Turning Client Values into the Seeds of Abundance

Reed ColleyAdvisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

A lot of financial planning software today is built to solve math problems, but what advisors really need to do is solve human problems. I’d like to propose a shift: empowering advisors to put client values at the center of their practice. Imagine a dashboard showcasing what truly matters to clients, not just algorithms and spreadsheets. By fostering an abundance mindset — both in advisors and clients — we can unlock remarkable new possibilities in wealth management.

But before I dive into the hows and whys of this transformation, let’s step back and consider a broader question: What do successful entrepreneurs, both inside and outside of wealth management, have in common? The answer might surprise you. It’s not just their financial acumen, but their ability to cultivate a positive, growth-oriented mindset. This very mindset, often overlooked in our industry, holds the key to unlocking a paradigm shift in wealth management, where clients’ values take center stage.

The power of abundance

When my team at Summit embarks on a new journey — whether it’s solving a small problem at work or envisioning a whole new way for advisors to connect with their clients — we take time to imagine a future version of ourselves in an environment where our obstacles have been overcome. It’s not necessarily a time-consuming exercise, or an overly procedural one, but we make sure to establish a mental framework centered around abundance:

  • We express gratitude and appreciation for what we have;
  • We acknowledge that we have the wherewithal to develop the skills we’ll need to arrive at a solution; and
  • We reassure ourselves that mistakes and missteps along the way are acceptable, so long as we’re learning from them. Failing forward is a positive learning experience, not negative.