Christian Financial Planning in San Antonio, TX
Deciding on the right financial advisor is a decision that will have a significant impact on your financial life, as well as your personal life too. Your finances, retirement and estate plan, and virtually every other aspect of your overall financial plan will dictate the lifestyle that you live. While there is no shortage of different types of advisors to choose from, choosing an advisor who shares a spiritual relationship with God and uses that to guide their investment strategies can help build a fruitful and meaningful relationship with your advisor that will span years, if not decades.
Comprehensive financial planning is comprised of many moving parts. From retirement planning to estate planning and investment management, there is a lot going on. Of course, good tax planning strategies should be ubiquitous amongst all aspects of financial planning as well.
However, there is another aspect to financial planning that does not have anything to do with finance. Christian financial advisors are advisors who not only specialize in specific areas of investing and wealth management, but who integrate their Christian faith into their work, and who use faith-based investing approaches in their practices.
Christian financial planners take more than a purely financial approach to wealth management. They believe that how you do anything is how you do everything, and just as their faith is a big part of their lives, it must also be a large part of their finances and investment philosophy. For them, working with clients with similar values and spiritual connections with God is of the utmost importance; working with clients solely based on the financial implications does not have the same importance to it, and this view is often reciprocated by their clients as well.
As Christians, we strive to honor God daily in our practices, habits, and interactions with family, friends, and community. However, many people fail to ever look at the morality of their investments, paying little to no mind to them whatsoever.
For example, how many people would willingly give money to a company that supports abortion? What about pornography? Not likely many, at least those with strong Christian values. However, many unwittingly do just that, filling the pockets of companies that engage precisely with these nefarious activities mentioned above by investing money into them.
Biblically Responsible Investing (BRI) is a Christian investment movement that aims to align the investments of its Christian investors with biblical values and offer biblical financial guidance. To do so, Christian financial advisors who follow these investment principles avoid investing in or with companies that engage in what we consider immoral practices, instead seeking to glorify God with their finances in addition to our other daily practices.
The reality of financial planning is that it ultimately is a reflection on both the values and priorities of the individual or investor in question. With that being said, your financial advisor or planner is not and can not be in charge of what you consider to be important; all of us are unique and make decisions in and outside of the financial realm which reflect our values and what we believe. This is where the value of working with a Christian financial advisor becomes relevant.
Although the financial process may be relatively the same in terms of process (think save, invest, plan for retirement, etc.), faith-based investing aligns Christian values and priorities, which separates investors and advisors alike when it comes to the financial planning process. The emphasis on values like stewardship and the guiding principles of biblically responsible investing is what differentiates Christian financial services from the rest of the pack.
On the surface, the Bible and financial planning, specifically retirement planning, may appear to have precious little in common. However, that is not the case.
One of the most important questions pre-retirees and retirees must ask themselves when it comes to retirement is what an intentional retirement looks like to them personally. Retirement is no different than any other aspect of your life; your work, your family, your hobbies-these are all things that give your life value, meaning, and purpose. Why should retirement be any different?
When you retire, you’re going to cease working. Or perhaps not? Maybe you want to work part-time or volunteer. Regardless of what you want to do, you need to make sure that you have some sort of intention or purpose, otherwise you will spend your time unfulfilled and with nothing of importance to do.
An intentional retirement will be different for everyone and is often comprised of many different things, such as spending time with family, traveling, and engaging in hobbies both new and old. However, for Christian retirees, there is a spiritual component that encompasses all aspects of their lives, including their finances, and of course their retirement. The Bible and its wisdom will have a substantial influence over your life, and this will of course be the case when you retire as well.
When it comes to retirement planning, making room for the Bible and its influence and teachings will of course be a crucial aspect for any good Christian. This is why the connection is so important, and why it is so valuable to work with a Christian financial advisor.
