At the end of your life, saying 'I beat the S&P by 3 percent' doesn't mean anything. But if you say, 'I invested well, I had a nice house, my kids went to a good school,' that's something. Today goals-based wealth management has begun to take hold amongst the investment community. Like Liability Driven Investing, the goals-based approach has sought to emphasize unique client goals in favor of a singular focus on risk tolerance and market benchmarks "
- Ashvin Chhabra, former chief investment officer at Bank of America's Merrill Lynch
“People do not know their risk tolerance. They cannot predict how they will react to something like the financial crisis. But Goals-based investing is easier to say than to implement. Most young people cannot even imagine being old, much less thinking about what financial needs they would have. So it makes sense to form goals in stages.”
- Richard Thaler, Nobel Prize in Economics and Professor at the University of Chicago’s Booth School of Business
"I can tell you that using goals-based investing makes periods like 2008 incredibly easy to handle"
- Brunel of Brunel Associates