Nobel laureate Richard Thaler accepts advisory role at Pimco

Nobel laureate Richard Thaler accepts advisory role at Pimco
Mr. Thaler will research decision-making around retirement saving.
MAY 09, 2019

Pacific Investment Management Co. added Nobel laureate Richard Thaler as a senior adviser on retirement and behavioral economics. Mr. Thaler will research decision-making around retirement saving, Pimco said in a release on Thursday. The Newport Beach, California-based firm will use his expertise in designing products and services for clients who are preparing for life after work. (More:​ Richard Thaler wants to use 401(k)s to boost Social Security payments) A professor of economics at the University of Chicago Booth School of Business, Mr. Thaler won the Nobel Prize in Economic Sciences in 2017 for his work on how human traits govern individual economic decisions and affect broader markets. Last year, Pimco announced it would partner with Chicago's business school to support research into behavioral science. Read more about the partnership here.

Latest News

Fintech bytes: Envestnet reaffirms $1B RIA commitment with Tamarac tech investment
Fintech bytes: Envestnet reaffirms $1B RIA commitment with Tamarac tech investment

Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.

RIA moves: Maridea acquires multigenerational practice in Pennsylvania debut
RIA moves: Maridea acquires multigenerational practice in Pennsylvania debut

Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.

Private equity eyes 401(k) plans, but fees remain a hurdle
Private equity eyes 401(k) plans, but fees remain a hurdle

Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.

IRS floats proposal ending tax breaks for schools that weigh race
IRS floats proposal ending tax breaks for schools that weigh race

Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.

Trust over tech: The hidden signal of stock success in the AI era
Trust over tech: The hidden signal of stock success in the AI era

Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income