We have always recognized a number of commonalities between health and wealth. The human aspects of wealth and the human aspects of medicine overlap. What may not be quite as obvious, however, is the similar manner in which physicians (some at least) manage conditions and the way we manage relationships over long periods of time.
When we start working with a client, we are usually not able to solve all of the anxieties, frustrations, and fears in one meeting. We try to avoid prescribing “financial pills” that may alleviate short term “pain” but mask more important longer term problems. Rather, we encourage clients to take steps that are in their best interests towards their longer term goals. It is a process of managing decisions and keeping these choices fairly simple and concrete (as opposed to complex and abstract).
People come here with all types of issues and the starting point is a real life conversation about what they want;what they have; and what they need. The human part of what we do, the personal part ,is extremely important. Human finance is a lot more that numbers on a page or screen. It is the whole, the entirety of a person’s financial life.
Baked Into the Cake
Just as with health, some issues concerning our wealth are “baked into the cake”. Some individuals have family resources and others have family debt; some have good genetics for purposes of heart diseases and cancers ,while others do not. We all start at a different point . In our work with clients, we focus a good amount of time on managing the components that are actually within our control. Physicians who manage long term conditions do the same.
Financial health and physical health both require effort and focus over a long period of time (perhaps that is why both are illusive). If we ignore one area long enough, problems arise. A large part of our value as an un-conflicted advisor comes from the process of managing our clients human finance so that major components are not forgotten or avoided. Wealth management is a lot more than just investments.
Yes, health and wealth have a lot in common. Most people come here, just as they seek medical care, primarily to solve some acute problem. This is important but usually pales in significance to less pressing chronic concerns. Helping clients manage both is what we do best.
We are happy to meet with friends, family or colleagues that might benefit from our approach. Don’t keep us a secret.
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