How to Elicit the True Evaluation of Financial Risk in Wealth Management? A Criticism of MIFID II (notice n° 696798)
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| fixed length control field | 01902cam a2200169 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250121212028.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Munier, Bertrand |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | How to Elicit the True Evaluation of Financial Risk in Wealth Management? A Criticism of MIFID II |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2019.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 56 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | The outflows of funds under management in private banks as well as in other wealth management institutions in the recent period have reached surprising amounts, sometimes imperiling the temporary profitability of the institutions they flow out from. The present article therefore suggests designing a proactive client-risk management grounded on a convincing explanation of such outflows. An innovative implementation of article 25 of the MIFID-II regulation could have provided an appropriate basis to this end. The present article shows that such is not the case, given the tools of implementation essentially selected, based on fixed questioning and qualitative scoring, leading to results opposed to the ones the notion of client suitability intended to reach. Beyond this assessment, the paper dwells on a synthetic view of the evolution of risk analysis and shows that only today’s generalized appraisal of risk tolerance, beyond Von Neumann Morgenstern’s vision, can provide the explanation searched for. The authors recommend using digital interactive tools, based on this model and quickly “learning” the investor’s risk-profile, to implement a proactive client-risk management. This solution at the same time restores a true compliance to MIFID-II regulation. JEL Codes: G21, G28. |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Menk-Bertrand, Ève |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Revue d'économie financière | 133 | 1 | 2019-06-25 | p. 61-93 | 0987-3368 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-revue-d-economie-financiere-2019-1-page-61?lang=en&redirect-ssocas=7080">https://shs.cairn.info/journal-revue-d-economie-financiere-2019-1-page-61?lang=en&redirect-ssocas=7080</a> |
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