Harold Evensky: 'It's an Unmitigated Disaster'

<p>This week's guest on <em>The Long View</em> is financial advisor Harold Evensky, who Morningstar managing director Don Phillips has often called the "dean of financial planning."</p> <p>Evensky is chairman of Evensky & Katz/Foldes Financial, and he's a retired professor of personal financial planning at Texas Tech University. Evensky has been extremely active in the planning community during his career. He's the past chairman of the International CFP Council, the CFP Board of Directors, the CFP Council on Examinations, and the Board of Appeals. Evensky is a frequent public speaker and has authored several books, including <em>The New Wealth Management. </em>During the course of this conversation, he weighed in on the SEC's newly approved Regulation Best Interest, calling it an "unmitigated disaster." He also discussed asset allocation leading up to and in retirement, his firm's application of a core/satellite approach, and different business models for financial advice. </p> <p><strong>Show Notes and References</strong></p> <p><strong>Background (0:18-0:57)</strong><br /> • <a href="https://en.wikipedia.org/wiki/Harold_Evensky#Biography" target="_blank">Harold Evensky bio</a> <br /> • <a href="https://www.evensky.com/Membership/Apps/v4Evensky_WF_App.aspx?ReturnURL=%2f#!/w/v4evenskywfapp?s=v4grayhomepageeholderapp" target="_blank">Evensky & Katz/Foldes Financial</a> <br /> • <a href="http://www.depts.ttu.edu/hs/pfp/" target="_blank">Personal Financial Planning Department, Texas Tech University</a> <br /> • <a href="https://www.fpsb.org/about/fpsb-council/" target="_blank">Financial Planning Standards Board Council</a> (formerly known as "International CFP Council") <br /> • <a href="https://www.cfp.net/about-cfp-board/governance/board-of-directors" target="_blank">CFP Board of Directors</a> (formerly "Board of Governors") <br /> • <a href="https://www.cfp.net/about-cfp-board/volunteers/volunteer-opportunities/council-on-examinations" target="_blank">CFP Council on Examinations</a> (formerly "Board of Examiners"