Jean-Pierre Aubry
speaker
560 appearances
1 recordings
1 series
first heard Jul 2026
last heard 23 Jul
Jean-Pierre Aubry’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
portfolio wages already has lots of bonds.
And once you retire, you don't have that bond like income and you're really exposed to equities.
And so risk is much more relevant for retirees living on financial assets and trying to kind of reallocate their income flows because they don't have wages as for bond like income is important.
Not much.
That was my guess.
And I think we actually had a survey question in there specifically, and I can't recall exactly what.
I know the result was that they don't have much understanding of that phenomenon and what it means.
But I don't think it played a heavy part in our research because of that.
They do, actually.
I think our data shows about 75%, I think, three quarters of advisors understand the importance of sequence of return risk.
What's interesting, though, is that among, not even clients, I guess it's retail investors overall, there's actually no difference in understanding sequence of return risk, whether you have an advisor or not.
So even though advisors understand it, it's not clear that it's transferring at all to clients in terms of appreciating the importance of sequence of return risk, in particular when you're retired, because that's when you're withdrawing money.
And it can have a significant impact whether bad returns come at the beginning or come at the end when you're pulling out money each period to pay for bills.
In the end, as long as they get it right in terms of their execution, whether they only internalize the reason maybe is not as important.
And hopefully financial advisors are helping them do that.
The canonical approach, this is kind of how TDS were designed, to be candid.
I mean, it should decline over time.
As you get near to retirement and get older, that your risk profile should change and decrease your exposure to stocks more towards something that's bond-like.
And that's, again, what you see with TDS, what you see in people's actual practices, just for how they feel about the kind of exposure they want.
But it's also economic theory that shows that for a lifecycle model,
Showing 521–540 of 560 · page 27 of 28
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