A faith-based advisor who uses the Bible as a guiding principle in their approach to investing is going to understand why and how the Bible is an imperative aspect of the retirement planning process for you. Where other advisors may fall short and not prioritize Biblical wisdom in the financial planning process, working with a Christian financial planner ensures that they will always put your Christian beliefs at the forefront of every decision and strategy.
Just as you would with any advisor, when you are considering faith-based advisors, you will want to do your due diligence when it comes to research to ensure that the relationship will be a good fit. There are several different attributes to consider, and they can be classified into two groups: the spiritual, Christian-based aspect, and the financial aspect.
If your faith is strong enough to be in the market for a Christian financial advisor, then making sure that your advisor shares your religious values is the most important thing, first and foremost. Your Christian faith is a driving force and influence in your life, and while many advisors may not understand this or prioritize it, a Christian financial advisor that shares common values and beliefs will understand the necessity for faith-based investing philosophy. How specific and detailed you want to be with your advisor will be dependent on both you and your advisor, and finding the right balance and comfort level will be essential to building a strong relationship.
Though important, it is imperative to remember that shared Christian faith and values are not the only prerequisite to consider when researching prospective advisors. You don’t want your advisor to not understand finance or how to manage your wealth accordingly. While it may be great that they attend mass on Sundays, you still want them to be able to structure your retirement according to your risk parameters and financial goals. Do your research on the advisor you are considering, especially if you are in the market for a specialist. For example, if you are in dire need of estate and retirement planning advice, it may not be as beneficial to work with an advisor that specializes in short-term investments.
Lastly, you want to also research how your advisor is compensated. This will be extraordinarily important in regard to what it means to your portfolio and financial plan. Financial advisors who are not bound by fiduciary duty or a board of standards may not have your best interests in mind, instead choosing products and strategies that benefit themselves more than you. Working with a financial professional with a fiduciary duty ensures that they have a legal duty to serve their client’s best interests, and are held to a higher standard. Understand how your advisor is paid and the potential impacts this can have on your investments and financial plan.
The ultimate goal of any advisor is to build wealth for their clients and help them meet their financial goals. This is done through investments, retirement planning, and estate planning, and it is done uniquely for each client based on their unique goals and finances. This is an inclusive process that encompasses a lot of moving parts including ensuring that all investments and plans are done within each client’s preferred parameters for risk.
While this is irrefutably important, it is important to remember that God is also a part of this. Just as he is omnipresent in every other aspect of life, God and his teachings are ever-present when you are building wealth and working towards retirement.
Through avenues such as Biblically responsible investing and other faith-based investment approaches and decisions, the Bible and God are always factored into the equation when working with a Christian financial advisor. Serving God is an integral part of the Christian lifestyle, and it should also be an important aspect when it comes to your finances and investments as well.
Christian financial advisors make sure to keep this in mind when developing financial plans and investment strategies for their clients and adhere to responsible Biblical-based investment approaches. Building wealth is more than just meeting financial goals and hitting certain numbers; this concept is something that every faith-based Christian financial planner understands. Serving God is a daily part of our lives, and building wealth is no exception to this rule.
There is no shortage of financial advisors out there willing to lend their services to help you build your assets and plan for retirement. While all of these options can seem daunting and confusing, it is important to stay true to your values and principles. With all of these options out there, why not work with an advisor that shares your Christian values and faith?
Working with a Christian financial advisor has many benefits, including working with an advisor who understands your faith and why it is such a vital component of your life. Your advisor is someone who is going to be structuring your retirement and finances, which will have a heavy influence on all aspects of your life and the lifestyle you choose to live. A Christian-based advisor is an advisor who is going to ensure God, the Bible, and Christian values are always a component in your finances as you grow your wealth.
This material is provided by PAX Financial Group, LLC. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. The information herein has been derived from sources believed to be accurate. Please note: Investing involves risk, and past performance is no guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All market indices discussed are unmanaged and are not illustrative of any particular investment. Indices do not incur management fees, costs and expenses, and cannot be invested into directly. All economic and performance data is historical and not indicative of future results.