Goals-Based Wealth Management: Podcast with Jean Brunel

Goals-Based Wealth Management: Podcast with Jean Brunel

Jean Brunel Discusses Goals-Based Wealth Management with Angelo J. Robles

In Part 15 of the FOA Podcast Audio Series, Angelo J. Robles is joined by Jean Brunel as they discuss the goals-based wealth management. You can either read the transcription or listen to the podcast to learn more.

Transcript Preview:

Angelo Robles: Hello everyone. This is Angelo Robles of Family Office Association. Thank you for joining today’s FOA Audio Podcast. We are very fortunate to be joined by Jean Brunel, CFA. Jean is a managing principle of Brunel Associates, a firm that serves ultra-high-net-worth individuals and their advisors. Formerly, he was Chief Investment Officer at J.P. Morgan’s Global Private Bank, and a Director and Member of the Executive Committee of J.P. Morgan Investment Management. He has been Editor of The Journal of Wealth Management since 1998 and author of Integrated Wealth Management: The New Direction for Portfolio Managers, as well as many peer-reviewed articles. He received the C. Steward Sheppard Award from the CFA Institute in 2011, and the Multi-Family Office CIO of the Year Award from Family Office Review in 2012. Jean has authored a new book, which I had a great pleasure of reading. It amazingly insightful and the primary reason for this podcast today, Goals-Based Wealth Management. It is an integrated and practical approach to changing the structure of wealth advisory practices. Jean, we are so pleased to have you. How are you today?

Jean Brunel: I am doing just fine. Thank you. I am honored to be with you.

Angelo: Thank you. You are very kind. To set the stage a little bit for our audience, the opportunity to truly understand goals—and this applies to families of the most extreme wealth as well—and to understand the process if that is the right word of investing, that has been an investment policy statement, asset allocation, and of course the execution of the underlying investments that make up the framework that the family is going to have. I am really excited to be active in today’s dialogue and talk with Jean, and look forward to our audience as well having a great listen. In really enjoying your book there was a commentary or a phrase that I guess you use with clients early in your book that caught my attention. I am going to read it now, “We are now five years from now and you want to say the program that we have designed and implemented has been successful, Mr. or Mrs. Client, how will you justify that?” Let me alter that question a little bit that you also reference in the book. “We are now five years from now and you want to say the program that we designed and implemented has been a failure. How will you justify that?” Why do you ask those questions? And if you do not mind sharing, what are some of responses that you have received?

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