As the industry re-examines its value proposition, with a realistic eye toward what actually adds value for clients, we may see enormous shifts in the investment landscape
BOOK: Money, Meaning and Mindsets
Radical reform for the Investment Industry
The average person simply doesn’t understand the basics of investing. Can they learn? Should they learn? Of course. But their need creates a wonderful opportunity for investment professionals to be of service in a powerful way. Jim Ware, Keith Robinson and Michael Falk give us their vison for the investment world in Money, Meaning and Mindsets: a good read if you are interested in investing with a purpose.
"The crisis in the investment industry – scarce alpha, fee pressures and shrinking margins, shifts from active to passive – provides a powerful catalyst to rethink how things are done.These industry pressures, plus the two outside catalysts of millennials and aging baby boomers, provide additional forces for change.
It is a joy to serve, to help others. Maslow understood this core desire. As Maslow aged – like the baby boomers in the investment world – he added another level to his hierarchy, which he called Self-transcendence. He described it this way:
The self only finds its actualization in giving itself to some higher goal outside oneself, in altruism and spirituality
As the industry re-examines its value proposition, with a realistic eye toward what actually adds value for clients, we may see enormous shifts in the investment landscape."
Partners Jim Ware, Keith Robinson and Michael Falk of the Focus Consulting Group have teamed up to write a vision for the investment world. One that suggests the changes needed to make the profession a “noble calling.” Money, Meaning and Mindsets provides case studies of investment firms that are demonstrating new leadership with great success. These firms are characterized by skillful leadership, a strong sense of purpose, and highly cohesive cultures. They have moved away from a singular focus on shareholder profits to providing value for all the stakeholders: owners, employees, clients, and society.