Our Promises To You
Read Time / 3 minutes
Theme / Stewardship
During the reception at our wedding, an older family friend approached me, shook my hand, looked me in the eye, and said solemnly, “Make sure to remember the promises you made to your wife today.” Earlier that day I had repeated the traditional wedding vows of loving and cherishing her, for better or for worse, till death do us part. At that moment, because of the respect I had for the family friend, the seriousness of my vows hit me. I had made promises that would extend far beyond the bliss of our wedding night.
It has been 38 years since I said those vows to my wife. The promises I made to her so many years ago still speak to me today. They are promises that were more than mere words. My commitment to my vows has led to a lifetime of joy, with many more years to come!
Promises come in many flavors: some promises can be fulfilled easily in the near term, while others are more serious commitments far into the future. Promises also play a significant role in the financial planning industry. Per industry mandates, we are held to six promises – referred to as duties – in helping clients. And, since Scripture is truth and provides guidance for life, we can find scriptural support for each duty.
Duty of Loyalty. This is a promise to put your interest ahead of our interest as advisors. We are to be loyal to you, keeping what is best for you in the forefront of our recommendations. “No one should seek their own good, but the good of others” (1 Corinthians 10:24).
Duty of Care. This is a promise to give you competent advice. As advisors, we possess the knowledge and skills to provide you appropriate care. In the industry, this is also referred to as the “prudent man” rule. “All who are prudent act with knowledge” (Proverbs 13:16).
Duty to Disclose. This is a promise to disclose relevant facts, so you can make an informed decision. Ultimately, the goal of all disclosures is to keep your best interest in mind. “Speak the truth to each other” (Zechariah 8:16).
Duty to Diagnose. This is a promise to know your situation – including your goals, timeframes, and risk tolerances – before making recommendations. It is also referred to as the “know your customer” rule. “An intelligent heart acquires knowledge” (Proverbs 18:15).
Duty to Consult. This is a promise to interact with others on your behalf in the broader financial community in areas outside of our training or experience. The goal is to provide you the most comprehensive and accurate guidance as possible. “Plans fail for lack of counsel, but with many advisers they succeed” (Proverbs 15:22).
Duty to Keep Current. This is a promise to keep up with changes that may impact your financial situation. This includes changes in laws, legislation, and investments that may impact your future. “Instruct the wise and they will be wiser still” (Proverbs 9:9).
These are the promises that we as Christian Wealth Management financial advisors make to you. Our goal is to help you steward the financial blessings the Lord has entrusted to you, so that you can glorify the Lord in everything you do (1 Corinthians 10:31), including your finances!
Doug Hanson, MBA
Wealth Advisor
208.697.3699
doug@christianwm.com
