Charting
the Course

Mottos can be powerful tools. Branding experts and corporations have been using them for years, and certain corporate slogans are so engrained in our social consciousness that they take on a life of their own. We can remember them, but we’re a little fuzzy on who said them in the first place.

Nike has been saying "Just Do It" for a generation, and who knows how long Lays has been using, "Betcha Can’t Eat Just One." For those who really want to know, KFC began saying "Finger Lickin' Good" in 1956.

But we don’t have to be a business or a company to have a motto. Anyone can have a values statement. They should be brief, easy-to-understand phrases that represent who we are and what we value. We want them to be anchors, and reminders that help us stay focused, centered, true to our goals and committed to what we believe in.

For an investor and retirement saver, a personal motto carried over a lifetime could be worth a fortune.

Your motto doesn’t need to be a tag line like McDonald’s, "I’m Lovin' It." You might want it to be a mission statement. You could use it to define the goals you have for your funds, and you can use it as a filter for considering large purchases or for analyzing an investment portfolio.

Daniel Crosby is a clinical psychologist and behavioral finance expert. He’s spent years teaching the financial world how a values statement can provide the guiding principles investors and retirement savers can use to navigate the uncertainty of financial markets.

In Crosby’s latest book, "The Soul of Wealth," he highlighted research that found "a goals-based investment strategy leads to more wealth accumulation, period." He mentions the importance of giving a "why" to your wealth by establishing the right goals based on your unique values.

The "why" or the value statement does not need to be complex. Better yet, make it so that it is explainable to a child. After all, your family is who you will be explaining it to. Because, if you don’t talk about it, it might not come to fruition, and if you’re not talking to your spouse about it, and not talking to your kids about it, how on earth can you expect the next generation to understand it or to be encouraged to use it?

Teaching values to our children and our grandchildren and showing them how to have a healthy relationship with wealth in this fast-moving world is essential to generational wealth transfer.

For me, I found a simple, yet challenging statement from English Theologian John Wesley, who used the phrase in his 18th century sermon titled, "The Use of Money." The words are written on a piece of paper that hangs above my desk, "Earn all you can, Give all you can, Save all you can."

When we hear economists outline the state of things, we usually hear about the GDP and CPI along with a rundown on unemployment rates and interest rates. They explain the current economic conditions but are reluctant to predict much about the future.

For that, they lean on all of us through monthly surveys that measure how we feel about what’s over the horizon. And since the presidential election last month, most people have been feeling pretty good about the future.

One index that reflects how optimistic we are about the economy jumped more than 7 points since before the election, reaching 54 in December, the highest level since the summer of 2021. And that’s probably accurate, judging from what you see on the street. Just walk outside and there’s optimism everywhere. Business owners are thinking of expanding in the new year, and people are talking more seriously about buying new homes and new cars.

Optimism can be a powerful driver in a difficult environment, prompting people to do things they wouldn’t consider otherwise, which can generate momentum for a flagging economy. As we all know, optimism can be contagious, and if you doubt that, just sit in the stands and listen to the crowd cheer as your home team makes a fourth-quarter push for a last-second field goal to win the game.

So, it’s not surprising to see when optimism can overtake good judgement in financial markets, where investors throw caution to the wind and bet everything on a hopeful economy and bullish stock market.

There is nothing wrong with confidence and optimism. Lord knows, with all the uncertainty and volatility we’ve seen since the pandemic, we could use a good night’s sleep. But the prospect of greater prosperity is no reason to forfeit the fundamentals and discipline that got us where we are in the first place.

As hopeful as we are, there is good reason for investors and retirement savers to be cautious. Our national debt is too high, and inflation is a problem along with interest rates and credit card debt. Geopolitical tension is also a worry, so in light of all that, some type of event could still shake confidence and jostle markets.

As investors, we should look at things the same way we did during the previous administration and maintain our true north. Unless there has been a dramatic change in your life, the balance of your investments, and your financial plan should be the same as they were a year or two ago.

If equity markets continue to do well, that’s good news and you’re likely to do well, but if there’s a disruption, you’re protected by the bonds and the more stable investments on the other side of your portfolio.

Just remember the greatest lesson any of us ever learned from our grandparents, “Don’t put all your eggs in one basket.”

If we can follow that advice, there is plenty of room for optimism in 2025.

As the mother of a one-year-old, I know how hard life can be sometimes, between the feedings, the changings, the late nights, the early wakeups and the never-ending vigilance. Thank goodness for coffee and power naps, but mostly, thank goodness for the family and friends who are always there to lend a hand when I need it the most.

In the life of a parent, I know that time moves fast and these early years with my daughter, Rylee, will soon give way to new adventures. But as we move into the holidays and this season of giving, I can’t help but reflect on what I’ve learned in my first year of parenthood.

While I’m grateful for all of those who have provided me with love and support, I’ve found myself thinking about the parents who are facing the same challenges without the support network that I’ve had.

Those kinds of stark contrasts are often overlooked. These are the holidays, and we all give, but do we really know who we are giving to, and do we realize the impact we are making on their lives?

If we can’t say yes to that question, then we might be missing out on one of the fundamental joys that come from giving. In this season of giving, there are opportunities to connect and get involved with local organizations.

We can serve meals at a homeless shelter, volunteer at a Boys and Girls Club, serve at Pivot, Inc. or some other local agency. By looking a little deeper, it’s easy to learn more about the lives of people who are benefiting from the organizations we support, and when we allow ourselves time to do that, we find our contributions are even more meaningful.

