach
• James Fletcher, Wealth Partner – Newport Beach
• Jerrad Forman, Private Client Advisor – Santa Clara
• Matthew Fournier, Wealth Partner – Los Angeles
• Vito Gioiello, Wealth Partner – Santa Barbara
• Tracey Gluck, Wealth Partner – Los Angeles
• Ami Ibarra, Private Client Advisor – Dublin
• Kyle Kazmer, Wealth Partner – Los Angeles
• Christopher Kelly, Private Client Advisor – Newport Beach
• Joshua Kuo, Private Client Advisor – Santa Clara
• Joseph P. Lally, Wealth Partner – Los Angeles
• Trung Lam, Private Client Advisor – Santa Clara
• Jeff Loventhal, Private Client Advisor – Oakland
• Kevin Lynn, Wealth Partner – Newport Beach
• John McNamee, Wealth Partner – Los Angeles
• Ronald Munman, Wealth Partner – Los Angeles
• Aaron Nichols, Wealth Partner – Palo Alto
• Michelle Piper, Private Client Advisor – Dublin
• Devon Porpora, Wealth Partner – San Francisco
• Erik Ralston, Wealth Partner – San Francisco
• Theresa Rutledge, Wealth Partner – Palo Alto
• Crystal Shi, Private Client Advisor – Santa Clara
• Steven Soja, Wealth Partner – San Francisco
• Justin Tipp, Wealth Partner – San Diego
• Gregory Webster, Wealth Partner – Los Angeles
• Keith Webster, Wealth Partner – Los Angeles
• Daniel White, Wealth Partner – Los Angeles
• Sergio Akselrad, Wealth Partner – Miami
• Christopher Andrews, Wealth Partner – Palm Beach Gardens
• Louise Armour, Wealth Partner – Palm Beach Gardens
• Robert Burns, Wealth Partner – Palm Beach Gardens
• Anthony Caravetta, Private Client Advisor – Miami
• Edward Collins, Private Client Advisor – Orlando
• Jay Couturier, Private Client Advisor – Merritt Island
• Mark Donohue, Wealth Partner – Palm Beach Gardens
• Ethan Emma, Wealth Partner – Palm Beach Gardens
• Phillip Gilbert, Wealth Partner – Jupiter
• Justin Girard, Wealth Advisor – Palm Beach Gardens
• Devin Hill, Wealth Advisor – Miami
• Louie Kontos, Private Client Advisor – Boca Raton
• Neil Koricanac, Wealth Advisor – Palm Beach
• David Li, Wealth Partner – Palm Beach Gardens
• Diana Menaker, Private Client Advisor – Miami
• Maureen Raihle, Wealth Partner – Palm Beach
• Kurt Sylvia, Wealth Partner – Palm Beach Gardens
• John Ver Bockel, Wealth Partner – Palm Beach
• Andrew Firstman, Wealth Partner – Atlanta
• Brian Jenkins, Wealth Partner – Atlanta
• Mike Podkulski, Wealth Partner – Atlanta
• Chris Rezek Sr., Wealth Partner – Atlanta
• Michael Brady, Private Client Advisor – Lake Forest
• Eric Eugene, Private Client Advisor – Glenview
• Kate Evans, Private Client Advisor – Wheaton
• Alan Feutz, Private Client Advisor – Arlington Heights
• Joel Grachan, Private Client Advisor – Chicago
• Mazin Habib, Private Client Advisor – Park Ridge
• Shawn Marks, Private Client Advisor – Park Ridge
• Andrew Miarka, Private Client Advisor – Glenview
• Joshua Miller, Wealth Partner – Chicago
• Jeff Myers, Private Client Advisor – Winnetka
• Brandon Perry, Private Client Advisor – Saint Charles
• Benjamin Pogofsky, Wealth Advisor – Chicago
• Jacob Pottschmidt, Wealth Advisor – Chicago
• Daniel Resnick, Wealth Partner – Chicago
• Kenneth Scott, Private Client Advisor – Chicago
• Mark Sessa, Private Client Advisor – Arlington Heights
• Jim Simpson, Private Client Advisor – Wheaton
• Andrew Stevenson, Private Client Advisor – Park Ridge
• Jason Appe, Private Client Advisor – Mandeville

