Roger Urwin: What a Total Portfolio Approach Looks Like in Practice

About this episode

Roger Urwin discusses the practical implementation of a total portfolio approach in investment organizations.

What does a total portfolio approach look like inside an investment organization? Roger Urwin, Global Head of Investment Content at Willis Towers Watson, describes how TPA functions in practice, from new roles like the Chief Total Portfolio Officer to the governance structures, data, and decision frameworks that shape portfolio-wide thinking. Speaking with Mona Naqvi, Managing Director of Research, Advocacy, and Standards at CFA Institute, he discusses the guardrails that support disciplined decision-making, the skills and mindsets required to operate across silos, and why resilience, foresight, and systems thinking are becoming core investment competencies. Listen to the episode to understand how asset owners are applying a total portfolio lens in real-world investment organizations. 00:00 – The Evolution of Total Portfolio Approach (TPA) in 2025 01:56 – Crossing the Chasm: TPA Moves Into Mainstream Institutional Investing 07:06 – What Is Top-Down Total Portfolio Approach (Level 3 TPA)? 10:50 – CIO vs. Chief Total Portfolio Officer: Rethinking Portfolio Leadership 19:05 – Dynamic Asset Allocation: How TPA Changes Investment Decisions 26:42 – Governance, Risk Guardrails &…

People in this episode

Host: Mona Naqvi

Guest: Roger Urwin

Topics covered

• Total Portfolio Approach
• Investment Governance
• Dynamic Asset Allocation
• Portfolio Leadership
• Investment Skills
• Systems Thinking

Keywords

• Total Portfolio Approach
• Chief Total Portfolio Officer
• Dynamic Asset Allocation
• Governance Structures
• Investment Competencies
• Systems Thinking
• Resilience
• Foresight

Mentioned in this episode

Organizations: Willis Towers Watson, CFA Institute

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