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There is a FREE guide that we’ve put together for listeners of the Podcast which summarizes the points on this podcast episode. You can get your free guide by going to TheLifeGroup.org/5Things to get yours.
When it comes to investing, there are those who feel confident enough to do it themselves. They feel that they know what they are doing and don’t need an “expert” to help guide them in the process. The danger is that you just don’t know what you don’t know.
In our experience, many people feel extremely competent in many areas but finance and investing are not one of those areas. Good financial advisors guide their clients in putting together a long-term financial plan that would meet their needs, and Lord willing, allow them to see growth to provide for and protect their family. Seeking the advice and counsel from an expert in finances is part of being a good steward of the resources that the Lord has put into their hands.
Have you ever thought of what to look for when you hire a financial advisor to assist you in your stewardship? What would be the essential qualities and characteristics that should be researched and embedded in this one that will guide you in stewarding the resources that God has put into your care?
There are 5 Things Every Christian Should Look for in a Financial Advisor. To see a more detailed overview of the 5 Things, click here to access a free download, or tune in to this podcast episode.
- Christian
A believer who shares your convictions. Your wealth has been entrusted to you by God. It’s HIS wealth for which you are caring. Consider Psalm 1:1 “Blessed is the man who walks not in the counsel of the wicked.” Hire a Christian advisor who prays for you and seeks Biblical wisdom in the stewardship of God’s wealth.
- Credentials
For example: CFP®, CKA®. Not all Financial Advisors understand how Estate, Tax, and Retirement planning work together to help you care for your family today and after the Lord calls you home. Earning a designation such as the CFP®, or Certified Financial Planner™, demonstrates that your advisor has been trained to handle complex needs. There are great advisors who, for a variety of good reasons, don’t have certain Credentials. These advisors are often part of a team of professionals who can lend support for advanced cases.
Other credentials to look for in a Financial Advisor are the licenses – Series 7 & Series 65 and if you’d like more information on a Financial Advisor you can look at: investor.gov or brokercheck.finra.org
- Experience
Ten years or more or works with an experienced team. The average investor often underperforms in the market because they allow emotions to control their decisions. Working with an advisor with 10 years of experience is valuable. Their long term perspective helps calm investor nerves while keeping them focused on the big picture. Make sure that your advisor is experienced or works with a team of seasoned professionals. When the next recession hits, it shouldn’t be their first rodeo!
- Character
They manage their own household well. Financial Advisors should have their own house in order. If they can’t handle their own finances, why should you trust them with yours? Your advisor knows just about everything about you, shouldn’t you know something about them? You can ask to see a copy of their credit report or credit score.
- Insight
“Big Picture Approach”. We often go through life with a disconnected assortment of things. Taxes, Wills, Trusts, Investments and charitable giving are often considered separately by different professionals. A great financial advisor has insight to see the Big Picture of your life. Great advisors can weave together this disconnected assortment of things into a beautiful comprehensive plan which can help you have peace of mind and achieve your goals.
What does this mean for you?
- Consider your ways
- If you believe that you can be the sole, or key voice in stewarding your assets…press on!
- If you believe that you need assistance in stewarding what the Lord has placed into your care, now is the time to seek out a financial advisor. Consider using a Christian one that meets the qualifications that we just talked through.
- It is possible that you are listening and you have a financial advisor, and you might not be sure that they meet these qualifications. Set up an appointment with them and ask the needed questions. Remember, this is about your stewardship and protecting and providing for your family!
- If we can be of any assistance, either by answering any questions that you may have, offering some counsel, or you may want to interview Tim or another one of our financial advising team members to see if they can help you with the stewardship of your assets, just reach out to us at contact@stewardology.com and we would be glad to help.
Our prayer is that this got you thinking about your own resources and finances and how you are stewarding them for the Lord. We put together a free PDF download of the bare-bones of what we talked about today. If you would like to have a copy, either visit our show notes for the link at Stewardology.com… or simply visit: TheLifeGroup.org/5Things
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