The Liquidity Mismatch in Client Portfolios: Investing for Retirement

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Daily liquidity is important if your clients are day traders or need to quickly cash in their entire investment portfolio. Most of your clients, however, do not need 100% liquidity in many areas of their portfolio, especially the portion earmarked for retirement. This webinar will outline:

• Why there is currently a liquidity mismatch between conventional portfolio construction and individual investors’ goals for the future.
• How investors who are saving for retirement or college should have investment portfolios that reflect these long-term interests.
• The ways these investors often sacrifice additional returns in exchange for full and immediate liquidity. 

The liquidity mismatch is found anywhere in a portfolio that is 100% liquid but earmarked for long-term objectives; this is most stark when it comes to retirement savings. A more sensible approach involves aligning long-term retirement goals with a thoughtful allocation to illiquid investments and their corresponding return opportunities.

Kim and David will answer attendees’ questions during the webinar and will be available to continue the discussion on APViewpoint.

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CFP Board® and IMCA® CE credit approved

The CFP Board® has accepted the LIVE program for one hour of CE credit towards the CFP® certification. If you provide the required information during the webinar registration process and stay for the entire session we will report your attendance to these organizations.

IMCA® has accepted this program for one hour of CE credit towards the CIMA®, CIMC® and CPWA® certifications. If you provide the required information during the webinar registration process and stay for the entire LIVE event we will report your attendance to IMCA®. If you watch the ON-DEMAND event please email us at [email protected] for the IMCA® webinar ID to self-report your attendance.

Speakers

Kimberly Flynn, CFA
Managing Director, Alternative Investments
XA Investments

Kim is a partner in the firm and responsible for all product and business development activities. Kim created the Alternative Registered Trust (ART) ™ platform at XA Investments in 2016 working in partnership with independent sub-advisers representing best-in-class alternative investment managers. Previously, Kim was Senior Vice President and Head of Product Development for Nuveen Investments’ Global Structured Products Group. In her 11 years at Nuveen, she helped developed over 40 closed-end funds raising ~$13 billion in capital. In her leadership role at Nuveen, Kim was responsible for asset raising activities through the development of new traditional and alternative investment funds including CEFs, ETFs, UITs and commodity pools. Kim received her MBA degree from Harvard University, where she was a William J. Carey scholar and president of the HBS Volunteers. Kim holds FINRA Series 7, 63 and 24 registrations.

David Adler
Senior Advisor on Economics
XA Investments

David Adler is a Senior Advisor to XA Investments on Economics. As an economic analyst and author, he focuses on illiquidity and behavioral economics. David is the author of the monograph, “The New Economics of Liquidity and Financial Frictions,” published by the CFA Institute Research Foundation. Previously, he wrote the liquidity and asset-pricing literature review for the CFA Institute Research Foundation and was co-investigator of a research study of tax-aware practices among investment professionals. David is also the author of “Snap Judgment” (FT Press), which is about behavioral economics, and he is the co-editor of the anthology, “Understanding American Economic Decline” (Cambridge University Press).

David is a producer of the PBS NOVA documentary, “Mind Over Money,” which is about behavioral economics, as well as the documentary “America’s Crisis in Healthcare and Retirement,” which was also shown on PBS. He also participated in related educational and outreach efforts.

He is the moderator of the Bloomberg LiveINSIGHTs conference series and author of related white papers. David has an MA and BA in Economics from Columbia where he received a graduate scholarship, graduated summa cum laude and was awarded Phi Beta Kappa in his junior year as one of the 10 highest-ranked undergraduates and highest-ranked economics major. David also studied graduate economics at New College, Oxford, on a scholarship sponsored by Columbia. He attended the Behavioral Economics Summer Institute (“behavioral summer camp”) in Trento, Italy. David lives in New York.

Robert Huebscher
CEO and Founder
Advisor Perspectives

Robert Huebscher is the founder and CEO of Advisor Perspectives and serves as its editor-in-chief. He is a frequent speaker at industry conferences and has written extensively on topics including investment management, portfolio construction, financial planning and global economics.