By Steve Conley, Founder of the Academy of Life Planning “In markets, as in life, what works in hindsight rarely works forever.” For seventy years, Modern Portfolio Theory (MPT) has defined how we think about diversification. It tells us that by combining assets with different volatilities and correlations, we can create an efficient frontier — … Continue reading Bitcoin Improves the Efficient Frontier Historically — But Not Reliably or Durably
Tag: investing
🌍 The Most Important Conversation You’ll Ever Have
Why the Future of Financial Planning Begins with the Soul Recently, a valued member of our community wrote to say that while he respected our work, he felt the Academy had “departed from holistic financial advice toward a more spiritual and altruistic purpose.” He wished us well but chose to step away, explaining that his … Continue reading 🌍 The Most Important Conversation You’ll Ever Have
Reframing Wealth: What Human Capital Teaches Us About Growth and Equality
In the pursuit of prosperity, policymakers have long debated the balance between growth and fairness. Yet a seminal study by Jean-Marie Viaene and Itzhak Zilcha — “Human Capital Formation, Income Inequality and Growth” (CESifo, 2001) — offers a powerful reminder: the true engine of both progress and equality is education, not capital. Their model, built … Continue reading Reframing Wealth: What Human Capital Teaches Us About Growth and Equality
💡 Budget Watch: What Rachel Reeves’ 100-Measure Budget Could Mean for You
The Chancellor, Rachel Reeves, is reportedly weighing over a hundred separate tax and spending measures as she prepares the 2025 Budget— the next UK Budget is confirmed for Wednesday 26 November 2025. With the Office for Budget Responsibility (OBR) warning of slower growth and tighter fiscal space, the government faces difficult choices about who pays, … Continue reading 💡 Budget Watch: What Rachel Reeves’ 100-Measure Budget Could Mean for You
💣 The Leverage Trap: Why Advice Consolidation Is the Next Financial Stability Risk
Replacing Extraction with Empowerment — Restoring Truth, Trust & Freedom in FinanceBy Steve Conley, Founder of the Academy of Life Planning (AoLP) & Get SAFE The Financial Conduct Authority has just sounded another quiet alarm. In a review published on 31 October 2025, the FCA warned that mounting debt, weak governance, and conflicted incentives within … Continue reading 💣 The Leverage Trap: Why Advice Consolidation Is the Next Financial Stability Risk
Retirement Decumulation: What to Consider When You’re Managing Your Own Finances
Understanding your options before you start drawing down your wealth Retirement isn’t just the end of work — it’s the beginning of a new financial rhythm.For those managing their own finances, the decumulation stage can be both liberating and daunting. You’ve built up your savings over decades — now the challenge is to turn that … Continue reading Retirement Decumulation: What to Consider When You’re Managing Your Own Finances
Human Capital Inequality and Life Expectancy: Lessons for Holistic Wealth Planners
“The true wealth of a nation lies not in its stock markets or its banks, but in the health, knowledge, and purpose of its people.” A 2008 study by Amparo Castelló-Climent and Rafael Doménech in The Economic Journal offers profound insights that every Holistic Wealth Planner should understand. Beneath its formal econometric modelling lies a … Continue reading Human Capital Inequality and Life Expectancy: Lessons for Holistic Wealth Planners
What Economists Teach Us About Human Capital — Lessons for Holistic Wealth Planners
“To reduce unduly expenditure on children may greatly lower their efficiency in after-life.” — Arthur Pigou, The Economics of Welfare (1928) Economists have long recognised that people—not money—are the true source of wealth. A recent academic study by Lucia Rizzica at University College London, Essays on the Economics of Human Capital, offers valuable lessons for … Continue reading What Economists Teach Us About Human Capital — Lessons for Holistic Wealth Planners
2026: The Extinction of Lifetime Cashflow Modeller Businesses
2026 will mark the end of an era for lifetime cashflow modelling software — and possibly for many advisers who depend on it. We’ve seen them all: Voyant, Timeline, Prestwood Truth, CashCalc — once considered cutting-edge tools for financial planning. These systems were designed to help advisers demonstrate value and justify asset-based fees by answering … Continue reading 2026: The Extinction of Lifetime Cashflow Modeller Businesses
The Battle for Trust: Why St. James’s Place Can’t Own What It Doesn’t Build
St. James’s Place has just declared itself “the clear home of trusted financial advice in the UK.”With record gross inflows of £5.7 billion and total funds under management surpassing £212 billion, few would dispute its financial strength. But we must ask a deeper question: does financial success equate to trust? At the Academy of Life … Continue reading The Battle for Trust: Why St. James’s Place Can’t Own What It Doesn’t Build
Academy of Life Planning 