Centralized Financial Advice and Competition for Capital
Centralized model portfolios buffer fund flows but weaken incentives for active management, reducing performance persistence and dampening rewards for outperformance.
Featured in No. 139 on 13 Nov 2026 · 4 days after release
- Released
- 9 Nov 2026
- First featured
- No. 139 · 13 Nov 2026
- Published in
- Not yet, as far as Semantic Scholar knows
- Fanfare
- 3 of 5
- Identifier
- SSRN 7681563
- Authors
- Pietro Lazzaretto
Citations and venue from Semantic Scholar (ODC-BY), refreshed weekly. Summary: Quant Letter (CC BY 4.0).