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Evensky & Katz/Foldes Wealth Management
Harold Evensky's Coral Gables wealth manager pioneered fee-only fiduciary advice and institutional-style asset allocation for individual investors.
Evensky & Katz/Foldes Wealth Management
Harold Evensky founded the firm that would evolve into Evensky & Katz/Foldes Wealth Management, anchoring it in Coral Gables, Florida. He later brought in Deena Katz, a long-time collaborator and co-author, making the firm a two-name partnership before Robert Foldes joined the leadership group. The firm emerged from Evensky's early advocacy for fee-only financial planning and his work on investment policy committees for institutions. The firm manages portfolios using a research-driven approach, drawing on modern portfolio theory and behavioral finance. Its investment strategy typically spans equities, fixed income, and alternative assets, with allocations tailored to individual client risk profiles rather than model portfolios sold as-is. Evensky co-authored The New Wealth Management, a text that codified the firm's approach to goals-based asset allocation and risk capacity analysis. The practice serves high-net-worth individuals and families, primarily across South Florida and the broader United States. Deena Katz, after years as a principal, transitioned to academia at Texas Tech University's Personal Financial Planning program, one of the most prominent in the country, while maintaining ties to the firm. Robert Foldes assumed greater operational leadership as the firm continued to manage client assets and refine its investment process. The firm has historically maintained a lean structure, with a small team of advisors supported by research associates, rather than pursuing an aggregation strategy. Evensky & Katz/Foldes occupies a distinct place as a practitioner-founded, academically-adjacent wealth manager — rare in an industry where most firms either sell proprietary products or operate as pure RIA consolidators. The direct line between Evensky's published research and the firm's client portfolios creates a feedback loop between scholarship and practice that few competitors replicate. The firm's succession has been gradual, with named principals retaining long-term involvement rather than selling to a private equity-backed roll-up.
General information
Firm type
Bank / Wealth / Trust
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Coral Gables
Corporate office
Coral Gables, FL, United States
Principals
Harold Evensky
Chairman
Deena Katz
Associate Professor, Texas Tech University; former Chair of Evensky & Katz
Robert Foldes
Principal
Sector focus
Frequently asked questions
What is Harold Evensky's role at the firm now?
Harold Evensky serves as Chairman of Evensky & Katz/Foldes Wealth Management. He is widely recognized as one of the pioneers of the financial planning profession, having been an early advocate for fee-only fiduciary advisory models. He has authored several influential books and was a founding member of the profession's academic and regulatory framework. His current involvement centers on investment policy oversight rather than day-to-day client management.
How does the firm charge for its services?
Evensky & Katz/Foldes operates on a fee-only basis, meaning it does not accept commissions or revenue-sharing from financial product providers. This structure was central to Harold Evensky's philosophy when he built the practice, separating it from the commission-based brokerage model that dominated the industry for decades. The fee-only structure is designed to align the firm's incentives with client outcomes rather than product sales.
Does the firm manage assets in-house or outsource to third parties?
Evensky & Katz/Foldes constructs and manages client portfolios in-house, drawing on the principals' published research in asset allocation and behavioral finance. The firm uses institutional funds and ETFs as building blocks rather than creating proprietary products. This approach allows it to maintain a low-cost, transparent investment structure while applying its own strategic and tactical asset allocation decisions across client accounts.
Who runs investment decisions at the firm?
Investment policy and asset allocation decisions are historically guided by Harold Evensky and the firm's investment committee. Evensky's published work on asset allocation, tax-efficient investing, and retirement income planning forms the intellectual foundation of the firm's investment process. Day-to-day portfolio management and client relationship management is handled by the firm's team of advisors.
What is the relationship between the firm and Texas Tech University?
Deena Katz, a named principal of Evensky & Katz/Foldes, serves as an Associate Professor in the Personal Financial Planning program at Texas Tech University, a top-ranked program in the field. The connection provides the firm with access to academic research and emerging talent in financial planning, creating an unusual bridge between practice and pedagogy. Harold Evensky has also been involved as a lecturer and contributor to academic conferences.
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