Ross Levin FINANCIAL LIFE PLANNING
Ross Levin FINANCIAL LIFE PLANNING
thought that I was more important to the business because I was responsible for bringing in clients . But I wasn ’ t doing a great job of that , and ironically I resented Wil for not doing what I was supposed to be doing . I found myself becoming self-righteous . It took me going to therapy in my late 20s to finally accept the fact that I dealt with my own insecurities by deflecting them onto others .
Once I was able to accept my flawed self , our partnership prospered . ( I suspect
Guess what ! Good fortune is not a zero-sum game , and there is more than enough to go around . I don ’ t know if it is maturity or some sense of karma , but whenever I do something for others , I immediately feel good .
Wil may have had reservations about me early on , too .) While our relationship hasn ’ t been without its challenges , we recognized we needed each other and still believe and trust in each other . Without Wil managing the business and hugging our clients , we never would have grown to a staff of 60 and over $ 3 billion in assets . Ego is the enemy !
Good and bad things happen every day . Don ’ t focus on either one .
One of the things that I focus on in my daily meditation practice is equanimity . While I am a very expressive person , in business I don ’ t get too excited when things are going well or too down when they aren ’ t . And every day I encounter the good and the bad . I believe my sense that we can handle whatever happens has helped us get through some very challenging years . That includes the time a partner left to compete with us and a time very early in our careers when we lost two of our largest clients at a moment we were barely keeping our heads above water . That ’ s not to mention several market upheavals .
But my composure has also kept my head from getting too big when things are going well . If I rely on the positive feedback of others to establish my standing , then I am not on firm footing . Legacy can be a silly thing to pursue . It ’ s often built on how others view you , and from where and who they are , more than on who you are . Of course I feel good when someone says something nice about me , but I ’ m unlikely to let it have an enduring impact on me . If you try to do the right thing , in the right way , at the right time , then you can be comfortable with your process , regardless of the results .
Help enough people get what they want and you ’ ll get what you want .
Early on in my career , I heard motivational speaker Zig Ziglar say that . This message in different forms rings through all the great spiritual traditions . Another concept I meditate on is sympathetic joy — or being happy for the happiness of others . I admit that for many years I used to get annoyed when I saw someone get attention that I felt I deserved . That ’ s a loser ’ s game . I started channeling that negative energy into being happy when others were experiencing good fortune .
Guess what ! Good fortune is not a zero-sum game , and there is more than enough to go around . I don ’ t know if it is maturity or some sense of karma , but whenever I do something for others , I immediately feel good . When I was on the national board for the International Association for Financial Planning ( along with the Institute of Certified Financial Planners , a precursor to the FPA ) in my late 20s , I attended my first meeting . I must not have got the memo that new board members were to be seen but not heard . I spoke more than I should have , and the board chair , a tough , North Carolinian named Larry Carroll , gave me a couple of stares that immediately melted the ice in my Coke .
But when I returned to Minneapolis , I received a handwritten note from him that said , “ You will someday lead this organization .” He was right , and I owe him a debt of gratitude . Even more important , he taught me the importance of handwritten notes and the impact they can have . I kept that note taped to my office computer from the time I received it until my final speech as chair as a reminder of what was possible if I believed in myself the way he did . I don ’ t think this conflicts with my previous thought about how you let yourself be perceived by others , but it shows that others may be able to see you more clearly than you see yourself .
I could fill dozens of fortune cookies with various thoughts like this , but it was hard enough to build a practice . Starting a restaurant is out of the question .
ROSS LEVIN is co-founder of Accredited Investors Wealth Management in Edina , Minn .
20 | FINANCIAL ADVISOR MAGAZINE | JULY / AUGUST 2023 WWW . FA-MAG . COM