Investment Planning

This definitive guide for investment advisers is unique in explaining both the theory and practice of investment planning and will enable advisers to construct portfolios for clients using contemporary 'best practice' methods. It gives an overview of investment markets and long-term investment returns, examines recent changes in capital markets and puts investing in its economic context. It explains the theory of capital markets and investment as taught for professional investment qualifications, particularly the analysis of diversification and risk, and points up the areas where this theory is being questioned and adapted by practitioners. It provides an overview of the tax 'wrappers' and the types of collective and packaged investments available in the UK, enabling advisers to combine them effectively in client portfolios. It brings these elements together in a substantial section on the process of client advice, setting out the factors that must be included to produce a robust outcome together with an optimal sequence of steps for the adviser to follow, incorporating the latest insights in behavioural finance and psychometric profiling. The book's style is clear and approachable, explaining issues of importance without being dominated by technical jargon. Users can also access a website including other resources and links to relevant material on the internet.