“How do I know that my financial advisor is trustworthy?”
Dear Friends,
This week I have been thinking a lot about the issue of integrity. The upcoming inauguration inspires patriotism and honor and respect for the history that we have as a nation. In contrast, nightly news reports on the brokenness of our world and the people in it. Clearly, there is an integrity gap in our world. We hold to lofty ideals and deal with mundane realities.
The way I see it, there are three layers of integrity around us. First of all, there is the integrity of our God. God is not surprised, nor is He worried about the brokenness we face. His grace through Jesus Christ provides complete redemption for our sins and allows us access to relationship with Him. Furthermore, He left us the Holy Spirit and His Word to guide us in the ways of Truth. Even though we live in a broken world, as believers, we are assured of the integrity of eternity. When difficult news stories break, I hope that you are encouraged that this world we live in is temporary space and that our hope is certain, no matter what.
Secondly, there is the integrity of others. This includes our financial advisors and our other chosen advisors. Certainly, we should be very careful about the integrity of our advisors so that we are as protected as possible from the greed and foibles of men such as Bernie Madoff. Learn to ask good questions and to do due diligence as you hire people to advise you.
Finally, though, as I’ve considered the issue of integrity this week, I have been reminded of the importance of my own integrity and the advice I give to those who trust me the most. Abraham Lincoln once said, “Every man over forty is responsible for his face.” This quote is a very memorable way of saying that my choices, over time, will make me. The lines in my face tell whether I smile or frown, whether I laugh or worry, and whether I deal honestly or dishonestly with those around me. As a man in my mid 60s, I know that others see a lifetime of expressions when they see my face. My life’s impact is the sum total of my life’s choices, big and small. I cannot change that fact. My own integrity matters tremendously to those closest to me – my wife, my children, my grandchildren, and my colleagues.
As you think about your life and your advisors, I encourage you to take courage in the rock solid integrity of your Father, be wise in evaluating the integrity of your advisors, and be committed to your own integrity so that the face you present to the world will be one that reveals truth and love.
May God’s peace encourage you as you pursue financial wisdom and depend on His Truth.
Blessings,
Ron
Click here for the video transcript
This week I have been thinking a lot about the issue of integrity. The upcoming inauguration inspires patriotism and honor and respect for the history that we have as a nation. In contrast, nightly news reports on the brokenness of our world and the people in it. Clearly, there is an integrity gap in our world. We hold to lofty ideals and deal with mundane realities.
The way I see it, there are three layers of integrity around us. First of all, there is the integrity of our God. God is not surprised, nor is He worried about the brokenness we face. His grace through Jesus Christ provides complete redemption for our sins and allows us access to relationship with Him. Furthermore, He left us the Holy Spirit and His Word to guide us in the ways of Truth. Even though we live in a broken world, as believers, we are assured of the integrity of eternity. When difficult news stories break, I hope that you are encouraged that this world we live in is temporary space and that our hope is certain, no matter what.
Secondly, there is the integrity of others. This includes our financial advisors and our other chosen advisors. Certainly, we should be very careful about the integrity of our advisors so that we are as protected as possible from the greed and foibles of men such as Bernie Madoff. Learn to ask good questions and to do due diligence as you hire people to advise you.
Finally, though, as I’ve considered the issue of integrity this week, I have been reminded of the importance of my own integrity and the advice I give to those who trust me the most. Abraham Lincoln once said, “Every man over forty is responsible for his face.” This quote is a very memorable way of saying that my choices, over time, will make me. The lines in my face tell whether I smile or frown, whether I laugh or worry, and whether I deal honestly or dishonestly with those around me. As a man in my mid 60s, I know that others see a lifetime of expressions when they see my face. My life’s impact is the sum total of my life’s choices, big and small. I cannot change that fact. My own integrity matters tremendously to those closest to me – my wife, my children, my grandchildren, and my colleagues.
As you think about your life and your advisors, I encourage you to take courage in the rock solid integrity of your Father, be wise in evaluating the integrity of your advisors, and be committed to your own integrity so that the face you present to the world will be one that reveals truth and love.
May God’s peace encourage you as you pursue financial wisdom and depend on His Truth.
Blessings,
Ron
Click here for the video transcript
You were on the radio today and you mentioned several things which I could not write all of them down. Please give that information. Some of the things that you said was as:
Live within your need, saving, paid it back, give away live on it, etc. etc. Thank you kindly.
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Thank you for your interest! The four principles were: spend less than you earn, avoid the use of short term debt, save for emergencies, and set long term goals. Additionally, I would add to maintain your current level of giving. I appreciate your time and your question! - Ron
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Integrity is a character quality that is certainly lacking these days.
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So many people are afraid, since the Madoff fiasco. This video was so timely. I like that you remind us that not all Christians are good investment adivsors. We still have to have discernment in who we deal with. Great job, and quite timely. Thanks so much!
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This was a great clip. I would add that if something sounds too good to be true, it is. Bernie Madoff sold the concept of a 7-9% annual return with essentially no downside risk. In fact, many of his clients treated their money with Madoff, as the bond portion of a diversified portfolio. His customers bought the idea that somehow his experience made him immune to systematic (market) risk. Investing 101 teaches us that systematic risk cannot be reduced within a portfolio. This would have been the first signal that his investment was “too good to be true.”
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I am disturbed when I hear daily on Christian radio advertisers luring consumers to agencies that will write off our credit debt. They often refer to the consumer as victims of the credit companies. As I see it, we are victims of our own covetedness and greed. Credit companies do not force anyone into debt, we walk into it smiling most of the time. What is your take on the trend of writing off your debt?
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Martha, I agree that debt is always symptomatic of deeper issues, which can include covetousness and greed. My position on writing off debt and even declaring bankruptcy is that either option should be used as a last resort way to re-organize debt, but never as a way to avoid paying debt. As believers, we are called to repay our debts - even if it takes much longer than we had planned or than our debtors would like. If you want to see more about my views on credit card debt, go to "Get Answers" and look at Debt, Credit, and Bankruptcy. The last question in that section may be particularly helpful to you. Blessings!
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The article did not answer the title's question, & therefore, didn't meet my expectations & the reason I read the article.
Linda
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