Health Care, Wealth Care

What are you doing to stay healthy?

Photo: Seeman. Source: Morguefile

This may seem like a strange question from a financial professional, but our bodies and our finances are connected. Health is an integral part of our lives, just as money is. And finance is a lot like medicine: there are lots of technical issues that require specialized training, but applying them is often pretty basic. Health-wise, we should stay active, eat well, and get enough rest. Financially, we need to spend less than we earn, have clear objectives, and don’t panic during the occasional market downturn. Simple advice, but not always easy.

Moreover, both financial and medical professionals have fiduciary duties to their clients. If your doctor or financial advisor suggests a course of action, you shouldn’t have to wonder if their advice is tainted by their personal business interests. And it would be wrong for them to mention your affairs outside of their offices. You expect loyalty: your concerns come first.

Taking care of ourselves—both financially and physically—is a long-term process that requires careful planning along the way. It’s one more reason I’m a little skeptical of robo-financial advisors, the same way I’m skeptical about robot doctors. Our health is highly personal, and doesn’t fit into standard cookie-cutter models.

Probably the most important service any advisor—medical or financial—can perform is to help us see the world as it is, not as we would like it to be. After all, getting honest, caring advice is one of the healthiest choices we can make.

Douglas R. Tengdin, CFA

Chief Investment Officer

By | 2017-07-17T12:21:43+00:00 September 15th, 2016|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. –
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