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Scripture:
2 Timothy 2:3- Share in suffering as a good soldier of Christ Jesus.
The rise of online Christian Financial Advisors
As information becomes more abundant, good Christian Financial Advisors will become more accessible regardless of zip codes due to online access. We are seeing a decrease in clients willing to accept the poor interactions they receive from their advisors.
Years ago, clients had to either deal with the advisor in their local neighborhood/city or risk doing it themselves.
Today, it is a different story.
We are finding clients who want more than just a financial advisor.
They are interested in someone they know cares about them and their family just as much as their finances.
In a recent article on titled, ‘There’s a growing demand for psychology in financial planning: how top firms use it in their practices’ Michael Cornfeld, owner of heritage investors management that states,
“ A lot of people say ‘I can handle a 10% or 20% correction’ until it happens."
Christian Financial Advisors and planners can not control the stock market, we can only control how we participate in it.
In these situations, we find the client eager to liquidate everything, put the money in a mattress, and close their eyes until the danger goes away.
Even though this may be a temporary fix to their anxiety, it is sure to create future consequences that they are not ready for.
A few months ago we saw inflation rates go up around 4%.
So what do we do?
The first thing is to take the words of today's scripture.
“Share in the suffering as a good soldier”.
Your financial advisor should be able to share in your fear, warranted or not. It starts with good communication skills and the ability to listen to your clients, acknowledging their fears, and drafting plans to alleviate them of it.
When you don’t feel your advisor shares in your pain, it is going to create conflict.
That is why there seems to be a push towards psychology courses in Financial Planning certifications.
Not because the industry wants us to become therapist. They want advisors to be able to develop these soft skills to better serve clients.
Today, I want you to ask yourself,
"Does my financial advisor have my best interest in mind? When there is a market correction and the value of my portfolio drops 10-20% is he/she the person I want by my side to guide me through the storm?"
These are tough questions to ask, but they are very important. So the next time you meet with your advisor, take a look at how he speaks to you about your investments.
Is he genuinely interested?
Does he prioritize the same variables for strong consideration before making a recommendation as you do?
Or is he distracted and only interested in his own recommendations?
Prayer:
Lord, please give me discernment to choose a financial advisor that I will be willing to go to battle with. Someone who is strong in your name and willing to help me through the fight. Someone who listens, coaches, and wants me to win. In your name, Amen.
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As Christians, we were taught to be good stewards over our tithing and giving to the less fortunate. But when it came to our personal finances and investing we were left clueless on what the Bible says. What does the Bible say about managing debt, leaving a legacy, investing, and planning for your retirement? Mr. Christian Finance answers these and many other questions because we want to teach you how to become rich and righteous!
Meet A.B. Ridgeway:
A.B. Ridgeway, MBA, CPWA®️ (info@abrwealthmanagement.com) is the owner and Christian Financial Advisor with A.B. Ridgeway Wealth Management. With a decade in the finance industry, his goal is to give believers clarity around the most confusing topic in the Bible, money, and tithing. A.B. Ridgeway helps tithing Christians become cheerful givers but unlocking their money-making potential, so they can prosper and be the great stewards of the wealth God has entrusted them with.
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
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