The Investment World According to Harold Evensky

The opening paragraph of this article was modified on October 11, 2018, to indicate that Evensky is retiring from teaching but will remain active in his practice.

I had the bittersweet privilege of attending Harold Evensky’s final presentation on investing. Evensky, who is by far the most decorated member of the advisory industry, is retiring from teaching and has no current plans for public talks. He remains actively involved in his practice, serving on both the investment and management committees and does not plan on retiring from business for many years.

Evensky spoke on September 26 at Bob Veres’ Insiders Forum conference in San Diego.

Nominally, Evensky is the founder of the Florida-based registered investment advisor, Evensky, Foldes and Katz.

But he is much more than that.

As Veres noted in his introduction, the advisory industry is divided by two eras: pre-Harold and post-Harold. The pre-Harold era, which most of today’s practitioners would barely recognize, was characterized by planning practices that relied on now-obsolete rules of thumb and seat-of-the-pants instincts that lead to inferior outcomes for clients.

Evensky changed that.

Early in his career, Evensky delved deeply into the academic literature to identify what makes sense to practitioners. The post-Harold era builds upon that approach. Evensky is singularly responsible for driving the paradigm of research-based and carefully tested planning practices.