A Second Opinion Is Just What The Doctor Ordered

In theory, growing a pool of wealth over decades – whether for a family, an endowment, or a pensioner – is a straightforward endeavor. An advisor or allocator needs to do three things: understand the goals of their client, find different ways to receive compensation for taking risks,1 and then take the right amount of risk to meet those goals.2 Taking too much risk may expose the client to unacceptable drawdowns, while taking too little risk will likely lead to inadequate returns in the long run.