This session will focus on the familiar but incomplete notion of mood and attitude toward risk and risk aversion, in some sense the numeraire of wealth management. With a focus on the importance of both advisor and client personality, it will bridge the gap between what is sometimes viewed as an administrative element of the process (e.g., administering and putting into the file the famous Risk Tolerance Questionnaire or RTQ) and what is also critically important for client relationships, planning success and even asset allocation. It will help advisors understand their own personality typologies, give them context for a methodology for understanding the personalities of others, and make links back to the classical treatment of risk preferences.
Chris Geczy has been on the Finance Department faculty at the Wharton School of the University of Pennsylvania since 1997. He is the academic director of the Jacobs Levy Equity Management Center for Quantitative Financial Research. He is also the academic director of the Wharton Wealth Management Initiative at Wharton Executive Education. He has a BA in economics from the University of Pennsylvania and a PhD in finance and econometrics from the Graduate School of Business at the University of Chicago (now the Booth School).
Geczy regularly teaches investment management and co-created the first full course on hedge funds at The Wharton School. In 2013, he created the school’s first survey course in sustainable/ESG investing, open to undergraduates and MBA and Executive Education students. He has created and taught many courses at Wharton Executive Education, and he has taught AIMR/CFA Institute-accredited professional risk management courses through the University of Chicago’s Booth School of Business.
Geczy’s current research focuses on various topics including multifactor models, wealth management, risk management, asset allocation, the performance of managed funds including hedge funds, venture capital and private equity, impact investing, and ESG incorporation in funds and portfolios and various aspects of equity lending and short-selling. His work has appeared in numerous books and scholarly journals.
He currently serves on Intel’s U.S. Retirement Plans’ Investment Policy Committee. He has served on the Economic Advisory Board of NASDAQ and has been an editor of the Journal of Alternative Investments. He is currently founding co-editor of the Financial Planning Review, the academic journal of the CFP® Board Center for Financial Planning.
His research has been reported in the Wall Street Journal, the New York Times, the Financial Times, Forbes, NPR, on CNBC’s “Squawk Box” and in numerous other media.