Using 1 Timothy 3 To Find A Financial Advisor

Shawn: Searching for a financial advisor who exemplifies Christian character and integrity? Want their guidance grounded in biblical truth versus worldly thinking? Today we share the qualities to look for pulled from scripture. Let’s get some perspective. Welcome to their episode of Christian Financial Perspectives. My name is Shawn Peters. I’m joined as always by my co-host and Father-in-Law, Bob Barber. And today we’re going to be covering 1 Timothy 3. It’s a little bit long, so we’re not going to read the entire scripture, but using 1 Timothy 3 to find a financial advisor. So 1 Timothy 3, for those that aren’t aware, in the Bible has many qualities that describe an elder or deacon – the qualities they should have if they’re going to serve in that capacity within the church. Bob and I both believe that these are also great qualities to look for anyone giving you financial advice, especially if they are a Christian. So I would encourage you to go check out 1 Timothy 3 for yourself. Feel free to pause this program, come back to it, or read it afterwards. It’s up to you. But in today’s episodes we’re going to discuss how these various guidelines, these qualities, can help you find your next financial advisor, if you’re looking for one while you’re watching this, which I feel like is probably likely. If you clicked on this video, probably might be what you’re looking for. Bob: Well, Shawn, I know that it’s this time of the year when people are looking for a financial advisor. It’s usually January, February and March, April. And then I know everybody kind of takes a break during the summer and then they come back around September, October in those years. And that seems to be the months when I’ve noticed from my experience in this business for many years is when people are looking for a financial advisor. So I thought this would be a great topic. Shawn: Which also makes sense. We totally get it. November, December, people are focusing on their families and then in the summer, kind of the same thing, things going on with the family. So yeah, we get it. Bob: You cannot go wrong If you look for a financial advisor that has these virtues, has these traits. Shawn: Again, especially if they’re a Christian. So first quality: above reproach, meaning free from sinful habits and behaviors. Bob: You had a great scripture here. Go ahead, Shawn. Shawn: Daniel 6:4, “Then the commissioners and satraps began trying to find a ground for accusation against Daniel in regard to government affairs, but they could find no ground for accusation or evidence of corruption because he was faithful and no negligence or corruption was to be found in him.” I mean, that’s a great one. Bob: Yeah, it is. It is. And so the first quality, there’s going to be 14 of these by the way, is to look for a financial advisor that is above reproach. Shawn: That’s right. That has integrity in their work and their personal life. Are they known to be ethical and honest? Bob: Now the second approach, there might be a financial advisor that may not be married, but if they are, this is one that we see. Of course, this is for an elder and a deacon, 1 Timothy 3. But I think it’s also a good one to look for as far as a financial advisor that they are faithful in their marriage if they’re married. Proverbs 31:10-12. Now I know this says an excellent wife, but could say husband as well there. Okay, Proverbs 31:10-12, “An excellent wife who can find for her worth is far above jewels.” I’ll say that that’s definitely true. Shawn: Yep. Amen. Bob: With my sweetheart of 40 years, “The heart of her husband trusting her and he will have no lack of gains. She does him good and not evil all the days of her life.” Shawn: That’s right. Yeah. Really what it comes down to is a strong, lifelong marriage indicates the responsibility and the commitment. And Bob, I think you and I can both agree that our wives have made us better men. Bob: Without a doubt. Shawn: And so I think again, that is also a very positive thing to help with whatever advisor you’re possibly looking at, if they’ve been married for a while, probably going to be a little more on track and responsible and tempered, which goes in the next quality. The third quality: temperate, meaning they’re calm and reasonable. Proverbs 15:1, “A gentle answer turns away wrath, but a harsh word stirs up anger.” Bob: So look for advisors that communicate calmly and don’t react harshly when you ask them questions like, why are you asking me that? Shawn: That’s right. Bob: You don’t want an advisor like that. You want one that’s going to come back with compassion. Shawn: Which goes right along with some of our many other episodes. We’ve talked about keeping emotions out of financial decisions. If you have someone who is not temperate, they’re not calm, they’re not reasonable, they react harshly, probably not a good sign because if they’re helping to manage your money or helping you with making those financial decisions and they can’t keep their emotions out of their basic communication with you, not a good sign. Bob: Which goes into another trait just kind of like this. Okay, they’re self controlled. Shawn: That’s our fourth quality. Bob: Meaning they don’t act impulsively and they regulate their emotions. Shawn: That’s right. Exactly. Proverbs at 25:28, “Like a city that is broken into and without walls is a man who has no control over his spirit.” Bob: And you have some additional insight here that you put down, Shawn. Shawn: Do they think through decisions versus acting on emotion? Bob: The fifth quality that we see out of the 14 is: are they respectable? Respectable meaning they’re honest and they’re good and they’re proper. The scripture that I know you chose for this, Shawn, was from Philippians 4:8, “Finally, brothers and sisters, whatever is true, whatever is honorable, whatever is right, whatever is pure, whatever is lovely, whatever is commendable, if there is any excellence, if there is anything worthy of praise, think about these things.” Shawn: That’s right. So something to apply, okay, how does the scripture apply? How does this quality apply? Well, are they involved in respectable community groups and activities? Are they involved in their church? Are they involved in small groups? What kind of things are they doing to be respectable and known in their community? Our sixth quality: hospitable meaning friendly, generous, and welcoming. 