Harold Evensky, co-author of "The New Wealth Management," discusses the latest edition of his book and offers some advice for how advisers and clients can adjust to changes in the investment landscape. Clients' portfolios should be designed for lower returns on average than in previous decades, Evensky said. He also said investors should also take a second look at the benefits offered by fixed-immediate annuities and longevity insurance. As for advisers, it's as important as ever to act as fiduciaries, Evensky said.

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