What is asset location worth?
A 2017 Morgan Stanley report on asset location is one of the best I've seen
Morgan Stanley’s asset location research is some of the best I’ve seen
Tax-efficient asset location could yield up to 0.34% incremental annual return.
Footnote (4) in the graphic above mentions a 2017 paper that took me a while to track down: Tax Efficiency: Getting to What You Need By Keeping More of What You Earn (2022). The original was published in 2017. It was updated in 2020 and again in 2022. I’ve asked them for the latest. When it comes out, I’ll do a lengthier post.
Tom Idzorek and Paul Kaplan’s 2024 paper (it’s a book), Lifetime Financial Advice, is also excellent and worth a whole series of blog posts.
For now, here’s an updated asset location research tracker.
And also some thought leadership on asset location and estate planning. See the source for additional comments from the author. More on this another time.
