As an investor, you have the right to be proactive in assessing your investment portfolio. Some may say you have a responsibility to be proactive as the owner of the investments. And you don’t have to be an expert in finance and investing.
If you use a financial advisor, they can and should understand your values and how those values need to be central to how your money is managed and invested, how your advisor thinks about the other important factors of your financial well-being, such as tax issues, retirement, estate planning, charitable giving, and others.
Thanks to Dwight Short, from his book Profit or Principles, here are a few questions you can ask yourself as you think about your investments and your relationship to your advisor.
- Does your advisor ever ask you about your faith journey to see if it is important in how you are investing your funds?
- Is there clear communication in regard to how your advisor charges for their services? (Commissions, fees, expenses for services, etc.)
- Has your advisor indicated any experience in screening investment choices to reflect a Christian worldview?
- Would your advisor pray with you and ask God’s blessings on you?
- Do you feel confident that your advisor is looking at you instead of your money?
- Would you trust this advisor to help your children, grandchildren or a sick relative?
- Is this advisor knowledgeable in a wide variety of subjects, especially in finance?
Once you’ve had a chance to consider these questions, you may now be ready to engage in a conversation with your advisor. Here are some questions to help you get started:
- Have you heard of any of these investing philosophies? Biblically responsible investing (BRI), Socially responsible investing (SRI), ESG investing, or Impact Investing?
- I’d like to consider how I can incorporate this type of investing into my portfolio, and I’d like your help, what can you do to help me with this?
If you prefer to do your own investing, our members firms are happy to help you with that process. A summary of each firm’s approach is available on our website, as well as contact information for the firm so you can begin a conversation. You don’t have to be alone on your journey.