Dimensional Fund Advisors tells RIAs it's getting active in its quest for 401(k) assets
DFA says this new plan will complement, not compete with, the services an advisor offers
Elmer Rich III
First, the editor is to be congratulated for noting that the “Noble” prize for economics is not actually a real Nobel Prize but a prize named after Nobel, awarded by a Swedish bank. This is a very misleading mistake that has be perpetrated by educational institutions and the media.
The misrepresentation needs to be corrected because it is false and it implies economics, as a field of study, is at the same level of sophistication and evidence that the physical and medical sciences are. Economics is not.
Managed accounts are problematic. There is little evidence that any form of active management or managing “dynamically” is superior. Also, “addressing all the risks” is highly problematic — regardless of the academic prizes one has won.
We have had managed account solution clients. It’s is a set of solutions and market that needs a great deal more work and study.
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