Massachusetts

• Frank Botta, Wealth Partner – Boston
• Patrick Corbett, Wealth Partner – Boston
• Ross Dolgoff, Wealth Advisor – Boston
• Jamie Fagan, Wealth Partner – Boston
• Bill Graham, Wealth Partner – Boston
• Sam Hodgson, Wealth Partner – Boston
• Bruce Ledoux, Wealth Partner – Boston
• Robert Mason, Wealth Partner – Boston
• John McPhee, Wealth Partner – Boston
• Neil Mehra, Wealth Advisor – Boston
• James Minchello, Wealth Partner – Boston
• Derek Mohamed, Wealth Partner – Wellesley Hills
• Brian Nagle, Wealth Partner – Boston
• Peter Noonan, Wealth Partner – Boston
• Max Peckler, Wealth Partner – Boston
• James Taylor, Wealth Partner – Boston
• Jeffrey Titus, Wealth Partner – Boston
• Brian Turner, Wealth Advisor – Boston
• Jonathan Saffiedine, Private Client Advisor – Plymouth
• Jeff Smaka, Private Client Advisor – Troy
• Murali Balasubramanian, Wealth Partner – Morristown
• Daniel Roh, Private Client Advisor – Paramus
• Michael Taggart, Wealth Partner – Morristown
• Jon Bull, Wealth Partner – Santa Fe
• Patrick Amato, Wealth Partner – New York
• Michael Azayev, Private Client Advisor – Brooklyn
• Abe Borenstein, Wealth Partner – New York
• Michael Briese, Private Client Advisor – New York
• Steve Condos, Wealth Partner – New York
• Robert DeMarco, Private Client Advisor – New York
• James Dempsey, Wealth Partner – Garden City
• Osher Douek, Private Client Advisor – Brooklyn
• George Fuchs, Wealth Partner – New York
• Stephen Gold, Wealth Partner – West Harrison
• Steven Grill, Wealth Partner – New York
• Adam Grossman, Wealth Partner – New York
• Bill Grous, Wealth Partner – New York
• David Guthrie, Wealth Partner – New York
• Brian Hafley, Private Client Advisor – New York
• Timothy Hanson, Private Client Advisor – West Harrison
• Adam Hirsch, Wealth Partner – New York
• Paul Ippolito, Private Client Advisor – West Harrison
• Kit Jackson, Wealth Partner – New York
• Ches Kasow, Private Client Advisor – Brooklyn
• Russell Loesch, Private Client Advisor – New York
• Radhika Mehta, Wealth Partner – New York
• Madelyn Miller, Wealth Partner – New York
• Joseph Minaudo, Private Client Advisor – New York
• John Mizrahi, Private Client Advisor – New York
• David Munoz, Wealth Partner – West Harrison
• Natalya Muravchik, Wealth Advisor – West Harrison
• Gary Ottomanelli, Private Client Advisor – New York
• Arthur Pensato, Wealth Partner – New York
• Thomas Pescherine, Wealth Advisor – New York
• Ray Powers, Wealth Partner – New York
• Charles Radcliffe, Wealth Advisor – New York
• John Rasulo, Wealth Partner – New York
• Steve Roitman, Private Client Advisor – Brooklyn
• David Schulman, Wealth Partner – New York
• Christopher Scibilia, Private Client Advisor – New York
• Hiral Shah, Private Client Advisor – West Harrison
• Peter Sikora, Private Client Advisor – West Harrison
• John Slattery, Wealth Partner – West Harrison
• William Slayne, Wealth Partner – New York
• Stephen Stabile, Wealth Partner – New York
• David Starker, Wealth Partner – New York
• Brian Terner, Private Client Advisor – New York
• James Tilley, Private Client Advisor – New York
• Chris VanVynck, Private Client Advisor – New York
• James Venetos, Wealth Partner – New York
• Tad Waldbauer, Wealth Partner – New York
• Liz Weikes, Wealth Partner – New York
• Ed Wentzheimer, Wealth Partner – New York
• Christopher Wimpfheimer, Wealth Partner – New York
• Igor Yurovskiy, Private Client Advisor – Rochester
• Mote Zawalunow, Private Client Advisor – New York
• Brian Roloson, Private Client Advisor – Columbus
• Steven Stofflet, Private Client Advisor – Columbus
• Cherie Turnwald, Private Client Advisor – Lima
• Rebecca DeCesaro, Wealth Partner – Portland
• Jeffrey Greene, Wealth Partner – Portland
• Ryan Jones, Wealth Partner – Portland
• Clarke Leaverton, Wealth Partner – Portland
• Lucas Newman, Wealth Partner – Portland
• Spencer Strahan, Wealth Advisor – Portland
• Jeffrey Yandle, Wealth Partner – Portland
• Faisal Afzaal, Private Client Advisor – Sugar Land
• Sherre Barber, Private Client Advisor – Dallas
• Andrew Bishara, Private Client Advisor – Sugar Land
• Justin Burns, Wealth Partner – Dallas
• Gus Fernandez, Private Client Advisor – Dallas
• Lisa Forsythe, Private Client Advisor – Houston
• Bill Harris, Private Client Advisor – Sugar Land
• Ron Hinson, Private Client Advisor – Houston
• Jason Holland, Wealth Partner – Dallas
• Tito Medina, Private Client Advisor – Fort Worth
• Kevin Pasha, Private Client Advisor – Houston
• Max Pearl, Wealth Partner – Dallas
• Zeenath Selvakumar, Private Client Advisor – Houston
• Christopher Sheets, Wealth Partner – Houston
• Ryan Stewart, Wealth Partner – Dallas
• Clint Swinney, Private Client Advisor – Fort Worth
• Evan Troop, Wealth Partner – Dallas
• Emil Anderson, Private Client Advisor – Seattle
• Barney Cohen, Wealth Partner – Seattle
• Michael Hershey, Wealth Partner – Bellevue

Washington, D.C.

