Most wealth managers outsource the investment management of their clients’ portfolios. Bernstein, by contrast, takes an integrated approach. We manage almost all of our portfolios in-house, leveraging our renowned global research, because having in-depth knowledge of all of your positions on a real-time basis allows us to:
- Avoid performance chasing when selecting asset classes and portfolios
- Manage risk comprehensively without reducing long-term returns
- Reduce taxes more effectively. We assess potential trades on an after-tax basis, taking into account all the gains and losses across the portfolios
Our integrated solution starts with wealth planning and asset allocation. We deploy our platform to help clients choose the best mix of investment strategies to populate their asset mix based on their objectives. A senior team guides this process to make sure every client gets the best we have to offer.
INTEGRATED MANAGEMENT HELPS PREVENT PERFORMANCE-CHASING
- Past performance is not necessarily indicative of future results.
- *Fund flows are represented by total net new cash flow into US-equity funds
- **The hypothetical performance after fees of a taxable 60% stock/40% bond Bernstein Moderate Portfolio Simulation is presented for illustrative purposes only.
- While the performance shown does not represent that of actual managed accounts, this simulation is designed to reflect the investment experience of a Bernstein client who followed Bernstein’s investment advice during the period indicated. No representation is being made that an investor will, or is likely to, achieve a profit similar to the result shown here. The total fees and expenses applicable to the portfolio, including fees for maintaining a Bernstein private-client relationship, are described in fee schedules tailored to specific account structures. Also see Notes on Performance Statistics at the end of this report. †US municipal bonds are represented by the Lipper Short/Intermediate Blended Municipal Fund Average, US stocks by the S&P 500. ^Average investor in US-registered stock funds, which may include funds invested in whole or in part in international or global stocks. There can be no assurance that working with a financial advisor will improve investment results. Investors cannot invest directly in indexes. The results for the average US-municipal-fund and stock-fund investors are in the Dalbar study “Quantitative Analysis of Investor Behavior” (QAIB), 2016. QAIB calculates investor returns, capturing realized and unrealized capital gains, dividends, interest, trading costs, sales charges, fees, expenses, and any other costs, annualized over the period.
- Source: BusinessWeek, Dalbar, Investment Company Institute, Lipper, Standard & Poor’s, and AB