Financial Advisor Success Ep 116: Building A Consumer Media And Author Presence To Gain Credibility As A 'Small' Independent Advisor with Harold Evensky
Mar 19, 2019
Harold Evensky, co-founder and chairman of Evensky & Katz Foldes Financial, is a financial planning pioneer with decades in goals-based wealth management. He shares insights from the early days of starting an RIA and competing against mega wirehouses. The discussion covers his innovative marketing strategies, including seminars and media engagement to build credibility. He reflects on the evolution of the industry, the importance of education, and how financial planning can gain public recognition as a profession. Evensky also talks about creating the CFP exam and his thoughts on fiduciary responsibilities.
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Writing Forces Clarity
- Writing clarifies thinking and helps build professional credibility.
- Harold authored Wealth Management to formalize an approach and educate the field.
Behavior Trumps Pure Efficiency
- Behavioral strategies (buckets) can beat pure efficiency by keeping clients invested during crashes.
- Carving short-term reserves reduces panic and preserves long-term plans despite opportunity cost.
Implement Core-Satellite Portfolios
- Use core-satellite allocations to reduce tax and expense drag and improve net returns.
- Shift more of the core to tax-efficient passive exposures and use satellites for active outperformance.