• Rick Schultz, Wealth Partner – Washington, D.C.
• Eric Teichberg, Wealth Partner – Washington, D.C. 
• James Hayes, Private Client Advisor – Green Bay
• Kevin Lenci, Private Client Advisor – Oak Creek

J.P. Morgan Wealth Management continues to invest heavily in technology, top talent and resources to offer exceptional support for its advisors and clients. These initiatives include its concierge service for J.P. Morgan Advisors which offers personal, on-demand assistance to help advisors better serve clients, and the Client Relationship Succession Program which provides advisors a unique opportunity to grow their business while helping tenured advisors build a path toward retirement.

JPMorgan Chase & Co. acquired First Republic last year, folding its wealth management business under J.P. Morgan Wealth Management.

The ranking was compiled by SHOOK Research. The selection criteria includes interviews, industry experience, compliance records, revenue produced and assets under management.

To see the list of  Forbes’  America’s Top Wealth Advisors and information on criteria, visit:  https://www.forbes.com/lists/top-wealth-advisors/?sh=6dd35c051c7c

To see the full list of  Forbes’  Best-in-State Wealth Advisors and information on criteria, visit:  https://www.forbes.com/lists/best-in-state-wealth-advisors/

About J.P. Morgan Wealth Management

J.P. Morgan Wealth Management is the U.S. wealth management business of JPMorgan Chase & Co., a leading global financial services firm with assets of $3.9 trillion and operations worldwide. J.P. Morgan Wealth Management has ~5,400 advisors and $900+ billion of assets under supervision. Clients can choose how and where they want to invest. They can do it digitally, remotely, or in person by meeting with an advisor in one of our more than 4,700 Chase branches throughout the U.S., or in one of our offices. For more information, go to   www.jpmorgan.com/wealth   and follow  J.P. Morgan Wealth Management   on LinkedIn.

Forbes/SHOOK Top Wealth Advisors (04/03/24, data as of 06/30/23); (04/04/23, data as of 6/30/22). Ratings may not guarantee future success or results. Fee paid to rating provider for advertisement materials after rating announced. Methodology here:  jpmorgan.com/award-disclosures

Forbes/SHOOK Top Wealth Advisors Best-In State (04/03/24, data as of 06/30/23); (04/04/23, data as of 6/30/22). Ratings may not guarantee future success or results. Fee paid to rating provider for advertisement materials after rating announced. Methodology here:  jpmorgan.com/award-disclosures 

J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through  J.P. Morgan Securities LLC  (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC. Certain advisory products may be offered through J.P. Morgan Private Wealth Advisors LLC (JPMPWA), a registered investment adviser. Trust and Fiduciary services including custody are offered through JPMorgan Chase Bank, N.A (JPMCB) and affiliated trust companies. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. JPMS, CIA, JPMPWA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co.

© 2024 JPMorgan Chase & Co.

Media Contact Jami Tanner [email protected]

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Us politics and policies scenario analysis.

ElectionWatch 2024

Biden with a Democratic Senate and House Blue sweep

A Democratic sweep would likely be the most negative outcome for equity markets, primarily due to a higher probability of higher corporate tax rates. The expiration of some 2017 personal tax cuts could also be a small drag on consumer spending. Regulatory pressures could increase in some industries, but this would generally be more of an extension of the status quo.

Republican Senate and Democratic House Biden with split Congress

If Biden wins but Congress is split, we would expect much more limited policy changes, and therefore a more muted impact on financial markets. A Biden administration would be obliged to rely on executive action and regulatory oversight to a great degree.

Trump with a Republican Senate and House Red sweep

An extension of the 2017 tax cuts would be likely with a possible further reduction in corporate tax rates. Funding for these initiatives might come from a reduction in support for green energy provisions of the Inflation Reduction Act. Equity markets would likely cheer lower taxes and lighter regulation, but this could be partially offset by concerns about the costs and inflation impacts of higher tariffs and trade wars. Interest rates and the dollar would likely rise initially. Financials stand out as key potential beneficiaries in this scenario due to lighter regulation.

Republican Senate and Democratic House Trump with split Congress

With major fiscal policy changes blocked by a split Congress, higher tariffs and lighter regulation would likely be the hallmarks of this election outcome. Overall, these two forces would have a mixed impact on equity markets. The dollar and interest rates would likely rise modestly. Financials would likely be key beneficiaries of lighter regulation.

There are four other possible outcomes, based on the results of presidential, Senate, and House elections. For now, we view them as unlikely and discount them for the purposes of this exercise.

