Correcting the Advisor-Client Disconnect Over the Definition of Risk

When advisors say the word “risk,” they are most often thinking of the technical definition. When clients hear the word “risk,” they tend to think of the chances they’ll run out of money or fail to meet an important goal. Carl Richards on the need to erase this disconnect, because it can affect a client’s decisions.

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Carl Richards

Director of Investor Education

Carl Richards is the creator of the weekly Sketch Guy column in The New York Times and is a columnist for Morningstar Advisor. He has also been featured in The Wall Street Journal, Financial Planning, Marketplace Money, The Leonard Lopate Show, Oprah.com and Forbes.com. His simple but meaningful sketches served as the foundation for his first book, “The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money.”

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