What Emoji are you feeling these days when it comes to your financial life? Recall that an “emoji” is that little character that expresses an emotion using the keys on your computer or phone keyboard. Happiness, joy, confusion or sadness… there’s an emoji for it all. But just because the markets have been mostly joy … :o) … does not mean that your financial life is all joy and satisfaction. :/ (That is the “uncertainty/confused” emoji.)
I am borrowing from Notre Dame here. But even USC and Michigan fans will accept this as a universal concept.
Last year the University of Notre Dame celebrated 175 years since its founding. There was a lot to celebrate – far more than the seven Heisman Trophy winners since Angelo Bertelli in 1943. More notably, Notre Dame literally considers its greatest accomplishment as establishing itself upon the principal, “A Force for Good”. These were the words uttered by the Catholic priest founders of the University in the winter of 1842.
“A Force for Good” is what the whole world needs, yes?! A Force for Good is also needed desperately in financial services – but in ways not immediately evident.
Of course, most obvious, we need the Fiduciary Rule to be defined – in English – and present and enforced in our ALL our relationships where anyone is advising us on our financial affairs (more on the importance of the Fiduciary Rule in a future edition).
But less obvious – or practiced – is that YOUR ADVISER needs to be “A Force for Good” in YOUR LIFE. I mean this literally: you need to see and feel that the advisory fees you pay are really making a positive difference in your life.
What is the checklist for determining you are getting your money’s worth? Continue reading “A Force for Good”