Detailed scenario analysis

Marginal tax rate reverts to higher level for top brackets

Capital gains taxes increase for higher earners 

Estate tax threshold reverts to lower level (higher estate tax)

SALT tax deduction limitation rises

Corporate tax increase contemplated

Greater regulatory oversight persists and could increase in some areas

Strict scrutiny of mergers and acquisitions for antitrust violations

Inflation Reduction Act (IRA) spending plans and incentives remain in place

Existing tariffs remain in place, but foreign policy emphasizes strategic alliances and sanctions

Biden with split Congress

No change to capital gains taxation

Estate tax compromise—threshold reduced but higher than full reversion

SALT tax deduction limitation rises modestly

No change to corporate tax rates

IRA spending plans and incentives remain in place

Lower marginal tax rates extended or made permanent

Higher estate tax threshold extended or made permanent (lower estate tax)

Corporate tax decrease contemplated

Regulatory oversight decreases, especially for energy and financials

Reduced scrunty of mergers and acquisitions; M&A activity increases

Partial rollback of specific IRA incentives possible

New tariffs implemented on selected imports. Universal tariffs possible. China targeted for higher tariffs

Trump with split Congress

IRA incentives and spending plans remain in place

Overall economic impact likely to be smaller than in Biden's first term. Taxes on higher-income households would rise. Modest negative for economic growth. Disinflationary impact, leading to somewhat larger Fed rate cuts. Slightly negative for the USD.

Smaller impact than the blue sweep scenario. Taxes on higher-income households could rise, but by less than in a blue sweep scenario. No corporate tax hikes, but more stringent regulatory oversight. Relatively neutral for growth, inflation, Fed policy, and the USD.

Overall economic impact should be positive, but inflationary pressure increases, resulting in fewer Fed rate cuts. Positive for the USD at least initially, but higher deficits and trade tensions could later undermine the dollar.

Overall economic impact should be positive but less than in red sweep scenario. Tariffs still add to inflationary pressure, making it more difficult for Fed to cut rates aggressively. Positive for the USD at least initially, but higher deficits and trade tensions could later undermine the dollar.

Interest rates decline, led by the front end of the yield curve. The curve normalizes and returns to being upward-sloping given lower inflation and growth and larger Fed cuts.

Range-bound interest rates. Move in interest rates will be due to the lagged impact of Fed policy during 2022–23.

Interest rates rise led by the back end of the yield curve due to inflationary pressures. Increased Treasury supply due to rising deficit also pushes longer-end yields higher. Heightened interest rate volatility due to geopolitical concerns ensue.

Slightly higher interest rates in line with the stronger USD. Volatility rises due to geopolitical risk and ambiguity over the Fed reaction function.

Slightly negative impact on equity market due to possible increase in corporate tax rates and potential for greater regulatory oversight. Positive for select companies within industrials, materials, and utilities focused on renewables and energy efficiency. Worst case scenario for financial services and somewhat of a negative for the fossil fuel energy industry.

Similar to the status quo, so likely minimal impact on equity market. Positive for select companies within industrials, materials, and utilities focused on renewables and energy efficiency. Neutral to negative for the fossil fuel industry and the negative regulatory overhang on financial services would continue.

Slightly positive equity market impact. Less regulation, potential for more M&A, and possibly lower corporate tax rates would all be supportive, but a stronger USD, higher tariffs, and inflationary pressures would be headwinds. Most positive scenario for the fossil fuel energy and financial services industries. The consumer discretionary, industrials, and information technology sectors would most likely be negatively impacted by higher tariffs.

Mixed equity market impact. Less regulation and potential for more M&A would be supportive, but a stronger USD, higher tariffs, and inflationary pressures would be headwinds. A likely easing in regulatory risks should benefit the fossil fuel energy and financial services industries. The consumer discretionary, industrials, and information technology sectors would most likely be negatively impacted by higher tariffs.

Somewhat negative for the fossil fuel energy industry. Greater regulation could lead to higher costs for producers and higher prices for consumers. Possible curbs on oil and gas drilling activity. Risks to M&A activity could increase. Positive for the renewable energy industry.

Neutral to negative for the fossil fuel energy industry, though roughly the status quo with ongoing aggressive regulatory oversight of the energy industry. Possible curbs on oil and gas drilling activity. M&A activity should continue but with ongoing regulatory risks. Neutral to positive for the renewable energy industry.

Most positive scenario for the fossil fuel energy industry. Regulatory and legislative risks decline. Industry would likely maintain lower emission investments (e.g., methane). Oil and natural gas investment could increase. Industry consolidation, more drilling activity, and higher exports of natural gas. Negative for the renewable energy industry.

Somewhat positive for the fossil fuel energy industry as regulatory risks would likely decline. Industry would likely maintain lower emission investments (e.g., methane). Likely a clearer regulatory path toward the necessary investment for industry consolidation, increasing drilling activity and exports of natural gas.

Worst case scenario for financial services. Enactment of the Credit Card Competition Act would be more likely. New regulations and more stringent interpretation of existing regulations would likely continue to drive up costs. Critical rhetoric and headline risk could discourage or delay industry consolidation.

The regulatory pendulum, which has swung against the industry in recent years, would likely continue to be a negative overhang. Anti–big financial services company ideology would remain in place.

Best case scenario for financial services. A potentially more favorable (less punitive) political or regulatory environment could emerge that could lead to cost savings and greater ability to return capital to shareholders. Financial services industry consolidation could face less political or regulatory resistance. 

