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Retail Investors Miss Institutional Asset-Liability Matching Due to Fee Incentives

As Adam notes, it's interesting that big pensions, banks and insurance companies meticulously manage their portfolios using asset-liability matching process. Meanwhile, retail investors get style and factor investing shoved down their throat in exchange for high fees. Why aren't asset-liability matching and financial planning based investment strategies the most prominent approaches provided for retail investors and financial advisors? Hint: because it's not as lucrative as selling performance for fees.