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The Asset Allocator: Of Models And Marketing (Podcast)

Aug. 01, 2019 5:00 AM ET5 Comments
SA For FAs profile picture
SA For FAs


  • BlackRock’s Martin Small notes what is not noted enough, that time in the market and asset allocation matter most in investing.
  • The specific composition of any particular investment model is less important, but that’s what attracts investors, and what investment companies market.
  • In my experience, some of the most adulated investors are even greater marketers.
  • Incidentally, a Dalbar study shows that a particularly hated model has been more helpful to investors than models that are more successfully marketed.
  • The finding is so surprising that it should serve to remind advisors to focus firmly on keeping their clients invested.

BlackRock’s Martin Small notes what is not noted enough, that time in the market and asset allocation matter most in investing.

This podcast (6:33) relates some examples of adulated investors who turned out to be in the main great marketers, and draws attention to a hard-to-market investment with which many investors have actually succeeded. The moral of the story is for advisors to focus firmly on keeping their clients invested for long-term success.

This article was written by

SA For FAs profile picture
GIL WEINREICH - Author of "The Mentor," a unique parable for financial advisors and those who aspire to become one. I have worked in the FA arena since 1997, and during that time, the New York State Society of CPAs twice awarded its prestigious Excellence in Financial Journalism award to me for a monthly column I wrote on business ethics. Previously, I reported on international news for Voice of America (where I was awarded a newsroom writing award) and prior to that worked as an editorial assistant at U.S. News and World Report. I live with my wife and children amidst the verdant and vibrant hills and dales of Jerusalem.

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Comments (5)

Sulltraining profile picture
I've had this conversation several times this week. So much of this is just like strength training. Do the squats, do the deadlifts, do the pressing. Eventually the strength and muscle will be there. But that doesn't sell. What sells are the flashy "pre-workout" supplements and fancy routines that promise "18 inch arms" in 12 weeks. But sometimes it takes a little sizzle to get to the meat. Always thought promoting, well-written, and thoughtful, Gil. Great work.
SA For FAs profile picture
You're right on. It's the small, but difficult everyday actions that matter most toward achieving our goals. That's true for all of us, no matter what our goals. Many thanks for your feedback.
Ronald Surz profile picture
Years ago I attended a presentation by Doug Love, a very smart investment consultant. In the middle of his presentation Doug went into a trance, focused on the ceiling, and muttered "You know, what sells doesn't work, and what works doesn't sell."

Marketing & sales are more important than quality & wisdom.
SA For FAs profile picture
Yep. That's the paradoxical way of the business world. But it doesn't exonerate us from doing what we're supposed to do.
Ronald Surz profile picture
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