Why work with a Catholic Financial Advisor?

There are around 250,000-300,000 financial advisors in the United States, but how many of them actively talk about their faith with their clients? That answer is hard to know but my guess is, not many. When I first got into this business I was actively taught to avoid talking about religion or politics with my clients. That can certainly help you work with a wider range of people, but does that create the best experience for someone working with a financial advisor? I don’t think so.

If your faith is important to you, then it should be very present in the room when discussing your finances. It makes sense to seek out an advisor who shares your faith so they can help you align your money with your values.

I’m not saying you have to agree on every single thing in life, but a shared faith will allow you to connect and have deeper conversations. Charitable contributions affect your tax and estate situation so they are big discussion points. But if you have an advisor that you know will not approve of your charitable inclinations, you may not be comfortable sharing that as deeply as you would with a Catholic financial planner.

And what about keeping your money in the proper context? This industry focuses so much on investment performance and trying to build a bigger pile of money without stepping back to think about what its all for? Don’t get me wrong, I want your investments to grow at an appropriate rate but only in the context of accomplishing your earthly goals and heavenly goals. You have a duty to support your family and support the church, but you also want to achieve the beatific vision.

Money has a way of pulling us off the path to heaven. We must earn, save, give and spend money while we are here but it is only to be used on our journey to the next life. This is an important distinction that many advisors wont understand unless they share your faith. But while we are here on this earth, money will need to be invested. So a Catholic advisor will be familiar with the USCCB guidelines for responsible investing. They can help you discuss some of the pros and cons of different investing options in light of that guidance. And then match investments that you are ok with morally with investments that will also help you accomplish your goals.

The final topic is prayer. When you create a long-term relationship with an advisor you are forming a relationship that will be there with you through good times and bad times. There will be job losses, illness and death. During all those times you will have a conversation at some point with an advisor. If you have an advisor that shares your Catholic faith, they will pray for you and pray for the soul of your deceased family member.

This is not an exhaustive list and I didn’t even get into the other financial planning topics that a good planner can help you with. You can click here to see another post I created discussing financial planning. Let me know what you think!

In summary, a Catholic financial advisor can help you:

·         Align your money with your values

·         Deeper conversations based on a shared faith

·         Share more fully about your charitable goals

·         Keep life in perspective, this world and the next

·         Support each other to build up the kingdom of God

·         Find investments that align with USCCB guidance

·         Prayer, for intentions and for clients

God Bless,

Phil Francois, CFP®
Owner & Financial Planner
Foundation Wealth Planning
www.foundationwealthplanning.com