Financial Analysts Journal Presentation Recorded 04 Jun 2019
Wealth Management In Practice: Trend-Following Decumulation Strategies
Planning for decumulation of assets is complicated by the sequence risk of returns: Suffering losses in down markets without sufficient remaining lifetime to recover can be devastating to achieving clients’ goals. Featuring three wealth management practitioners who are CFA® charterholders, along with one of the article's authors, this webinar will discuss and critique the Financial Analysts Journal® article "Reducing Sequence Risk Using Trend Following and the CAPE Ratio" to discern if trend-following strategies can be a useful technique for advisers seeking to minimize sequence risks for their clients.
About the Speaker(s)
Steve Curley, CFA, is chief investment officer and a principal at WaterOak Advisors, a fee-only wealth management firm headquartered in Winter Park, Florida. The firm and its principals have received national recognition, including the Barron’s Top 100, Forbes Top 200, and Financial Times Top 300 rankings. As CIO, Mr. Curley is the head of the firm’s investment committee and is responsible for all of the firm’s investment strategies. His duties also include providing leadership and direction to the firm. Mr. Curley was ranked by Forbes in 2017 and 2018 as a Top Next-Gen Wealth Advisor. He serves as a board member of CFA Society Orlando and is a NAPFA-registered adviser and a CFP certificant. Mr. Curley holds an MBA from University of Central Florida.
Denise Farkas, CFA, is chief investment officer at Sigma Investment Counselors, where she chairs the investment committee and oversees the investment research process. She also serves as a relationship officer and investment adviser on client accounts. Prior to joining Sigma, Ms. Farkas served as director of research at a Cleveland-based investment advisory firm. She is a member of the board of trustees of Hathaway Brown School and chairs the investment committee. Ms. Farkas has served on the Board of Governors of CFA Institute and on the board’s executive committee as audit chair. She also served as chair of the Capital Markets Policy Committee and member of the Curriculum Executive Advisory Board at CFA Institute. Ms. Farkas was appointed by the Ohio state legislature as an investment expert to the Ohio Bureau of Workers Compensation Oversight Commission, where she served as audit committee chair and member of the investment committee. She holds a business degree from Emory University and an MBA from the Weatherhead School of Management at Case Western Reserve University.
Daniel S. Kern, CFA, is chief investment officer at TFC Financial Management, where he is responsible for overseeing TFC’s investment process, research activities, and portfolio strategy. Additionally, he authors investment newsletters and white papers, meets with select clients to provide investment support, and chairs the firm's investment committee. Prior to joining TFC, Mr. Kern was president and chief investment officer at Advisor Partners, managing director and portfolio manager at Charles Schwab Investment Management, managing director and principal at Montgomery Asset Management, and vice president at Wells Fargo Bank. He is a board member and chair of the investment committee for the Cambridge Community Foundation, on the board of overseers for the Brandeis International Business School, an independent trustee for Green Century Funds, and on the board of directors of Wealthramp. Mr. Kern served as a board member and president of CFA Society San Francisco as well as board member of the Bay Area Financial Education Foundation. He is a contributor to US News & World Report and ThinkAdvisor.com, a regular guest on Bloomberg’s Baystate Business, and a frequent speaker at regional, national, and international investment forums. Mr. Kern holds a BA in economics from Brandeis University and an MBA degree from the Haas School of Business at the University of California, Berkeley.
Peter Smith has been Professor of Economics and Finance at the University of York since 2002. He is Honorary Vice President of Money, Macro and Finance Research Group and has been an adviser to the Financial Conduct Authority, the Ministry of Defence, the Department for Business, Innovation and Skills and the Productivity Commission (Australia). He is Senior Adviser to Solent Systematic Investment Strategies.
In recent times he has published research on the importance of macroeconomic sources of risk in domestic and international asset markets and the significance and use of absolute momentum as an investment strategy in a range of asset markets. He has published research papers in 29 different international journals and in 10 books.