Understanding Change. Identifying Opportunity.
Explore the disruptive forces reshaping industries and economies through the lens of investing, with insights designed to help advisors navigate what comes next. Select sessions offer CE credits.
Build a Better Path Series
Your Clients' Portfolio May Be Built for a Market That No Longer Exists.
Build a Better Path is AB’s perspective on how advisors can navigate a market environment where traditional drivers of returns are evolving. Through webcasts, insights, and practical frameworks, it focuses on improving outcomes by managing risk, the timing of returns, and long-term sustainability
Why the Path Matters More Than the Destination
Start Here: Watch Part One
Build a Better Path, Part One: What's Past is Prologue
Watch Next: Expert Perspective
When “Stay the Course” Isn’t Enough: Helping Clients Understand the Path Ahead
Continue: Watch Part Two
Build a Better Path, Part One: What's Past is Prologue
THE ADVISOR CHALLENGE
The Rules of Portfolio Construction Just Changed. Most Portfolios Haven’t.
For 40 years, advisors relied on diversification and compounding, supported by favorable economic conditions. That era is over.
Now, clients face challenges where return timing is crucial, early setbacks can derail long-term plans, and traditional diversification is less protective.
The question isn’t whether to rebuild. It’s how.
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Return Expectations Are Shifting
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Timing of Losses Matter
- Return Expectations Are Shifting
- Timing of Losses Matter
Retiring in 1981 vs. 1991 vs. 2001
It clearly shows return compression (10.3% to 9.0% to 6.5%) Retirement starting points have produced meaningfully different 60/40 outcomes—highlighting that return environments haven’t been uniform over time
Historical analysis and current forecasts do not guarantee future results.
Hypothetical 60/40 portfolio: 60% S&P 500 Total Return, 40% US Aggregate Bond Index
Through July 31, 2025. Source: Bloomberg and AB
The Risk/Return Trade-Off Is More Important than Ever
Experiencing a major drawdown earlier in retirement may have a greater impact on portfolio sustainability than the same drawdown occurring later.
Past performance does not guarantee future results. This is a hypothetical
illustration only. “Actual 60/40 Portfolio” represented by 60% S&P 500/40%Bloomberg Barclays US Aggregate. “Hypothetical Early Loss” portfolio swaps 1990 and 2008 monthly returns to simulate experiencing sharp drawdown early in retirement. Both portfolios incur monthly withdrawals of US$7,000.
Source: Morningstar Direct and AB
Insights
In the first of a two-part episode, market history yields insights on how to navigate uncertainty.
How mastering the pivot point can take capital markets commentary from informative to motivating
To pursue a better return path, think better betas, efficient structure and targeted alpha.
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