Purposeful Investing Strategies for 2024

As 2024 approaches, it’s more evident than ever that investing is not just about accumulating wealth— it’s about making a meaningful impact on those you love and your community or the world. 

As someone who has accumulated a substantial liquid wealth of $1 million or more, you are undoubtedly familiar with traditional investment methodologies that primarily focus on growing and preserving your assets, but that’s about it.  

While there’s nothing wrong with accumulating more wealth, many investors are looking for a higher purpose for their assets today. So, increasing numbers of affluent investors are using their wealth to invest in ways that make the world a better place for their families and future generations.

Enter purposeful investing.  

Purposeful investing is more than just investing to grow your wealth; it’s about aligning your investments with your values and beliefs. Using our goals-based planning process, you can align your portfolio to serve your financial goals while also positively impacting the needs of society that resonate with you and your family.

As fee-only fiduciary advisors, the Cogent Strategic Wealth team offers highly personalized, evidence-driven wealth management solutions focused on helping you and your wealth make a substantial difference.    

What is Purposeful Investing?

As someone who has achieved personal financial success, you may be ready to contribute positively to our world. You can donate your time, contribute to causes near and dear to you, or invest strategically in companies aligned with your ideals and values. 

Why does this matter? When you invest with purpose, you’re not just building a portfolio of stocks. You can also construct a legacy that reflects who you are and what you stand for. Not only does purposeful investing help you stay committed to companies when market fluctuations might otherwise make you uneasy, but it also adds a layer of intrinsic motivation that traditional investing may be missing. 

The result is an investment portfolio that reflects who you are and what you care about, all while expanding your wealth with rising share prices.

That’s where a fee-only financial advisor in St. George can play a critical role in your financial future. Unlike brokers who are paid commissions by third parties to sell their investment products, the allegiance of fee-only advisors is always to their clients. This compensation method aligns the advisors’ allegiance with the success of their clients.

Cogent Insights: If you’re considering giving back through your investments, remember that purposeful investing is not just a trending buzzword—it’s a long-term commitment to a richer life and a better world. It starts with the right advisor to guide you in making sure your investments are truly aligned with your interests, beliefs, and goals.

Watch Our Video: “Your Solution to Uncertainty.”

Tailoring Your Investments for Purpose

As your wealth continues to expand, so do the complexities that impact the management of your investments. Your strategy should be about more than just chasing returns; it calls for a strategy tailored to your purpose in life. At this point, your assets become a means to an end.  

One important investment strategy is diversification, which is more than a way to minimize risk. It is about allocating your assets in a way that manages risk and achieves the goals you have for your assets.  

If you’re working with a fee-only financial advisor, you’ll likely discuss a variety of asset classes (stocks, bonds, alternatives, cash), sectors of the economy, and a global investment strategy that invests your assets for expected growth that fulfills your financial and personal goals.

Personalized advice from a St. George financial planner can help you make the right choices for yourself, your family, and the legacy you leave for future generations. 

Seek out an evidence-driven investment strategy to convert your hard-earned dollars into durable wealth so that you can achieve all that’s important to you. At Cogent, we start and end with the evidence. Choosing an investment philosophy based on 70 years of objective, peer-reviewed research on how markets work. We are enthusiastic advocates of financial science, and you should be too, but be warned, we know there will be times when looking to the science is not always easy. We recommend reviewing your investment strategy and portfolio holdings at least semi-annually to ensure your investments, beliefs, and goals remain consistent with yours.

Cogent Insights:  We recognize the financial markets are dynamic and subject to change. The same can be said for your evolving beliefs and commitments. Our role is to align the two perfectly, so you achieve your goals. With thoughtful planning and ongoing consultation with our experienced financial professionals, you can elevate your goals to have a real impact on society, your family, and your legacy. 

Why Consider Cogent Strategic Wealth?

Life is a continuous string of choices and compromises that require decisions on your part. You aim to make the right decisions and deal with the outcomes over time.  A frequent sentiment we encounter with current clients is that they are sacrificing too much—either buried in work, missing quality time with their families, or dedicated to a business that doesn’t reciprocate their loyalty. 

The same is true for business owners who invest so much time and energy in their businesses that it is hard to separate themselves from it.

This is where the value of a comprehensive financial plan has a major impact. It is a well-crafted financial strategy that makes lives more liveable until it is time for the next generation to take over. At Cogent Strategic Wealth, a financial plan is the foundation of our Design | Build | Protect process.  

I can attest to this from personal experience and observing clients transition to lives serving a greater purpose. Initially, their most frequent question was: “Is this all going to be worth it?”

Having a clear financial pathway not only lends purpose to your endeavors but also significantly reduces your stress levels.

The ripple effect of this clarity is remarkable—it makes you a better spouse, parent, and a more effective leader in your business. It empowers you to take charge of the variables within your control while equipping you to prepare for unpredictable events. Because let’s face it, life is unpredictable and can pull us in several different directions simultaneously.

So what is the bottom line? A strong financial plan doesn’t just keep you on the right track; it enriches your life in ways you might not have considered. And that’s a trade-off most of us would be willing to make.

Ready to learn more about our purposeful investing strategies? Connect with us. 

For informational and educational purposes only and should not be construed as specific investment, accounting, legal or tax advice. Cogent Strategic Wealth provides investment advice only through individualized interactions. Certain information is based upon third-party data, which may become outdated or otherwise superseded without notice. Third-party information is deemed to be reliable, but its accuracy and completeness cannot be guaranteed. Indices are not available for direct investment. Their performance does not reflect the expenses associated with the management of an actual portfolio nor do indices represent results of actual trading. Information from sources deemed reliable, but its accuracy cannot be guaranteed. Performance is historical and does not guarantee future results. Neither the Securities and Exchange Commission (SEC) nor any other federal or state agency have approved, determined the accuracy, or confirmed the adequacy of this article. © 2023, Cogent Strategic Wealth®