Advisers need to move beyond old-fashioned asset-allocation models if they want to adapt to today's changing markets, writes Jerry Miccolis, chief investment officer at Brinton Eaton. He describes three techniques for managing clients' portfolios with an eye toward volatility. They include dynamic asset allocation, sector-based buying and selling and low-cost hedging. Advisers who figure out how to adjust to new realities will be rewarded with stronger portfolios and happier clients, Miccolis writes.

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