Planner, author and New York Times blogger Carl Richards, founder of Prasada Capital Management, has joined St. Louis-based BAM Advisor Services as its director of investor education.

“I’ve long admired BAM and Buckingham and what they do for their clients,” Richards said in a statement. “I’m excited to provide my clients with the same experience while being able to focus on my passion: educating people.”

The author of The Behavior Gap, contributor to National Public Radio’s Marketplace Money and Morningstar Advisor columnist is making the move to gain access to the scale and reach of BAM, according to BAM company spokesman R. C. Balaban.

“By joining BAM, he can write more and do more speaking,” Balaban said. “Right now trying to manage all the demands on his time from all of his speaking engagements and serving his clients is difficult.”
Prasada joins BAM’s sister firm, Buckingham Asset Management. Prasada’s clients will be served by Buckingham advisors. Terms of the deal were not disclosed.

“This is truly a win-win for everyone involved,” said BAM CEO Adam Birenbaum. “We are thrilled to welcome Carl to the team and are delighted to have another outstanding educator in our midst. Having educators like Carl, Larry Swedroe and Jared Kizer on board allows us to help more investors recognize the importance of having a well-designed strategy for achieving their financial goals.”

Based in St. Louis, The Buckingham Family of Financial Services includes Buckingham Asset Management, BAM Advisor Services and BAM Risk Management. The Buckingham Family is led by a team of 14 principals and manages or administers more than $14 billion in client assets. Prasada brings $30 million in AUM to the company. Richards will continue to be headquartered in Park City, Utah.

The BAM investment approach centers on a passive investment approach similar to the one advocated by Richards in his writing.

Ann Marsh writes for Financial Planning.

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