The appointment of new regulatory heads at the Fed, FDIC, OCC, and SEC would likely be positive (personnel is policy). Although regulatory costs could ease somewhat, a Democrat-led House could hold anti–financial services hearings, which could be negative headline risks for the industry.

Greater congressional and regulatory oversight of aerospace and freight rail. IRA beneficiaries could have a relief rally. Potential for more stringent pollution-related regulations on industrials, chemicals, and mining. 

Greater congressional and regulatory oversight of aerospace and freight rail, but major legislation unlikely. IRA beneficiaries could have a relief rally. Potential for more stringent pollution-related regulations on industrials, chemicals, and mining. 

Less support for green energy initiatives could crimp investment spending in this area. Less onerous pollution regulation. A reimposition of tariffs could drive up US metals, supporting steelmakers but hurting heavy manufacturing. 

Uncertainty around green energy initiatives could crimp investment spending in this area. Less onerous pollution regulation. A reimposition of tariffs could drive up US metals, supporting steelmakers but hurting heavy manufacturing. 

Continued support for domestic semiconductor manufacturing

Continued support for domestic semiconductor manufacturing. Increased tariffs could have direct and indirect impacts on hardware and semiconductor companies, with negative implications for smartphone manufacturers. Additionally, blowback from China could be a headwind for non-domestic vendors and their suppliers.

Assuming thin majorities in Congress, continued regulatory oversight on managed care and continued antitrust scrutiny. Perhaps some effort to expand IRA drug price negotiating powers, although likely limits on how far Democratic Senators in key biopharma employer states will go.

Limited ability for Biden to push any legislation. Continued focus on increased regulatory and antitrust oversight, mainly impacting managed care and providers.

Most likely less regulatory oversight on healthcare. However, Trump's prior proposal for an international drug pricing index would be quite negative for biopharma. Lower antitrust oversight would enable more consolidation, which would be fueled by pressure on drug pricing.

Most likely, limited bipartisan solutions. However, the potential for populist-driven bipartisan legislation could emerge, and drug pricing legislation could be one area of potential bipartisan agreement.

Possible further minimum wage increases, increasing ease of union organization and support for unions. Impact to restaurants, parts of retail. 

Limited change from status quo. Continued regulatory oversight but limited direct impact on consumer companies. 

Tariff risk. This would impact retailers. Most goods sold by US retailers are imported (apparel, footwear, sporting goods, small household appliances, electronics, etc.). China is still a major manufacturing hub for all these products.

A clean sweep by either party increases the potential for legislative action related to Section 230 safe-harbor provisions (limits liability for internet service providers, but still allows them to moderate content). This is a potential risk for roughly 65% of sector market cap.

Limited impact as the status quo likely continues.

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40 Facts About Elektrostal

Written by Lanette Mayes

Modified & Updated: 01 Jun 2024

Reviewed by Jessica Corbett

Elektrostal is a vibrant city located in the Moscow Oblast region of Russia. With a rich history, stunning architecture, and a thriving community, Elektrostal is a city that has much to offer. Whether you are a history buff, nature enthusiast, or simply curious about different cultures, Elektrostal is sure to captivate you.

This article will provide you with 40 fascinating facts about Elektrostal, giving you a better understanding of why this city is worth exploring. From its origins as an industrial hub to its modern-day charm, we will delve into the various aspects that make Elektrostal a unique and must-visit destination.

So, join us as we uncover the hidden treasures of Elektrostal and discover what makes this city a true gem in the heart of Russia.

Key Takeaways:

• Elektrostal, known as the “Motor City of Russia,” is a vibrant and growing city with a rich industrial history, offering diverse cultural experiences and a strong commitment to environmental sustainability.
• With its convenient location near Moscow, Elektrostal provides a picturesque landscape, vibrant nightlife, and a range of recreational activities, making it an ideal destination for residents and visitors alike.

Known as the “Motor City of Russia.”

Elektrostal, a city located in the Moscow Oblast region of Russia, earned the nickname “Motor City” due to its significant involvement in the automotive industry.

Home to the Elektrostal Metallurgical Plant.

Elektrostal is renowned for its metallurgical plant, which has been producing high-quality steel and alloys since its establishment in 1916.

Boasts a rich industrial heritage.

Elektrostal has a long history of industrial development, contributing to the growth and progress of the region.

Founded in 1916.

The city of Elektrostal was founded in 1916 as a result of the construction of the Elektrostal Metallurgical Plant.

Located approximately 50 kilometers east of Moscow.

Elektrostal is situated in close proximity to the Russian capital, making it easily accessible for both residents and visitors.

Known for its vibrant cultural scene.

Elektrostal is home to several cultural institutions, including museums, theaters, and art galleries that showcase the city’s rich artistic heritage.

A popular destination for nature lovers.

Surrounded by picturesque landscapes and forests, Elektrostal offers ample opportunities for outdoor activities such as hiking, camping, and birdwatching.

Hosts the annual Elektrostal City Day celebrations.

Every year, Elektrostal organizes festive events and activities to celebrate its founding, bringing together residents and visitors in a spirit of unity and joy.

