Tag Archives: Daily Worth

How to Pick an Investment Advisor (Part 3): Carl Richards’ 3 Key Questions

Carl Richards may be best-known for his regular writing at the New York Times Bucks 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