The Benefits of Working with a Christian Financial Advisor

As Christians, we believe that how we manage our money matters, not only to our families, but ultimately to God. How do we weigh our various options and make sure we are good stewards of God’s blessings. Where can we find biblical wisdom to guide us in such matters? I would suggest four sources. First, the Bible provides us with divinely inspired time-tested principles. Second, the Holy Spirit guides us in our pray life regarding our finances. Third, we can ask other Christians. And finally, because in today’s world financial advice can be complicated, a Christian financial advisor can provide valuable information and perspective. As Proverbs 15:22 tells us, “Plans fail for lack of counsel, but with many advisors they succeed.”

How does working with a Christian financial advisor differ from other financial advisors? Respected author and speaker, Mitch Anthony describes Five Realms of Risk which describes how Christian advisors are different. All financial advisors understand and can explain Investment Risk. Average financial advisors will also discuss Catastrophic Risk and Management Risk. Great financial advisors will also address Event Risk. What separates Christian advisors from the rest of the pack is their understanding of Spiritual Risk. The Bible warns us about the love of money and asks us in Matthew 8:36, “For what will it profit a man if he gains the whole world and loses his soul?” This is a real risk to our souls if our attitude toward money is self-centered rather than God-centered.

Jesus highlighted this point in Matthew 6:24, “No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to one and despise the other. You cannot serve both God and money.” This doesn’t mean we should ignore our money. We are called to be good stewards. Everything we have came from God (1 Peter 4:10, I Corinthians 4:2). Managing Spiritual Risk as a Christian needs to be a top priority. We’re called to always place God first. This is where Christian financial advisors truly differentiate themselves.

Most financial advisors agree that there are five basic ways our money can be used. We use it to Live, to pay Taxes Owed, to repay our Debts Owed, to Grow for the future, and to Give. Ron Blue, co-founder of Kingdom Advisors calls these uses of money Live, Give, Owe, Grow. This makes for an easy reminder.

Christian priorities are what set Christian financial advisors apart from other advisors. Worldly advisors would say live on the money, pay your taxes and debts, then set aside money for the future and if there’s any left, you can give some of it away. A Biblical approach tells us that the world has it backward. We should give first, set aside money for the future, pay our debts and taxes, and live on the rest. One of the biggest values a Christian financial advisor provides is acting as an advocate for this Biblical approach to finances.

In addition, a Christian financial advisor will want your investment portfolio to align with your Christian values. Faith-based investing permits people to invest in a manner that aligns with their faith. There are two trains of thought on this subject. Impact investing is investing in companies that seek to impact the world in a positive manner and do good. Biblically Responsible Investing, or BRI, focuses on investments that do not violate Biblical principles and do not do any harm. This shifting of investment priorities puts using money in ways that are consistent with your beliefs and values ahead of only seeking monetary return. Christian financial advisors will stress Impact Investing or BRI. On the other hand, other financial advisors may never even consider such an approach.

After the decision to invest has been made, it’s important to seek both good returns and low fees while accounting for your risk tolerance. While all advisors agree upon this, a Christian advisor would never suggest getting a better return or a lower fee if it means violating what God desires of us as stewards.

How would you feel if you discovered your investments supported activities like abortion or pornography? In his book “Biblically Responsible Investing,” Robert Netzly poses the question, “Does your conscience have a price?” He states that “the Christian investor must seriously consider whether there is a return high enough, or fee low enough, that would entice them to abandon God’s call to Biblically responsible investing. It’s a question for which Christians should have a clear answer. No. As Acts 24:16 informs us, “So I strive to keep my conscience clear before God and man.”

A Christian financial advisor can check under the hood of your portfolio and tell you if it is honoring God. Even I have to admit that before I decided to incorporate my faith into my financial planning practice I did not always honor God. I had no way of knowing. I didn’t even think to look. But, now it’s fundamental to how I approach investing.

If you’ve found this approach appealing, what are your next steps? I would suggest you read your Bible. Pray thoughtfully. And find a Christian financial advisor. They examine what your investments are doing in addition to how they are doing. This will help you to make sure your portfolio honors God.

Matthew 6:33 tells us, “But seek first His kingdom and His righteousness, and all these things will be given to you as well.”

At Faithful Steward Wealth Advisors, we offer Biblically responsible investment management, faith-based financial planning advice, and free portfolio reviews.

Faithful Steward Wealth Advisors, LLC is a registered investment advisor.