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P. Kemp Fain Jr. Award Media

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The above is a tribute video that was shown at the ceremony where Dr. Dave Yeske received the P. Kemp Fain, Jr. Award, the financial planning profession’s highest honor.

Market Perspectives

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The Biggest Stock Market Trade of the Year May Be At a Tipping Point

Dave spoke with Jeff Brown, special to CNBC.com on the topic of foreign stocks:

“Dave Yeske, managing director of financial advisory firm Yeske Buie, said he has always been “geographically neutral,” which has resulted in allocations that are roughly half U.S. and half overseas — and roughly 11 percent emerging markets, specifically, right now.”

“Yeske said his firm sticks with its target allocations over time and lets the markets tell it when a market is expensive or cheap through rebalancing. ‘We’re making all of our adjustments at the margin, never making big bets,’ he said.”

” Yeske [said] most U.S. investors should be putting more money into foreign stocks, with an added focus now on value stocks, which have ‘vastly underperformed’ growth stocks.”

Dave spoke with Andrew Osterland of CNBC on the growing popularity of ETFs:

“‘The proportion of advisors using ETFs more than doubled in the last decade,’ said David Yeske, head of registered investment advisor Yeske Buie and practitioner editor of the FPA’s Journal of Financial Planning. ‘ETFs now represent the biggest investment category for advisors.’ The reasons are simple enough: low costs and broad diversification.”

“Advisors have been slower to make use of passively managed index funds in the bond market than they have in equities, but that is now changing. Many still feel that riskier sectors such as municipal and high-yield bonds still require an active hand, but in the Treasury and investment-grade markets, ETFs are rapidly gaining market share. ‘In a market with lower returns, lower expenses are all the more important,’ said Yeske at Yeske Buie.”

The Financial Planning Profession

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The Journal of Financial Planning

10 Questions: Dave Yeske on Evidence-Based Financial Planning, an Evolving Profession, and the Role of Science

Live Big with Dr. Dave Yeske

Dave joined Hannah Moore for the recorded podcast series titled “You’re a Financial Planner; Now What?” where he shared insights on:

• The why and how of staying passionate about financial planning.
• The importance of finding your tribe.
• The background of Dave’s research in Evidence-Based Financial Planning.
• How financial planning does not simply involve the “art and science,” but how it’s the artful application of science in all areas, including the “interior” side of planning.
• Where Dave sees the financial planning profession growing when we finally have the confidence in what we bring to the table.
• How the big problems facing our profession can only be solved together.
• Why “Live Big” is the tagline of Dave’s financial planning firm.

The Distinction Between Financial Advisors and Financial Planning

Industry icon Dave Yeske talks about the challenges and opportunities facing the financial advice profession.

“I think we have to have a bright white line between financial planning and financial advice. As my partner Elissa Buie likes to say, ‘Financial planning is magical. Financial advice is nice; financial advice is useful.’ The reality is that there is a lot of financial advice that is masqueraded as financial planning and the public can’t tell the difference and the difference matters. Financial planning is contextual, and it’s comprehensive, and it’s integrated, and it’s strategic. Financial advice is more transnational, ask and answer.”

Dr. Dave Yeske

The Evolution of Financial Planning