Has a population of approximately 160,000 people.

Elektrostal is home to a diverse and vibrant community of around 160,000 residents, contributing to its dynamic atmosphere.

Boasts excellent education facilities.

The city is known for its well-established educational institutions, providing quality education to students of all ages.

A center for scientific research and innovation.

Elektrostal serves as an important hub for scientific research, particularly in the fields of metallurgy , materials science, and engineering.

Surrounded by picturesque lakes.

The city is blessed with numerous beautiful lakes , offering scenic views and recreational opportunities for locals and visitors alike.

Well-connected transportation system.

Elektrostal benefits from an efficient transportation network, including highways, railways, and public transportation options, ensuring convenient travel within and beyond the city.

Famous for its traditional Russian cuisine.

Food enthusiasts can indulge in authentic Russian dishes at numerous restaurants and cafes scattered throughout Elektrostal.

Home to notable architectural landmarks.

Elektrostal boasts impressive architecture, including the Church of the Transfiguration of the Lord and the Elektrostal Palace of Culture.

Offers a wide range of recreational facilities.

Residents and visitors can enjoy various recreational activities, such as sports complexes, swimming pools, and fitness centers, enhancing the overall quality of life.

Provides a high standard of healthcare.

Elektrostal is equipped with modern medical facilities, ensuring residents have access to quality healthcare services.

Home to the Elektrostal History Museum.

The Elektrostal History Museum showcases the city’s fascinating past through exhibitions and displays.

A hub for sports enthusiasts.

Elektrostal is passionate about sports, with numerous stadiums, arenas, and sports clubs offering opportunities for athletes and spectators.

Celebrates diverse cultural festivals.

Throughout the year, Elektrostal hosts a variety of cultural festivals, celebrating different ethnicities, traditions, and art forms.

Electric power played a significant role in its early development.

Elektrostal owes its name and initial growth to the establishment of electric power stations and the utilization of electricity in the industrial sector.

Boasts a thriving economy.

The city’s strong industrial base, coupled with its strategic location near Moscow, has contributed to Elektrostal’s prosperous economic status.

Houses the Elektrostal Drama Theater.

The Elektrostal Drama Theater is a cultural centerpiece, attracting theater enthusiasts from far and wide.

Popular destination for winter sports.

Elektrostal’s proximity to ski resorts and winter sport facilities makes it a favorite destination for skiing, snowboarding, and other winter activities.

Promotes environmental sustainability.

Elektrostal prioritizes environmental protection and sustainability, implementing initiatives to reduce pollution and preserve natural resources.

Home to renowned educational institutions.

Elektrostal is known for its prestigious schools and universities, offering a wide range of academic programs to students.

Committed to cultural preservation.

The city values its cultural heritage and takes active steps to preserve and promote traditional customs, crafts, and arts.

Hosts an annual International Film Festival.

The Elektrostal International Film Festival attracts filmmakers and cinema enthusiasts from around the world, showcasing a diverse range of films.

Encourages entrepreneurship and innovation.

Elektrostal supports aspiring entrepreneurs and fosters a culture of innovation, providing opportunities for startups and business development .

Offers a range of housing options.

Elektrostal provides diverse housing options, including apartments, houses, and residential complexes, catering to different lifestyles and budgets.

Home to notable sports teams.

Elektrostal is proud of its sports legacy , with several successful sports teams competing at regional and national levels.

Boasts a vibrant nightlife scene.

Residents and visitors can enjoy a lively nightlife in Elektrostal, with numerous bars, clubs, and entertainment venues.

Promotes cultural exchange and international relations.

Elektrostal actively engages in international partnerships, cultural exchanges, and diplomatic collaborations to foster global connections.

Surrounded by beautiful nature reserves.

Nearby nature reserves, such as the Barybino Forest and Luchinskoye Lake, offer opportunities for nature enthusiasts to explore and appreciate the region’s biodiversity.

Commemorates historical events.

The city pays tribute to significant historical events through memorials, monuments, and exhibitions, ensuring the preservation of collective memory.

Promotes sports and youth development.

Elektrostal invests in sports infrastructure and programs to encourage youth participation, health, and physical fitness.

Hosts annual cultural and artistic festivals.

Throughout the year, Elektrostal celebrates its cultural diversity through festivals dedicated to music, dance, art, and theater.

Provides a picturesque landscape for photography enthusiasts.

The city’s scenic beauty, architectural landmarks, and natural surroundings make it a paradise for photographers.

Connects to Moscow via a direct train line.

The convenient train connection between Elektrostal and Moscow makes commuting between the two cities effortless.

A city with a bright future.

Elektrostal continues to grow and develop, aiming to become a model city in terms of infrastructure, sustainability, and quality of life for its residents.

In conclusion, Elektrostal is a fascinating city with a rich history and a vibrant present. From its origins as a center of steel production to its modern-day status as a hub for education and industry, Elektrostal has plenty to offer both residents and visitors. With its beautiful parks, cultural attractions, and proximity to Moscow, there is no shortage of things to see and do in this dynamic city. Whether you’re interested in exploring its historical landmarks, enjoying outdoor activities, or immersing yourself in the local culture, Elektrostal has something for everyone. So, next time you find yourself in the Moscow region, don’t miss the opportunity to discover the hidden gems of Elektrostal.

