Values, Purpose, Action: A 3-Part Approach to Establish A “Statement of Financial Purpose” And Unlock Deeper, More Meaningful Planning Conversations with Clients
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Retirement planning as we know it is evolving. The financial industry is shifting from transactional relationships focused on trades and insurance — to a more values-driven approach that aligns your financial decisions with personal goals and priorities (i.e. the Retire With Purpose Framework)
READ THE ARTICLEThis transition enables deeper, more meaningful conversations, but also challenges you to define your values and sense of purpose.
Here, an example of a 3-step framework for creating a values-based financial purpose statement is explored:
📌 Step 1 – Define Core Values: Consider reflective questions like “What does a perfect day look like?” to identify realized and aspirational values, such as family priorities, legacy building, or simplicity
📌 Step 2 – Articulate a Statement of Financial Purpose: Draft a concise statement that reflects your true motivations and priorities, with an advisor guiding you through the process to ensure it is authentic and actionable. This statement serves as a touchstone for future financial decisions.
📌 Step 3 – Act and Reassess: Use your purpose statement to evaluate and align financial goals with your values. An advisor can help you set new, meaningful objectives and revisit your statement periodically to adapt it to evolving circumstances.