When it comes to the concept of doing well by doing good, I immediately think of my favorite quote from Winston Churchill, who said: “We make a living by what we get, we make a life by what we give.”
Of course, how this is carried out will differ from person to person. For me, it requires a life balance between family, professional aspirations, and altruism—by helping those less fortunate than I.
In their book, “Conscious Capitalism,” authors John Mackey and Raj Sisodia identify four tenets that all good businesses must possess to succeed in the 21st century. Following is a list of my four tenets for success:
1. Help others always. Serving my clients is one way that I can do this. Consulting with one family at time, I pride myself on helping them make progress toward their financial goals.
2. Embrace your emotional intelligence. I would argue that mastering this approach includes having a heartfelt desire to help others succeed.
3. Educate yourself to be the as knowledgeable about your business as possible. Successfully helping my clients requires significant fiduciary experience, because it’s critical in my industry to help my clients make financial decisions based on what will be most profitable for them. Clients have varying expectations of working with a financial planner with respect to relationship depth, communication frequency, expertise, and ongoing guidance. Doing good for clients requires me to thoroughly understand their past experiences and baseline expectations so that I can exceed them.
4. Strive to be the best that you can be. To ensure I am consistently serving my clients to the best of my ability, I strive to be a resource and professional of value across communities. Volunteering in industry groups and other communities helps me stay connected. Being active outside work in professional and civic groups requires consistent eagerness and an inner desire to be the best.
Diving Deeper
Leaders who embrace Conscious Capitalism believe that business is good because it creates value, it is ethical because it is based on voluntary exchange, it is noble because it can elevate our existence, and it is heroic because it lifts people out of poverty and creates prosperity.
The search for meaningful work can be a lifelong journey full of opportunities and professional growth.
According to Yale Professor Amy Wrzesniewski, in her recent article in the Journal of Research in Personality, our work exists at three levels: job, career, and calling.
If it is a “just a job,” it is transactional; we work a certain number of hours per week in exchange for a pre-determined salary and employee benefits.
People with more ambitious professional aspirations tend to think of their work as a career because of the opportunity for advancement, both in terms of increased responsibility and financial compensation.
Work can also be considered a calling when we find it so meaningful to us that we derive value and satisfaction that surpasses the actual paycheck.
Bringing It Home
Financial planning is the process of meeting your life goals through the proper management of your financial resources. There is not a single segment of our lives that is not affected by financial planning.
The Bureau of Labor Statistics reports that employment of personal financial advisors is projected to grow 32 percent from 2010 to 2020, much faster than the average for all occupations.
Like me, many CFP® professionals share a passion for helping our clients plan to achieve their life financial goals. Financial planning is intellectually stimulating, emotionally gratifying, and financially rewarding—and it delivers positive societal impact to our community. I wholeheartedly believe that we are truly fortunate to have found our calling.
Personal financial planning is vital to meeting life goals, such as buying a home, paying for college or planning for a more secure retirement. Millions of Americans have pressing financial questions that need answers, but unfortunately, many have not had access to competent and ethical financial advice. In other words, the desire for financial stability transcends all cultural, societal, and wealth boundaries.
The Bottom Line
That is why I have so much respect for the work of the Foundation for Financial Planning. Its mission is to help people take control of their financial lives by connecting the financial planning community with people in need, and we achieve this by supporting pro bono advice and outreach activities.
As one planner said: “The work of the Foundation touches so many more people than each one of us could ever reach. The further and deeper the message of financial planning goes, the more people everywhere will make smarter financial decisions, and the better-off we will all be as a result.”
Serving clients in a financial planning capacity is special by its very nature, because our clients share intimate details of their financial and personal lives.
My conscious leadership crusade is to bring financial literacy to everyone I work with, and empower those I work with to make wise financial decisions that will benefit them in the long run. I hope to be able to do this for years to come.
Marguerita M. Cheng, CFP® is the CEO of Blue Ocean Global Wealth. She is a member of the CNBC FA Council and a contributor for Investopedia & Kiplinger. Marguerita is passionate about ensuring that her clients have clarity and confidence about planning for their financial future. As a Certified Financial Planner Board of Standards (CFP Board) Ambassador, Marguerita helps educate the public, policymakers, and media about the benefits of competent, ethical financial planning.
Marguerita’s mantra is “So many people spend their health to gain wealth, and then have to spend their wealth to regain their health” (A.J. Reb Materi).
Securities offered through Private Client Services, LLC. Member FINRA | SIPC. Advisory products and services offered through Blue Ocean Global Wealth, a registered investment advisor. Private Client Services, LLC and Blue Ocean Global Wealth are not affiliated entities.
Blue Ocean Global Wealth intends that this article will be viewed for informational purposes only. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.
Originally published at www.beinkandescent.com