1 Peter 4:9, “Be hospitable to one another without complaint.” Bob: I definitely like doing business with people that are friendly. Shawn: It’s a lot easier. Bob: It’s a lot easier that are generous and welcoming. And I think that that would be somebody that… a trait you would definitely want to look for in a financial advisor. Seventh quality: teacher. This is something, it comes about me naturally. I love teaching. But will they teach you? Are they able to teach? Will they explain and show you how their financial advice applies? Shawn: And for this we have 2 Timothy 2:24-25, “The Lord’s bond servant must not be quarrelsome, but be kind to all, able to teach, patient when wronged, with gentleness, correcting those who are in opposition, if perhaps God may grant them repentance leading to the knowledge of the truth.” Bob: So can they explain concepts in a way that help you to understand it? And Rachael’s told me over the years. She says, “Bob, you speak in a different language when you start saying PE ratios and things,” all the different jargon that we use. Many times I do look at a client across, we’re doing a client review and they’re like, I’m not sure what that means. Well, I need to explain. That’s the price to earning ratio. Shawn: As they say, explain in plain English. So for those who aren’t a professional advisor, can you explain things to where someone can understand what you’re trying to say? Yeah. So our eighth quality: sober, meaning not given to drunkenness or overdrinking, 1 Peter 5:8, “Be of sober spirit beyond the alert, your adversary, the devil prowls around like a roaring lion seeking someone to devour.” Bob: Yes. So look for somebody that has self control and has sound judgment. Shawn: That’s right. You want to do our ninth quality, Bob? Bob: The ninth quality is: a gentle person, meaning they’re mild tempered, they’re kindhearted, and they’re meek. That’s a really big thing today, being meek. Matthew 5:5 says, “Blessed are the gentle for they shall inherit the earth.” And do they come across as being patient when you’re talking to them? Shawn: That’s right. That’s right. Bob: And humble and caring. Shawn: So our 10th quality: generous and unselfish, not a lover of money. Bob: Now that’s a big one in the financial industry. Shawn: That’s right. So Luke 12:15, “Then he said to them, ‘Beware and be on your guard against every form of greed for not even when one has an abundance, does his life consist of his possessions?’” Bob: That’s why I like that we don’t do commission based products, and we’re fiduciary based. We want to do what’s in the best interest of our clients. Shawn: That’s right. Not what might get additional commission or extra paycheck. Bob: Yeah. So are they focused on serving you and your goals versus their own financial goals? Shawn: That’s right. The 11th quality: a good manager, meaning they manage their business and personal life well. Luke 16:10, “He who is faithful in a very little thing is faithful also in much. And he who is unrighteous in a very little thing is unrighteous also in much.” Bob: That’s one of my favorite scriptures. I quote this one a lot because a lot of times people say, “I just don’t understand why I can’t get ahead?” Well maybe you need to start small and then you can get larger instead of thinking, I’m just going to go large. Shawn: Number 12. Bob: A mature Christian. I think this is very important. If you’re looking for a Christian financial advisor, they need to be mature in their Christianity. In 1 Corinthians 14:20 is one that Shawn found here, “Brethren, do not be children in your thinking. Yet in evil be infants, but in your thinking, be mature.” Shawn: “But in your thinking, be mature.” Bob: That’s right. Yeah. Be mature. And it takes years of reading God’s word and understanding how to apply that. And if you’re looking for Christian financial advice and what the Bible has to say about it, I mean there’s over 2000 scriptures of what the Bible says about stewardship. So this is a good quality to look for. So we got two more. 14 of ’em. Shawn: Hang in there. All right. 13th quality: reputation, a good reputation in their community. Proverbs 21:1 states that, “A good name is to be more desired than great wealth. Favor is better than silver and gold.” Bob: And that reputation comes from years. It takes a while to get a good reputation. You don’t just get it overnight. Shawn: So, what do others say about their character and service? Bob: Good to ask around. Shawn: Yeah, and I mean you can even ask, if you want, many advisors will ask some of their clients if it’s okay for you to contact them, direct one-to-one and see like, “Hey, well what’s it like working with this person?” Bob: I think this is where reviews come in sometimes, too. Shawn: Yeah, It can. Bob: Alright, the last quality, I know there was 14 of these and there’s a lot. The last one is if you’re looking for a Christian financial advisor is: do they have a biblical worldview where truth is based on scripture and is not relative. And this world today is trying to make truth more and more relative. It’s not, contrary to popular opinion. It’s so much easier when you have the foundation. And that foundation is in Jesus Christ and that foundation is in His word. Truth was the same a thousand years ago. It’ll be the same in a thousand years. And it’s the same today. It’s not relative, contrary to popular opinion. Shawn: And for this one we have Psalm 119:160, “The sum of your word is truth and every one of your righteous ordinances is everlasting. Bob: Bottom line, do they advise using biblical principles? Shawn: That’s right. Well, thank you for sticking around with us. That’s all we have for today. We really hope you enjoyed this episode and God bless you. [DISCLOSURES] * Investment advisory services offered through Christian Investment Advisors Inc dba Christian Financial Advisors®, a registered investment advisor registered with the SEC. Registration as an investment advisor does not imply a certain level of skill or training. Comments from today’s show are for informational purposes only and not to be considered investment advice or recommendations to buy or sell any company that may have been mentioned or discussed. The opinions expressed are solely those of the hosts, Bob Barber and Shawn Peters, and their guests. Bob and Shawn do not provide tax advice and encourage you to seek guidance from a tax professional. While Christian Financial Advisors® believes the information to be accurate and reliable, we do not claim or have responsibility for its completeness, accuracy, or reliability.