Structured Products Insights - Episode 19 - Goal First, Product Second

Most advisors pick the product first and fit it to the client later. Tiago Fernandes spent fifteen years watching what goes wrong, and then spent the following few years building a framework to fix it. In this episode, Andrew Fox sits down with Tiago, author of The Next Generation of Portfolio Management, to unpack what 370,000 structured products invested by US investors over a decade actually reveal about how these instruments perform, when they belong in a portfolio, and when they don't. They cover the Goal Hierarchy Model that underpins Tiago's framework, why loss aversion makes structured products uniquely well-suited to certain investors, how liquidity works across investment buckets, and what the data says about payoff performance versus expectations. Whether you're an advisor trying to explain structured products to clients or an investor wondering where they fit in your portfolio, this episode gives you both the evidence and the practical framework to make better decisions. The Next Generation of Portfolio Management is available on Amazon.