Wealth management - Investments in non financial assets. Technical and organizational aspects

Andrea Lippi ()
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Andrea Lippi: DISCE, Università Cattolica

No dises0850, DISCE - Quaderni del Dipartimento di Scienze Economiche e Sociali from Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE)

Abstract: In recent years private customers have shown a growing interest in investing in non-financial assets such as physical gold, real estate properties, artworks, diamonds and wine. Consequently, two new analysis perspectives became available for scholars' to examine - one within the sphere of portfolio theory, the other related to organizational studies. This study aims at: a) examining the existing correlations between traditional asset class (stocks, bonds and liquidity) and non-financial assets; b) showing the results of a survey based on a questionnaire submitted to a wide range of private banks operating in Italy, aimed at verifying the strategic value of this new business field and the related organization changes; c)examining the sub-advisory organization models which, in our opinion, are more adequate for this new business - therefore, they should be adopted by those operating in this sector in order to offer an excellent non-financial investment service to their clients.

Keywords: wealth management; private banking; non financial assets (search for similar items in EconPapers)
JEL-codes: G00 G11 L20 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2008-07
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Published in Review of Economics, Month aaaa, pages nn1-nn2

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