Two Books by Sam Sloma That Financial Planners Must Read

I believe I would have begged you to kill me if you had told me ten years ago that I would not only become a chartered financial planner, but that I would enjoy it so much that I would study about the “science” of retirement and the “new retire-mentality” in my leisure time.

However, it appears that the lifestyle planning component has sparked something within of me, and once the desire to learn more about what you do sets in, you just want to soak it all up.

The New Retire-mentality by Mitch Anthony, who presented at Paul Armson’s BACK2Y conference last month, is a book I just finished. Anthony was excellent when I saw him speak last year.

The main thesis of the book is that retiring shouldn’t necessarily entail quitting one’s job and turning off one’s brain. In fact, there is a tonne of proof that doing so has a detrimental effect on your life.

People are living longer and working much longer than before because to medical advancements and healthy lifestyle choices.

The internet and advances in human connectivity have also made it simpler for people to phase the slowdown, establish new firms, or pursue passions in their spare time rather than assigning a fixed end to their working lives.

Traditional notions of retirement are evolving, and planners have a responsibility to ensure that seniors are aware of their possibilities. I would rate the book an eight out of ten because it was enjoyable and simple to read.

The second book I’d like to suggest is Simon Sinek’s Start with Why. Despite not being specifically about financial services, it is a fantastic book for comprehending the “why” in your company.

Understanding the purpose of the company’s existence gives a vital basis upon which to build, the significance of which you only become aware of after having discovered it. Sinek cites countless instances of business leaders who have succeeded repeatedly by beginning with why, including well-known CEOs like Steve Jobs of Apple.

A company can easily describe what it does, and it can also fairly easily (though perhaps more technically) describe how it does it.

But very few companies can express their why in detail. Why is it unrelated to money or profits? Why is your company in existence? Why does it act in the ways that it does? Why do clients actually prefer one business over another? Why do customers stick with some companies, but not others?

Starting with why is a strategy that works for companies of all sizes and in all sectors. People who begin with why are more likely to inspire others to behave in the way they want them to. Additionally, those that adhere to them do so voluntarily rather than out of necessity.

Now, it’s not quite fair to compare local financial planning firms with multinationals like Apple. It does not imply, however, that we cannot draw inspiration from these prosperous companies. Being able to analyse your company from the ground up and having everything in line with your why is a great value.

Start with Why is a best-seller, and I recommend it to anyone considering opening their own business.