Today more than ever, people want to know that they can trust public officials, law enforcement, educators, journalists, retailers, and anyone who serves the public. The same holds true for financial advisors. Clients want to have a solid basis for trusting you. They want to know what you stand for.
For centuries, certain religious groups have used creeds to affirm their key beliefs. In fact, the word “creed” comes from credo, the Latin word for “I believe.” Similarly, credibility comes from credibilis, meaning “Worthy to be believed.”
When you define and document your beliefs, it can generate a feeling of confidence. Putting your proverbial stake in the ground shows others (and yourself) that you have conviction in your perspective. As Nick Murray writes in The Excellent Investment Advisor, “When I believe, I am believed.”
How about you? What do you believe?
You may believe that no one can consistently build and actively manage a successful portfolio of individual securities and that passive, index investing is the wisest choice for most investors.
Alternatively, you may believe that the markets aren’t as efficient as some believe and that opportunities exist for the astute and agile portfolio manager.
Or your approach to investing may be more focused on exercising caution when others are greedy and jumping in.
You probably have beliefs about other areas as well. What do you believe it means to serve clients with excellence? What do you believe about managing clients’ emotions? What do you believe about expressing appreciation to your clients?
If you’ve never documented your core beliefs, take five minutes at the beginning of each day to write down a few things you believe.
You can use this formula: what + why + how.
Start by stating what you believe. Then briefly explain why you believe it and how it impacts what you do.
In some cases, you may not know exactly why you believe something or how it impacts what you do. That’s ok. Just jot down what you believe so you can give it some additional thought over time.
Brought to you by Pathfinder Coaching & Consulting, https://pathfinderadvisor.com/.
The representations and opinions herein are the opinions and view of Pathfinder Coaching & Consulting and are not the opinions or views of EQIS. The information is believed to be reliable but is neither guaranteed by EQIS nor any of its affiliates. EQIS and Pathfinder Coaching & Consulting are not affiliated. EQIS is not responsible for the content or availability of Pathfinder Coaching & Consulting’s website. EQIS is not an agent for the third-party website nor do we endorse, approve or guarantee its products, services or representations. The website is provided for convenience only and is not under the control of EQIS. The security and privacy policies of the third-party website may be different from EQIS’s Terms of Use and Privacy Policy. Contact the external website for answers to questions regarding its content.
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