Finance With a View: A Wealth of Wisdom in Raj Sharma’s Resourceful Book
- If “The Purposeful Wealth Advisor” inspires and encourages even a handful of women and men of color to enter the clubby world of financial wealth advisors, it would have done its job.
A few weeks ago, I had the opportunity to provide some mentoring sessions to a young girl of color who had graduated with a degree in fashion merchandising and had been working for about a year. The reason she approached me was to get some career coaching guidance to get into the world of finance.
While I believe I provided her with some fundamental principles, tips and best practices on how best to accomplish that, I also assigned her some homework: to read “The Purposeful Wealth Advisor” by Raj Sharma. A short but resourceful book, it breaks down common myths and misperceptions and provides inspiration. More importantly, it imparts lessons learned by the author through his many years of experience about what works and what doesn’t.
Some of what is discussed and detailed in the book are quite intuitive — work for the client’s best interest and not for opportunities that will give greater commissions. Yet, it is precisely the retelling of such simple and intuitive concepts that makes this book a powerful read. Today, in a world where billionaires exist in almost a parallel universe, while a large number of hard-working individuals and families scrape by, Sharma has used the topic of wealth and somehow managed to deconstruct it into steps that are purposeful and moral, without being preachy.
Svadharma is an important spiritual concept in India — “one’s own right, duty, or nature; one’s own role in the social and cosmic order,” as defined in encyclopedia.com. A financial wealth advisor, who works in perhaps the most non-spiritual ecosystem of commerce, is the last one we can attribute svadharma to. However, Sharma has proven through this book that for his self, his career has been his svadharma — his life purpose and his self-actualization of his goals.
Anyone considering a career in finance or wanting to switch careers would be well advised to read this practical manual — a simple read that can be finished in one sitting.
Anyone considering a career in finance or wanting to switch careers would be well advised to read this practical manual — a simple read that can be finished in one sitting. Well-structured narratives, with key takeaways after each chapter add a utilitarian approach to the storytelling. Tips on how to succeed ranging from hiring virtual teams, to handling crises with the help of others (including clients) can help comfort a newcomer who can see the whole process as daunting or overwhelming. Examples that include real situations with clients demonstrate authenticity while conveying important principles, which can be very educational for those considering this as a new career.
For a small book, it is quite thorough and includes the many attributes that a successful financial advisor will need – though many of what is found here can also be found in other self-improvement books, like goal-setting, emotional intelligence and Pareto’s Principle. Some attributes are more important than others and are more relevant here — like handling rejections — which can literally make or break careers in finance. Ultimately, though, it is the tips on optimism and persistence (like in any other job) that will be most needed by newcomers.
The chapter that takes a holistic approach with mind and body comes through as the most personal. Examples of how he balances his time between work and family, (and how his six family members practice different types of meditation), show that it is possible to have a successful career without sacrificing an enriching, wholesome life.
Volunteering is also covered as a panacea for the mind, with his involvement in the American India Foundation, where he acknowledges that India will always have a special place in his heart. Sharma’s exhortation to get involved with the local community where we make our homes is a point worth repeating for many successful Indian Americans, who often focus their efforts on their home country and neglect the place where they make their homes.
While the book has seemingly accomplished its objective of establishing that it is possible to be a “purposeful wealth advisor,” it also seems like Sharma’s personal token of appreciation to Merrill Lynch, starting with a variation of the logo on the cover, the foreword, the introduction where he expresses his gratefulness to Mother Merrill, and other frequent references. This is understandable given his long tenure at the organization, but it also adds a bias that the book could have done without.
In the end, if this book inspires and encourages even a handful of women and men of color to enter the clubby world of financial wealth advisors, it would have done its job.
M.K. Srinivasan is an independent business consultant and has a background in journalism, advertising copywriting and marketing strategies that have enabled him to combine real-world experience with fundamental principles to help clients in achieving their goals. He has held senior roles in several media organizations in the U.S. He currently teaches writing and communication.