Q: What is the population of Elektrostal?

A: As of the latest data, the population of Elektrostal is approximately XXXX.

Q: How far is Elektrostal from Moscow?

A: Elektrostal is located approximately XX kilometers away from Moscow.

Q: Are there any famous landmarks in Elektrostal?

A: Yes, Elektrostal is home to several notable landmarks, including XXXX and XXXX.

Q: What industries are prominent in Elektrostal?

A: Elektrostal is known for its steel production industry and is also a center for engineering and manufacturing.

Q: Are there any universities or educational institutions in Elektrostal?

A: Yes, Elektrostal is home to XXXX University and several other educational institutions.

Q: What are some popular outdoor activities in Elektrostal?

A: Elektrostal offers several outdoor activities, such as hiking, cycling, and picnicking in its beautiful parks.

Q: Is Elektrostal well-connected in terms of transportation?

A: Yes, Elektrostal has good transportation links, including trains and buses, making it easily accessible from nearby cities.

Q: Are there any annual events or festivals in Elektrostal?

A: Yes, Elektrostal hosts various events and festivals throughout the year, including XXXX and XXXX.

Elektrostal's fascinating history, vibrant culture, and promising future make it a city worth exploring. For more captivating facts about cities around the world, discover the unique characteristics that define each city . Uncover the hidden gems of Moscow Oblast through our in-depth look at Kolomna. Lastly, dive into the rich industrial heritage of Teesside, a thriving industrial center with its own story to tell.

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Will China’s historic paper on Chang’e-6 lunar far side samples be in English or Chinese?

• The Chang’e-6 mission’s cargo is expected to yield a wealth of research but debate is growing about what language it will be published in first

Within China’s scientific community, there persists a notion that publishing in English is not only a medium of communication, but also a bridge to global recognition. The use of Chinese remains taboo, a silent sacrifice at the altar of international acceptance.

When China’s Chang’e-5 mission in 2020 retrieved the first lunar samples in decades from the moon’s near side, the first research was carried out by a joint team of Chinese and Western scientists and appeared in Science magazine in October 2021.

This was followed by three more scientific papers published by Nature in the same month, according to an editor with the Science China Press, a scientific journal publishing company of the Chinese Academy of Sciences (CAS), recalling the global sensation.

The rocks collected in 2020 led to a number of surprising discoveries, as they turned out to be much younger than the samples brought back by the US Apollo and Soviet Luna missions in the 1960s and 1970s.

“We certainly hope that some of our country’s groundbreaking scientific and technological achievements can appear in China’s top journals, so that we can expand our influence,” said the editor, who asked not to be named.

It was not always so. Tu Youyou, who won China’s first Nobel Prize for science in 2015, published her paper on the discovery of artemisinin in the Chinese Science Bulletin in 1977.

The journal, co-sponsored by CAS and the National Natural Science Foundation of China, once published many major discoveries but since the 1990s has suffered from a lack of quality manuscripts.

Speaking at a conference in 2018, George Gao Fu – a leading scientist in the field of virology and immunology and former head of the Chinese Centre for Disease Control and Prevention (CDC) – said Chinese as a language of academic communication “used to be glorious”.

Breakthroughs, including Tu’s achievement and the discovery of high-temperature iron-based superconducting materials, had been published first in Chinese-language journals and then recognised by the world, he said.

However, for three decades China’s important scientific research results were “basically first reported by foreign journals”, Gao noted.

Interestingly, just a few years later, Gao led a landmark study by a Chinese CDC team on the epidemiology of Covid-19 that was first published in January 2020 by the New England Journal of Medicine.

The move caused controversy in China, where the public was eager for any information about the new coronavirus that causes Covid-19 as the country grappled with the early stages of the pandemic.

The response to the overseas publication of the study reflected a broader, uncomfortable dilemma for Chinese researchers: while they recognise the importance or necessity of writing in their native language, it is difficult on a practical level.

China’s Chang’e-6 touches down on far side of moon on mission to bring rock samples back to Earth

Newton’s Principia Mathematica was written in Latin. Einstein’s first influential papers were written in German. Marie Curie’s work was published in French.

Yet, since the middle of the last century, there has been a shift in the global scientific community, with most scientific research now published in a single language – English, which is spoken by only about 18 per cent of the world’s population.

While it is estimated that up to 98 per cent of global scientific research is published in English, the number of papers by Chinese scholars has been climbing.

As early as 2010, Chinese biologist Zhu Zuoyan, a CAS academician, observed that the number of papers published by scholars from China had risen from 0.2 per cent of the world’s total to 10 per cent within a decade, second only to the United States.

But China’s academic evaluation system encourages the flow of excellent papers to foreign journals, which had partly led to the country’s lack of international academic impact, despite having the second largest number of academic journals – more than 4,800 – in the world, he said.

