JERSEY CITY, N.J.--(BUSINESS WIRE)--As independent registered investment advisors (RIAs) gain share and attract new clients, they face a multitude of headwinds: increased competition, shifting regulation and demographic shifts in the investor marketplace. More than ever, RIAs need leaders who can elevate the profession, build bridges to the next generation and fight for a level playing field in Washington.
In that spirit, TD Ameritrade Institutional1 created the TD Ameritrade Advocacy Leadership Award to recognize individuals who have made outstanding contributions to advance the long-term viability, vibrancy and growth of fiduciary investment advice and the RIAs who provide it.
TD Ameritrade Institutional presented the inaugural award to Harold Evensky, CFP®, AIF®, chairman of Evensky & Katz / Foldes Financial, and prolific author, public speaker and educator to generations of RIAs seeking how to build better fee-only financial planning firms. Evensky received the award in Washington on November 10th, at TD Ameritrade Institutional’s 4th Advocacy Leadership Summit.
"We decided it was time to recognize the most vocal and tireless champions of fiduciary investment advice. Harold exemplifies the power that one, dedicated voice can have in rallying an industry to move forward - his prolific body of work makes him a natural as our inaugural award winner," said Skip Schweiss, managing director of Advisor Advocacy and Industry Affairs for TD Ameritrade Institutional. "TD Ameritrade remains committed to advancing the profession for independent advisors and investors, and we hope that others are as inspired as we are by Harold's passion for supporting the RIA industry through financial planning, investment advice, writing and teaching."
"Educating consumers and the financial planning industry about the virtues of independent, fee-only financial advice has been my life's work," said Evensky. "I thank you for this recognition, and I challenge my fellow financial planners to do everything they can to ensure that the next generation knows more about our profession."
Engineer, Advisor and Educator
In 1986, the future "Dean of Financial Planning" was an engineer-turned-financial planner, founding the firm that would eventually become Evensky & Katz / Foldes Financial. An early convert to the fee-only investment model, Harold Evensky's success in wealth management translated into a passion for teaching and encouraging other advisors to share their expertise.
Evensky has spent more than 30 years speaking, writing and serving on industry boards to help independent fee-based advisors expand their firms and advance the profession. His firm pioneered the Cash Flow bucket strategy and the Core & Satellite investment strategy, using passive management for "Core" positions and a blend of passive and active management for opportunity-driven Satellite positions.
In addition to contributing to publications such as Financial Advisor and Journal of Financial Planning, he is the author of The New Wealth Management and Hello Harold and is co-author of Retirement Income Redesigned and The Investment Think Tank.
His efforts and impact on the industry have not gone unnoticed. He has received IMCA’s J. Richard Joyner Wealth Management Impact Award, 2017; the Insider's Forum Leadership Award, 2014; Charles Schwab Trailblazer IMPACT Award®, 2013; and also the Financial Planning Association's Heart of Financial Planning Award in 2013 together with his business partner and wife, Deena Katz. He was named Investment Advisor’s IA 35 in 2015, and one of InvestmentNews’ “15 transformational advisers” in 2013.
Today, in addition to serving as chairman of Evensky & Katz / Foldes Financial, Evensky is a Professor of Practice at Texas Tech University in Lubbock, Texas, where he teaches graduate-level courses on behavioral finance and wealth management.
Doubling Down on Advocacy Leadership
TD Ameritrade's commitment to promoting the RIA industry and helping independent advisors build better businesses goes back 25 years. For well over a decade, TD Ameritrade Institutional has been a vocal champion of the RIA model and has amplified the collective voice of RIAs in Washington on policy issues that matter to them. This includes fighting for the fiduciary standard of care that requires advisors to put the interests of their clients first.
TD Ameritrade Institutional expanded its definition of RIA advocacy this year to include efforts to support the long-term sustainability of the profession. In naming Kate Healy its first managing director of Generation Next, the firm established a full-time executive position dedicated to expanding its programs and resources to help RIAs attract and retain next generation talent, including women and minorities.
The firm's active commitment led to its Advocacy Leadership Summit, a unique event that brings together industry influencers, RIAs, educators and financial planning students to focus on finding common ground on key regulatory and sustainability issues. This year's Summit, led by TD Ameritrade Institutional President Tom Nally, Schweiss and Healy, featured Rick Fleming, the first Investor Advocate for the U.S. Securities and Exchange Commission, and The Honorable Phyllis Borzi, former Assistant Secretary of Labor of the Employee Benefits Security Administration.
"RIAs have been putting the interests of investors first since 1940. We need to speak with one voice to ensure the industry continues to thrive and care for its clients for decades to come," said Schweiss. "The drive for sustainability also means fostering greater diversity in the profession so the industry better reflects the changing makeup of the investors we serve, and building a stronger pipeline for next generation talent."
About TD Ameritrade Institutional
TD Ameritrade Institutional is a leading provider of comprehensive brokerage and custody services to more than 5,000 fee-based, independent RIAs and their clients. Our advanced technology platform, coupled with personal support from our dedicated service teams, allows investment advisors to run their practices more efficiently and effectively while optimizing time with clients. TD Ameritrade Institutional is a division of TD Ameritrade, Inc., a brokerage subsidiary of TD Ameritrade Holding Corporation.
About TD Ameritrade Holding Corporation
Millions of investors and independent registered investment advisors turn to TD Ameritrade’s (NASDAQ: AMTD) technology, people and education resources to help make investing and trading easier. Online or over the phone. In a branch or with an independent RIA. First-timer or sophisticated trader. Our clients want to take control, and we help them decide how - bringing Wall Street to Main Street for more than 40 years. TD Ameritrade has time and again been recognized as a leader in investment services. Visit our newsroom or amtd.com for more information.
Brokerage services provided by TD Ameritrade, Inc., member FINRA / SIPC
Evensky & Katz / Foldes Financial and other third parties are separate from and not affiliated with TD Ameritrade, which is not responsible for their services or policies.
1 TD Ameritrade Institutional is a division of TD Ameritrade, Inc., a brokerage subsidiary of TD Ameritrade Holding Corporation
Source: TD Ameritrade Holding Corporation