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Investment management is justified as an industry only to the extent that it can demonstrate a capacity of adding value through the design of dedicated meaningful liability-driven or goal-driven investment solutions, as opposed to one-size-fits-all investment products. Some dramatic changes with respect to existing investment practices are needed to facilitate the development of such meaningful retirement solutions, including the need to design investment portfolios that are functions of the kinds of particular risks to which the investor is exposed, or needs to be exposed fulfill goals. The move towards investment solutions has been greatly facilitated by profound driving forces such as the emergence of liability-driven investing strategies in institutional money management and goal-based investing strategies in individual money management. The focus is to move away from a market-centric perspective towards an investor-centric perspective
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