Published work
Our "Baby Bonds" study outlines four principles for wealth equality: open accounts at birth for all, target more funds to lower-income families, invest in multi-asset portfolios for greater returns, and minimize costs while promoting digital engagement. Aimed at narrowing wealth gaps, this approach supports equitable financial opportunities from childhood.
Our research reveals that personalized advice based on individual and partner information can significantly enhance retirement outcomes. This highlights the need for superannuation funds and policymakers to focus on personalized retirement strategies. Tailored guidance could dramatically improve the financial well-being of retirees, marking a crucial step toward optimizing retirement planning practices.
In this article, the authors propose a comprehensive framework for simultaneously allocating assets among active, passive, and factor investments while accounting for the uncertainty in each of the sources of return and investor risk preferences toward them. The authors also highlight some business applications of the adopted approach, such as the construction of factor tilted portfolios and the substitution of low-cost factor strategies for higher-cost active portfolios.
Why practitioners have not adopted the Lifecycle Model....Yet
Research-in-motion
Social Security bridging
Social Security is an effective source of guaranteed income for most Americans. Many retirees are not able to delay claiming it, but for those who can, we look at a range of possible strategies from fixed period annuities, to using their retirement pot.
Retirement income ecosystem
How can plan sponsors create an ecosystem of products and services to help participants convert their retirement savings into retirement income?
Liquidity penalty
There are a variety of illiquidity penalties associated with private investments. We explore different penalties associated with different investor goals when considering a range of private investment options.
Having fun with Utility functions
An exploration of different utility formulations to solve different investor goals. We go from wealth maximisation to stable income generation and beyond.