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Burton Malkiel Talks About Efficient Markets
In this video sponsored by Vanguard, Burton Malkiel, Princeton professor and author of "A Random Walk Down Wall Street," talks with RIJ editor Kerry Pechter about what "efficient market" means to him. The 10th edition of "A Random Walk" has just been published.
Industry Views are special reports that are sponsored and independent from RIJ's editorial content.
DATA CONNECTION
January 25, 2012, Cover Stories, Advisors/Planners/Reps , Technology
Sounds Like a Plan
A directory of 27 software tools accompanies this overview of the rapidly evolving financial planning technology industry.
“Only the dead know Brooklyn,” a great novelist once wrote. Thomas Wolfe wasn’t referring to zombies; he was just observing that no one alive could possibly know everything there was to know about that teeming, complex and now very hip borough across the East River from Manhattan.
Financial planning software is, in a sense, like Brooklyn. Although it’s only a borough within the sprawling giga-city of information technology, it’s much too large and varied a field for anyone (except possibly Joel Bruckenstein) to grasp in its entirety.
In other words, it’s way too big to ignore. Individual advisors, technology buyers at wealth management firms, and, indeed, almost anybody who wants to compete in the retirement income industry, should know more about what’s happening on the planning software front.
For this reason: planning software isn’t just about asset allocation and Monte Carlo analysis anymore. In the mass-affluent end of the advice business, where volume will be high and margins low, it’s a sine qua non of survival.
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