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What Advisors Have to Be Grateful For

As we begin this new year, give yourself and your practice the gift of gratitude.

Let’s face it: 2020 was a most difficult year, and for many (if not most) the most challenging in some time. So it may seem a bit counterintuitive to practice gratitude … and yet, when you really think about it, is there a better time to do so than when the challenges you face are especially great, as they are now during a global pandemic? But even more than engaging in this most positive of behaviors during difficult times, the health benefits of practicing gratitude should move you to consider it as an everyday commitment or, actually, as a way of life.

Among the best practices associated with practicing gratitude as a way of life are:

  • Keeping a gratitude journal or jar (the latter of which can also be a group activity);
  • Saying “thank you” and, even better, writing thank you notes regularly; or
  • Engaging in meditation and/or prayer regularly

So, during this difficult time or in the better ones to come, I hope that you’ll consider committing to practicing gratitude as a way of life, as it’s truly a win-win: your life will improve because of the associated benefits of this practice and so, too, will those of everyone else with whom you interact. Positivity is contagious, which is a good thing for a leader, whether you’re a leader of clients as an advisor or a leader of advisors as a firm executive. Let’s get a head start on 2021 by sharing our gratitude now and on an ongoing basis.

In this spirit, then, allow me to share an abbreviated list of some of the things that I’m grateful for in hopes that it spurs you to consider yours:

Though I suppose that every year I should start with being grateful to be alive, in 2021 (and particularly after 2020, which I suspect will forever be remembered as the year of COVID-19), such an expression seems mandatory. Especially to honor the life of my late colleague and friend Peter Eisen, his death early in this crisis having reminded all of us at MarketCounsel just how serious a challenge the burgeoning pandemic would be and is, as well as just how fragile and fleeting life can be. Peter was one of those colleagues you wish for: competent yet not arrogant, congenial yet never intrusive. And proof that Billy Joel was right …

I’m also grateful for my loving wife, who, as a day care center owner and director, has had her own challenges this year. How do you keep the children in your care safe when you can’t control the homes in which they live and to whom they’re exposed there, as well as protect your dedicated staff? To whom do you turn for guidance when the local health department isn’t answering and the state licensing bureau has yet to issue any guidance after the latest pandemic developments have been announced? For her, I suspect, 2020 will always be remembered as the year of struggling mightily against forces beyond her control to care for souls so young and beautiful that they have no conception of the danger around them (which is exactly the way we’d prefer their lives to be).

I’m grateful for pineapple upside-down cake. Haven’t had one in years, sadly, but saw one on social media the other day and thought of my late, beloved mother: Her special gift to me during that especially challenging first year away at college was an irregularly timed surprise delivery of this most momentous delight, wrapped in taped paper grocery bags and twine. Yes, the cake was great, but, more than this, the love that it conveyed was even more nourishing. She didn’t send them as often in the later years of my collegiate career, and truth be told, I didn’t need them as much, but I sure could use one now.

I’m grateful for Pandora’s Art Blakey & the Jazz Messengers radio station, my default choice of background music to lift my mood and encourage me to be productive every day. And I appreciate the opportunity to mix this up on demand, as the Delhi 2 Dublin, Jamie Cullum, George Michael, Sade, Funk, Beethoven and JS Bach channels are always there to create an entirely different vibe, which is quite helpful on those days when deadlines loom and summoning all of your gifts is required.

I’m grateful for the media channels—social and mainstream—that’ve enabled me to stay informed as our world evolves, especially during what was a particularly eventful year. No, too often, the news hasn’t been great, but it sure beats being uninformed, a state which has proved to be accompanied by heightened—and potentially lethal—risk in the past year.

I’m also grateful for the editors of WealthManagement.com and the media channels like this one that’ve enabled me to share meaningfully and connect with so many in what I hope we all considered to be an elevating and illuminating ongoing dialogue. Having rediscovered my gift for and enjoyment of writing in recent years, 2020 was an especially gratifying year in that my associations with multiple virtual venues have enabled me to connect with people and professionals all over the country and, indeed, the world: My perspective has been broadened and deepened in ways that I couldn’t have imagined, so I’m eternally grateful to all who’ve contributed to these exchanges. No, not everyone who’s responded has agreed, but, thankfully, to a person they’ve been respectful. (Except on my more personal social media channels, where trolls live and I’ve learned to look beyond their fantasy worlds that don’t elevate my real one.)

I’m grateful for my team members, who’ve not only adapted and evolved successfully during this challenging year but also identified and addressed issues in ways that’ll enable us to serve our clients ever better, especially more consistently and efficiently. Their dedication inspires me, so I hope that I’m able to return some portion of this in the guidance, support and advocacy that I contribute to and on behalf of them.

I could go on, but I’ll stop here and note that just this exercise of reflecting on what I’m grateful for has engendered such a profound feeling of positivity and happiness, so I urge you all to join me in doing likewise regularly.

You’ll also notice that I celebrated blessings both big and small, meaningful and minor, which is the point: Gratitude as a way of life includes an awareness of and appreciation for all of our gifts, whether indelible or ephemeral. When we really focus on the abundance in our lives, we’ll begin to realize just how blessed we truly are.

So, will practicing gratitude make those challenging days at the office or at home better? Yes. It won’t eliminate the challenges, but it will enable you to keep them in better perspective and therefore address them more effectively.

Further, will practicing gratitude transform your business? Yes. Imagine how much deeper and stronger your relationships with your clients, both internal and external, will be if you regularly express your gratitude for the opportunity to be of service to them. Not only will your employee engagement and client satisfaction soar, but, so, too, will the likelihood that they’ll refer others for whom they care to your care. What professional or client isn’t looking to be associated with people and organizations that demonstrate authentic caring and appreciation?

Finally, will practicing gratitude help you put the challenges of 2020 behind you so that you can focus on and engage fully with the opportunities of 2021? Yes. But, of course, you’ll also be well served to be grateful for the lessons of the former as you address the possibilities of the latter.

Walter K. Booker is the chief operating officer of MarketCounsel, a business and regulatory compliance consultancy for investment advisors.

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