Rick Bookstaber and Dr. Ashby Monk: The Evolution of Financial Advisors as Risk Managers
As more individuals enter and approach retirement, the role of a financial advisor is changing rapidly. An increasing number of clients need their advisors to act as “personal risk managers” and focus on downside protection and stability, vs. growth and outperformance.
To learn more about this evolution, Mark Bruno, Managing Director of Wealth Management at Informa, is joined by Rick Bookstaber, Co-Founder and Head of Risk at Fabric, and Dr. Ashby Monk, Executive and Research Director at Stanford University, to discuss the importance of understanding risk and the advisor’s role as risk manager for clients.
Listen in as Mark, Rick and Dr. Ashby discuss:
- The most prominent market, economic and planning risks in today’s environment
- What financial advisors can learn from institutional investors about risk management
- How advisors should balance long-term risks with short-term risks
- How risk management technology has evolved – specifically, the risk management tools and resources available to financial advisors.
Connect with Mark Bruno:
Connect with Rick Bookstaber:
Connect with Dr. Ashby Monk:
About Our Guests:
Rick Bookstaber has worked in risk management with chief risk officer roles on both the buy-side at Moore Capital and Bridgewater, and on the sell-side at Morgan Stanley and Salomon. From 2009 to 2015 he served in the public sector at the SEC and the U.S. Treasury, drafting the Volcker Rule, building out the risk management structure for the Financial Stability Oversight Council, and developing an agent-based model to assess financial vulnerabilities.
Dr. Ashby Monk is the Executive and Research Director of the Stanford Global Projects Center. He is also a Senior Research Associate at the University of Oxford and a Senior Advisor to the Chief Investment Officer of the University of California. Dr. Monk has a strong track record of academic and industry publications. His research and writing have been featured in The Economist, New York Times, Wall Street Journal, Financial Times, Institutional Investor, Reuters, Forbes, and on National Public Radio among a variety of other media.
Podcast: Play in new window | Download | Embed