Description

This study session consists of three parts. On completion of the video, selected readings and structured assessment, 3 hours of structured CPD will automatically be entered into your CPD log.

1. Implementation - Video

This series of interviews focuses in on the various ways in which the client plan can be implemented, and how to select investment managers from the vast universe of mutual funds and independent asset manager. Contributions are obtained from Andrew Hutton, CFA; Guy Christie; and Steve Horan, CFA.

 

2. Implementation - Selected Readings

Three external papers have been selected in this area:

'Manager Selection' (Excerpt) by Scott D. Stewart (CFA Institute, 2013)

The question of how best to select a manager whether passive or active is a difficult challenge for all investors. This reading highlights how important it is to consider manager selection when an IPS is constructed.

'The Principal–Agent Problem in Finance' (A Summary) by Sunit N. Shah (CFA Institute, 2013)

The principal-agent problem is a much discussed issue which arises at many levels through the financial services profession. This study delves into the history of the problem and examines what can best be done to manage it.

'Asset Allocation for Family Groups' by James E. Hughes Jr (CFA Institute, 2013)

The financial wealth of a high net worth family group once created may be lost in only a few generations if not appropriately managed. This article uses the analogy of entropy in physics to describe how wealth may be lost as it transfers through the generations.

 

3. Implementation - Structured Assessment

The assessment consists of 10 questions and requires a pass score of 70% to be obtained. The test must be passed in the first two attempts in order to successfully complete this study session and for the learning to log as structured learning. 

Activities
Implementation - Video
Implementation - Selected Readings
Implementation - Structured Assessment