{
  "id": 5567739,
  "title": "Goals Are the New Blueprint for Portfolio Construction",
  "url": "https://urgent.news/2026/09/03/goals-are-the-new-blueprint-for-portfolio-construction",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-03T04:02:00.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/stocks/articles/goals-blueprint-portfolio-construction-040200563.html"
  },
  "original_language": "en",
  "account": "It seems financial advisors are shifting their focus in portfolio construction. Rather than focusing on asset allocation, they are prioritizing the individual client's financial goals. Mayank Goradia, Fidelity's head of portfolio construction, explained that advisors are beginning with the investor's objectives and then determining the best combination of tools to help them reach those outcomes. This could involve emphasizing income, tax efficiency, risk management, growth, or wealth transfer.\n\nGoradia noted that advisors are marrying financial planning with portfolio construction. Advisors are seeing an increased emphasis on outcome allocation, which puts the client's goals at the forefront of the process. While asset allocation remains important, it should serve as the means to an end, not the objective itself. Scott Bishop, co-founder of Presidio Wealth Partners, emphasized that the real objective is to construct a portfolio that produces the income, growth, tax efficiency, liquidity, and risk profile required by the client's financial plan.\n\nBishop pointed out that advisors have remained relatively defensive this year, with average equity allocations staying above 70% and fixed income at 23%. However, advisors have increased their allocations to US equities and slightly reduced exposures to international stocks. They have also ramped up their allocations to active ETFs. Eliot Weissberg, president of the Investors Center, explained that the shift toward outcome-oriented strategies is taking place as advisors have largely resisted becoming more defensive this year. He likened the traditional target-date funds to the beginning of outcome-based investment, but stressed that advisors must now better manage how asset allocations should vary over time based on the client's circumstances.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}