PT - JOURNAL ARTICLE AU - Jean L.P. Brunel TI - Goal-Based Wealth Management in Practice AID - 10.3905/jwm.2011.14.3.017 DP - 2011 Oct 31 TA - The Journal of Wealth Management PG - 17--26 VI - 14 IP - 3 4099 - https://pm-research.com/content/14/3/17.short 4100 - https://pm-research.com/content/14/3/17.full AB - Though goals-based wealth management is certainly not a radically new discipline, it has recently assumed a more important role within the private wealth management industry. Two discrete factors probably stand behind this development: a change in client perceptions of risk after the 2008 market melt-down and the publication of the seminal piece by Das, Markowitz, Scheid, and Statman. This article starts with a review of the key issues which families typically face when dealing with wealth planning, then discusses a framework which allows advisors to consider financial, estate, and investment-planning needs, shows the practical considerations associated with the process and concludes with a brief discussion of the major business challenges that still need to be addressed.TOPICS: Wealth management, in wealth management, financial crises and financial market history