Traditional asset allocation, particularly the widely accepted 60/40 model, is insufficient for addressing investors’ real-world needs, particularly in the context of longevity risk and market volatility. A more dynamic approach to portfolio construction is needed, incorporating risk factor diversification to account for tail risks, and objectives-based investing based on a Wealth Allocation Framework that segments portfolios into three distinct categories: capital preservation (stay rich), market participation (growth), and aspirational (high-risk, high-reward investments). Portfolios di...