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Dr. Moshe A. Milevsky, Ph.D. is a tenured Professor at York University in Toronto and the Executive Director of The IFID Centre. He is also a Fellow of the Fields Institute for Research in Mathematical Sciences and has lectured at Universities in the U.S., Europe, South America and Asia. He has consulted for global pension funds and insurance companies and is currently a member of a number of corporate advisory councils.

Dr. Milevsky has published five books and over 50 peer-reviewed articles on the topics of insurance, investments, pensions and annuities. He received two National Magazine (Canada) awards in 2003 and received a Graham and Dodd scroll award for a 2006 article in the Financial Analysts Journal. His most recent book entitled: “Are You a Stock or a Bond?: Create Your Own Pension Plan for a Secure Financial Future” was published by the Financial Times/Pearson Education press in 2008.

Moshe was born in Toronto, but grew up in Latin America, the U.S. and the Middle East, and thus brings a unique multicultural perspective to his research and presentations. Moshe currently lives in Toronto with his wife Edna and four daughters, Dahlia, Natalie, Maya and Zoe.

Presentations Include:

How to Avoid Outliving Your Money
This presentation discusses structuring an investment portfolio to maximize the chances of having enough to consume for the rest of one's natural life. Individuals, especially females in their 50's, 60's, and 70's, should have a large portion of their investments in equity, instead of fixed income products. These (counter intuitive) results are backed up with solid academic research and presented in a non-technical and very intuitive fashion.

Is Your Client a Stock or a Bond? Taking Asset Allocation to the Next Level
True asset allocation is about locating investments that fit with your client's job characteristics and human capital. This presentation develops a broader perspective on wealth management issues.

Optimal Asset Allocation Within & Without Payout Annuities
Dr Milevsky presents a model of optimal asset allocation between conventional financial assets and payout annuity products. In addition, I address the optimal time to annuitize accumulated pension savings into irreversible life-annuities. The focus is on providing practical normative guidance in an intuitive, comprehensible and practical manner. These issues are particularly relevant given the recent large-scale conversions between traditional Defined Benefit plans to individually-managed Defined Contribution plans. Retirees and participants will have to decide whether or not to annuitize, and what assets to place within those payout products. I will also argue that the (currently observed) minuscule rates of voluntary annuitization can be significantly increased by presenting these products within a strategic risk and return 'portfolio' framework.

The Three Keys to APPLIED Risk Management in Retirement
This lecture covers the essential ingredients of prudent personal financial risk management during retirement. Asset Allocation, Put Protection, Longevity Insurance and Education are the three most important factors for increasing the probability your portfolio is sustainable. It also addresses the role of annuities and other insurance products in the optimal retirement portfolio.

Wealth and Risk Management over the Human Life-cycle: YOU Inc.
If the financial planning profession is destined to become the equivalent of personal wealth physicians, then planners will have to expand the definition of their clients' investment portfolios in order to integrate the allocation and risk characteristics of their human capital. Inspired by a broader vision of wealth, this presentation will discuss how modern portfolio theory and practice can be implemented by professional advisors to manage financial risk over the entire human life-cycle by focusing on the economic balance sheet of YOU Inc.



 

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