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Dwealth.news

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Home Podcasts Standard Deviations Podcast STANDARD DEVIATIONS PODCAST: Andy
Baxley – The Power of Financial Purpose
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STANDARD DEVIATIONS PODCAST: ANDY BAXLEY – THE POWER OF FINANCIAL PURPOSE

By
DWN Staff
-
July 7, 2024
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--------------------------------------------------------------------------------

This week on the Standard Deviations podcast, Dr. Daniel Crosby is joined by
Andy Baxley, Senior Financial Planner at The Planning Center.

Andy works with clients from a variety of professional backgrounds, but he is
uniquely positioned to serve those who work in higher education and other large
non-profit institutions. Utilizing his background as a former educator and his
experience as a Wealth Management Advisor at TIAA, Andy takes pride in
approaching his work with the heart of a teacher and insights gained from years
of relevant experience. Andy’s approach to financial planning goes beyond the
numbers; it’s about helping the individuals and families I serve achieve
clarity, confidence and a sense of purpose around their money. Ultimately, he
doesn’t just want his clients to feel financially secure; he wants them to feel
empowered to plan with a sense of optimism and possibility. As a Colorado
native, he cherishes moments in nature with his wife, Yi, and their son, Bo.
While a piece of his heart will always be in the Rocky Mountains, Andy has found
much to love in Hyde Park, Chicago. On any given Saturday, you’re likely to find
them riding their bikes along Chicago’s beautiful Lakefront Trail, spending lazy
afternoons with friends at Promontory Point, or taking a stroll to get pastries
and coffee at Plein Air, their favorite neighborhood cafe. Like the clients he
serves, Andy takes pride in being a lifelong learner and can often be found
working his way through new degrees, designations and courses. In 2021, he was
proud to complete Kansas State University’s master’s in personal financial
planning with an emphasis on advanced financial planning and financial therapy.
Recently, his focus has turned to mentoring young planners and helping them
build rewarding, purposeful careers.
 

Tune in to hear:

 * Why do humans seem to have such limited access to understanding what they
   want, from a financial perspective?
 * Andy believes that the ethos of financial planning is the marriage of capital
   and purpose. What, specifically, does he mean by this and why does he think
   it is so critical?
 * Should we try to expand our clients’ notion of capital and what might be the
   broader impact on their lives if we were to do so?
 * How would Andy tease out the subtle differences between goals, values and
   purpose and is one of these more fundamental than the rest of them?
 * Does Andy often see dissonance between clients’ professed values and how they
   spend their money and time? How can we help our clients achieve better
   alignment with their values?
 * How can advisors take a client’s values and transmute that into a statement
   of financial purpose?
 * What would Andy say to clients who want an advisor who is effectively just a
   stock picker and not a guide to fulfilling their financial purpose?
 * Why is a purpose-centered portfolio a great “regret minimization tool?”
 * How often should clients revisit their financial purpose thesis?
 * What are some of the benefits that accrue to both clients and advisors who go
   with a more bespoke, meaning-centered financial plan?



Compliance Code: 1304-OAS-5/23/2024

--------------------------------------------------------------------------------

ABOUT STANDARD DEVIATIONS PODCAST:

Educated at Brigham Young and Emory Universities, Dr. Daniel Crosby, the
personality behind STANDARD DEVIATIONS podcast, is a psychologist and behavioral
finance expert who helps organizations understand the intersection of mind and
markets.

Dr. Crosby’s first book, Personal Benchmark: Integrating Behavioral Finance and
Investment Management, was a New York Times bestseller. His second book, The
Laws of Wealth, was named the best investment book of 2017 by the Axiom Business
Book Awards and has been translated into Japanese, Chinese, Vietnamese and
German. His latest work, The Behavioral Investor, is an in-depth look at how
sociology, psychology and neurology all impact investment decision-making.

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