In late 2019, Li Zhimin, former director of the Ministry of Education’s Science and Technology Development Centre, called for papers to be published in the country’s official language if the research is funded by the government.

The requirement would make it easier for funders to review research projects, facilitate exchanges with their domestic counterparts and improve the nation’s scientific literacy, he said.

A CAS physicist, who declined to be named, stressed that the proposal to “write research results on the soil of the motherland” could not simply be understood as submitting and publishing articles in domestic journals and in Chinese.

That would be “parochial”, he said. Rather, the key is to focus research on solving crucial issues or problems in China’s development, rather than blindly following global research hotspots and wasting research funds and resources.

But at an individual level, there are plenty of pragmatic reasons and incentives for researchers to do just that. Under China’s evaluation system, getting articles published in prestigious English-language journals often brings rewards.

In addition to promotion opportunities and academic honours, there is also fame, with overseas scientific recognition tending to attract wide media and public attention.

Last month, for example, biologist Zhu Jiapeng earned a prize from Nanjing University of Traditional Chinese Medicine for his “outstanding contribution” and a grant of 1 million yuan (US$138,000) as one of the lead authors in a study published by Nature.

Astronomer Deng Licai, with the National Astronomical Observatories under CAS, believes that research results from national missions such as the Chang’e programme should be prioritised for publication in domestic journals.

Deng, who has been a team leader on China’s giant telescope project since its development in the 1990s and 2000s, said he insisted that the first batch of studies to emerge from the Large Sky Area Multi-Object Fibre Spectroscopic Telescope (Lamost) appeared in domestic journals.

“This can firstly highlight the nationality of these independent and cutting-edge major scientific projects, and also help to enhance the international impact of domestic academic journals,” he said.

But English has become the international scientific community’s lingua franca and should be used as a medium of communication, Deng said, adding that it had nothing to do with politics.

China’s space plans: lunar GPS, a 3D-printed moon base and soil samples from Mars

According to Deng, the scientists who study the Chang’e-6 lunar samples could consider publishing in some of China’s English-language journals, such as Research in Astronomy and Astrophysics (RAA).

“All of our pre-research articles on the Lamost programme published in RAA have made it into international lists of highly cited articles,” he said.

Chinese Academy of Social Sciences researcher Zhu Rui, who prefers to publish in Chinese journals – partly because the academy encourages it – said that using his own language when writing academic papers is not an obstacle, as long as the scientific community maintains substantive communication.

Financial Literacy and Investor Awareness: Issues to Wealth Management

International Journal of Applied Business and Economic Research, Volume 15 Issue No. 2 Serial Publications, pp 51-61, 2017

15 Pages Posted: 20 Oct 2017 Last revised: 25 Oct 2017

Priya Priya

Faculty of Management Studies

Nishi Malhotra

IIM Kozhikode

Date Written: October 13, 2017

People spend days together in taking recommendation and studying various models making before purchasing a vehicle. This practice is however never replicated when it comes to making a financial investments entailing far reaching consequences. Since the last two decades, Indian economy has witnessed a number of structural and fundamental changes in financial markets. While Indian economy is on a strong growth trajectory and is ever more consolidated with the Global markets, there is a widespread realization that for such growth and momentum to be sustainable, a parallel deepening of financial sector must precede. And such deepening is possible only when individuals and households are financially literate, and the concept of investor education is more than a norm. Financial literacy & investor awareness is a precursor in the effectiveness of Digital revolution. The research paper aims at identifying the various variables available through secondary data and subsequently establishing a relationship between Financial Literacy and implementation of financial reforms. Financial literacy can also help increase the velocity of money circulation through symmetric information and consequently increase the rate of utility for the consumers. It is an established fact that the financial reforms will usher in an era of higher growth and more customer satisfaction. This paper aims at validating the hypothesis that indeed higher Financial Literacy & investor education leads to higher growth and can be a catalyst in reaping fruits of demographic dividend.

Keywords: Investor education, financial literacy, digital reforms, deepening, money velocity, utility, economic growth

JEL Classification: G11

Suggested Citation: Suggested Citation

Priya Priya (Contact Author)

Faculty of management studies ( email ).

North Campus Maurice Nagar Delhi, 110007 India

IIM Kozhikode ( email )

Hostel G Room Number 19 IIM Kozhikode Kozhikode, KERALA, Rajasthan 673570 India +919873145005 (Phone)

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Evaluating the Event Industry for a Web-Based Event Supplier Management System

• Jean L. Galay , Riah Encarnacion
• Published in International Journal of… 18 June 2024
• Computer Science, Business

8 References

Enabling situation awareness with supply chain event management, how do supplier relationships contribute to success in conference and events management, supply chain event management: three perspectives, usage and evaluation of supply chain management software – results of an empirical study in the european automotive industry, demand chain management in manufacturing and services: web-based integration, drivers and performance, a decomposition-based approach for the development of a supply chain strategy, supply chain management and financial performance: literature review and future directions, efficient consumer response as a supply chain strategy for grocery businesses, related papers.

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