Carl Richards may be best-known for his regular writing at the New York TimesBucks Blog, Daily Worth, and his own Behavior Gap newsletter. But Richard’s (other) day job is running his investment advisory firm Prasada Capital.
Partly because he writes a lot about financial matters, and partly because he just gets the question all the time, Richards has thought a lot about how to find a great financial advisor. He defines a good advisor as someone who will really help clients meet their goals. “My standard is where would I send my mom,” he explains. His term for them, the “Secret Society of Real Financial Planners,” acknowledges that these people are not easy to find. Though he knows planners “having a really positive impact” he also acknowledges that for every good egg, there are probably 10 you’d be better off avoiding. (Video of the full interview with Richards is below.) Continue reading →
It’s a question financial experts get all the time: how should I chose an investment advisor?
The number of people offering some form of financial advice is growing fast. According to Smart Money, “the ranks financial planners, college aid advisers, mortgage brokers and more are expected to increase by 30% by 2018, to 271,200” per the Bureau of Labor Statistics.
Obviously some of those 271,000 people will be better than others. So how do you find the right advisor? Continue reading →
Well it’s that time of year again. That moment when we promise to start afresh and finally do the things we ought to do.
Grab that momentum/optimism/guilt and start your financial year on good footing.
To help, we reached out to some of the experts who’ve shared their insights with Portfolioist in 2010 and asked them a simple question: What would be the very best New Year’s resolution an investor could make moving into 2011? Continue reading →
Carl Richards has a few thoughts on how we might get around some of our own bad money habits, and he shared them in the video discussion below. A student of behavioral finance, Richards combines that interest with the practical experience of working as a financial advisor in Park City, Utah, where he sees plenty of these concepts playing themselves out in all the wrong ways in his work at Prasada Capital Management. Continue reading →