Merrill Lynch Wealth Management is teaming up with France’s EDHEC Business School to develop new research on risk allocation and goals based investing, the organizations announced today.
The initiative involves the pursuit of fundamental research on risk allocation and goals-based wealth management through a collaboration between Merrill Lynch’s Investment Management and Guidance group and the EDHEC-Risk Institute.
The aim of the research project is to deliver a mathematically rigorous approach to investing for goals such as capital preservation, retirement income, maintenance of minimum wealth levels and preferences regarding risk and liquidity, according to Professor Lionel Martellini, scientific director of EDHEC-Risk Institute, who will lead its participation in the partnership.
“We are delighted to be able to work on the industry-relevant and intellectually stimulating subject of risk and goal allocation, thanks to our collaboration with Merrill Lynch on this research chair,” said Professor Martellini, who is based in Nice, France.
The leader of the initiative for Merrill Lynch is Anil Suri, head of Portfolio Construction and Investment Analytics for Investment Management and Guidance.
Ashvin Chhabra, chief investment officer for Merrill Lynch Wealth Management and head of Investment Management and Guidance, said he was delighted with the collaboration.“This research is fundamental to delivering a client-centric, goals-based approach to investing,” said Chhabra, a pioneer in goals-based wealth management as the architect of the Wealth Allocation Framework.
About EDHEC-Risk Institute
EDHEC Business School launched the EDHEC-Risk Institute in 2001 to leverage its critical mass of expertise in asset and risk management. The institute now boasts a team of more than 95 permanent professors, engineers and support staff, as well as 48 research associates from the financial industry and affiliate professors.
EDHEC-Risk Institute is located at campuses in Singapore; the City of London; Nice and Paris in France, and New York. It distributes its research to the industry through a Web site, www.edhec-risk.com; a monthly newsletter and annual conferences held in London, Singapore and New York.
The Institute offers a PhD in Finance programme that includes an executive track with affiliate faculty from universities such as Princeton, Wharton, Oxford, Chicago and CalTech.
In 2012, it signed strategic partnership agreements with the Operations Research and Financial Engineering department of Princeton University to set up a joint research programme in risk and investment management, and with Yale School of Management to set up joint certified executive training courses in North America and Europe in the area of investment management.
Merrill Lynch Wealth Management
Merrill Lynch Global Wealth Management is a leading provider of comprehensive wealth management and investment services for individuals and businesses globally. With over 13,700 Financial Advisors and $1.9 trillion in client balances as of December 31, 2013, it is among the largest businesses of its kind in the world. Within Merrill Lynch Global Wealth Management, the Private Banking and Investment Group provides tailored solutions to ultra affluent clients, offering both the intimacy of a boutique and the resources of a premier global financial services company. These clients are served by more than 150 Private Wealth Advisor teams, along with experts in areas such as investment management, concentrated stock management and intergenerational wealth transfer strategies. Merrill Lynch Global Wealth Management is part of Bank of America Corporation.
Source: Bank of America. Merrill Lynch Global Wealth Management (MLGWM) represents multiple business areas within Bank of America’s wealth and investment management division including Merrill Lynch Wealth Management (North America and International), Merrill Lynch Trust Company, and Private Banking and Investments Group. As of December 31, 2013, MLGWM entities had approximately $1.9 trillion in client balances. Client Balances consists of the following assets of clients held in their MLGWM accounts: assets under management (AUM) of MLGWM entities, client brokerage assets, assets in custody of MLGWM entities, loan balances and deposits of MLGWM clients held at Bank of America, N.A. and affiliated banks.
This news is courtesy of www.bankofamerica.com
One Response to “Merrill Lynch Wealth Management and EDHEC Business School Join Forces to Advance Goals-Based Wealth Management”
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March 25th, 2014 at 7:46 am
I see that Merrill Lynch is taking control here and plans to be current with innovative ideas and trends involving wealth management for their clients by joint venturing with France’s EDHEC business school and their affiliate campuses in Singapore, Nice and London in an effort to remain at the “top” of the Investment Industry – very good move here.
Merrill Lynch’s target group as stated in the article, are the ultra affluent clients.
If they aim to deliver a mathematically rigorous approach to investing for goals such as capital preservation, retirement income, maintenance of minimum wealth levels and preferences regarding risk and liquidity, no one should be disqualified from benefiting from these services to make room for the new affluent clients that Merrill Lynch has birthed. Do I detect some discrimination here? Build up some new portfolios out of little. Otherwise your efforts seem limited as is customary, to the ‘fortunates’
You did not make any reference to what aid or how the schools will benefit from your partnership with regards funding, scholarships or future employment of students with your organization. Is this being considered? .