TY - JOUR T1 - The Financial Risks Pyramid: <em>Taking a Holistic Approach to Financial Advice</em> JF - The Journal of Wealth Management SP - 27 LP - 34 DO - 10.3905/jwm.2014.17.3.027 VL - 17 IS - 3 AU - Nicola Zanella Y1 - 2014/10/31 UR - https://pm-research.com/content/17/3/27.abstract N2 - The article presents a broad and comprehensive guide to personal finance that the author uses to teach financial planning to advisors working for banks and insurance companies. This is an attempt to create a holistic approach to financial planning, managing the risks that could damage the different forms of individuals’ wealth: mortality risk, liquidity risk, credit risk, property risk, standard of living risk, and aspirational risk. The main idea is that financial advice should be concerned about the global wealth of individuals. For example, in addition to financial wealth, people who work have the so-called human wealth that derives from their specific ability to generate income. The risks pyramid presented here is an organized process to treat personal finance with a rigorous yet simple method. To achieve it, many insights from behavioral finance are used.TOPICS: Wealth management, risk management, in portfolio management ER -