This monograph explores central issues surrounding the use of tax-deferred investment accounts as a means of accumulating wealth and presents a useful framework, grounded in basic time-value-of-money concepts, that can be readily implemented by investment professionals (U.S. as well as non-U.S. based) in various tax environments (current as well as future).
Dr. Horan leads the university relations team for CFA Institute, developing partnerships with the world's leading universities and engaging students through the Global Investment Research Challenge. His area of specialization is private wealth management, and he leads content development for CFA Institute members in that area. Prior to joining CFA Institute, he was a principal of Alesco Advisors LLC, a financial analyst in private practice providing expert witness testimony in securities litigation, a forensic economist preparing economic impact studies, and a professor of finance at St. Bonaventure University.
Dr. Horan has authored several books, including The New Wealth Management: A Financial Advisor's Guide to Managing and Investing Client Assets and four editions of the Forbes/CFA Institute Investment Course, a comprehensive guide to personal investing and wealth management. He has edited the volume Private Wealth: Wealth Management in Practice and is author of numerous articles in leading peer-reviewed journals, such as the Financial Analysts Journal, Journal of Financial Research, Journal of Wealth Management, and Financial Services Review. Dr. Horan has received numerous research grants, published two monographs commissioned by the Research Foundation of CFA Institute, and written for the CFA Program curriculum. His award-winning research has been profiled in leading practitioner publications, including CFA Digest and Barron's, as well as the popular press, including the Chicago Tribune and Baltimore Sun. He is a frequent columnist in the Financial Times and is frequently cited in the media, including publications such as The Wall Street Journal, CNBC, Investment News, Money Magazine, and The South China Morning Post.
Dr. Horan serves as associate editor for the Financial Services Review and on the advisory board of the Journal of Wealth Management. He has also served CFA Institute as both associate editor and abstractor for CFA Digest, and ad-hoc reviewer for the Financial Analysts Journal. Dr. Horan earned a BBA in finance with a minor in mathematics from St. Bonaventure University and a PhD in finance with a minor in economics from State University of New York at Buffalo.