I remember, as a child, going with my parents to serve Thanksgiving dinner to the homeless. Those were meaningful, formative memories, and I want my daughter to have that same kind of experience. Whether we’re serving meals at City Rescue Mission, taking donations to Infant Crisis Services, or adopting a Christmas wish list, she will feel what it’s like to help and love others.

And that’s a feeling worth enjoying year after year. And to help facilitate a lifetime of giving, it could be a good idea to establish a Donor Advised Fund (DAF) to create tax advantages that make giving on a regular basis easier.

Cash, securities and a variety of other assets can be deposited into a Donor Advised Fund, and those holdings can be used anytime to make tax deductible contributions to IRS-qualified public charities. DAFs can be a much simpler option compared to private foundations, and they allow assets to appreciate tax-free, which can increase the impact of a family’s giving.

Using the fund to make all charitable contributions allows simplicity of tracking donations, and a DAF can be used to make donations anonymously. In addition to those benefits, assets that appreciate within the fund are not subject to capital gains taxes.

Giving is important, no matter how we go about it, but the act of sharing and loving others can be so much more personal, meaningful, and rewarding with just a few extra steps. And there’s no better time to start enriching our giving experiences than in this season of giving. Merry Christmas.

Women, regardless of age, marital status, or career path, have a unique opportunity to shape their financial destinies. With longer lifespans and increasing financial influence, it's crucial to prioritize financial literacy and planning.

Whether you're a seasoned professional, a stay-at-home mom, or just starting your career, taking control of your finances is empowering. It's about more than just money; it's about securing your future and achieving peace of mind.

Here's why it's essential:

• Longevity: Women tend to live longer than men, meaning they need to plan for longer retirements and potential healthcare costs.
• Financial Power: Women are increasingly becoming the primary financial decision-makers in their households and are wielding significant influence in the economy.
• Life Transitions: Divorce, career changes, and caregiving responsibilities can impact financial stability. Being prepared is key.

It's never too early or too late to start taking control of your finances. Young women should prioritize saving early, even if it's just a small amount, and explore retirement accounts and investment options. Working women should consistently contribute to retirement savings plans and consider seeking guidance from a financial advisor. Women facing major life transitions like divorce or career changes should seek professional guidance to navigate their financial situation. Remember, financial planning is for everyone, not just the wealthy. It's about creating a budget, setting clear financial goals, and making informed decisions about your money.

Here are some simple steps to get started:

• Track your spending: Understand where your money goes each month.
• Create a budget: Set realistic spending limits and prioritize saving.
• Build an emergency fund: Aim for 3-6 months of living expenses.
• Save for retirement: Contribute to a 401(k) or IRA.
• Seek professional advice: A financial advisor can help you create a personalized plan to build a strong financial foundation and achieve long-term security and prosperity.

Taking charge of your finances is an investment in yourself and your future. While money can be complicated, overwhelming and even scary sometimes, remember that you have the power to shape your financial future. It's about building confidence, achieving financial independence, and creating a life of security and abundance.

Start today, and embrace the journey to financial empowerment.

When our daughter is at an appropriate age, we will add her as an authorized signer to a credit card. While that may seem like a scary undertaking, it’s a lot less scary than watching her learn about credit card debt the hard way.

Like anyone, we want the best for our child. We want her to be successful in school, we want her to be a hard worker, respectful to others and we want her to be happy and healthy. And just as importantly, we want her to know about money. We want her to understand how to earn it, how to save it, invest it and share it for the benefit of others.

And we won’t accomplish all that though conversations at the dinner table or on the way to soccer practice. Financial management is one of the most important skills parents can teach their children, but it’s not like learning how to recite the ABCs. These lessons take time, patience and take place in stages

Our daughter is only 10 months old, but it won’t be long until finance 101 begins in the Vanlandingham household. Trips to the grocery store will be learning experiences as we add up what’s in the cart and count out what we owe at the check-out stand. There are also games, apps, books and other resources available, so parents can choose what works for them, and lines up with their values and goals.

In addition to games, there will be allowances, pay checks and checking accounts. As she grows, she’ll hone her financial literacy skills first-hand, earning money by doing chores at home or working part-time jobs. Like most kids, she’ll have no problem spending her money, but we will also teach her how to save it, invest it and share it.

Later, we will open a custodial Roth IRA for her, so she can learn the benefits of saving and investing for the future and know that it’s never too soon to start. Imagine how great it would be to learn that lesson early, and then have access to hundreds of thousands of tax-free dollars upon retirement later in life.

In our home, money is a family affair. We don’t hide it. We discuss it and our daughter will be involved in those conversations. She’ll learn the value of money and she’ll learn the importance of budgeting. And, because she’ll be part of the discussions, she’ll know things like family vacations don’t just happen. She’ll learn that you plan ahead for big expenses and save your money, so you’ll have what you need when time comes for the big purchase.

Financial management is an area full of lessons that teach young people responsibility in very tangible ways. Which brings us back to that credit card account that our daughter will be using before college.

Through that experience, she’ll know about credit, she’ll understand how credit ratings work, and she’ll know to walk away when she sees someone at the student union offering free t-shirts in exchange for credit card applications.

When that happens, she’ll have taken another step forward in her life-long journey toward financial prosperity, and that’s an accomplishment any parent can be proud of.

Press Release

OKLAHOMA CITY – After only six years as a Registered Investment Advisor, Oklahoma City-based Full Sail Capital has reached $2 billion in assets under management, a rare threshold of achievement that has been built on a foundation of authenticity, service and passion.

Established in 2018 by three veterans of the financial industry, Full Sail Capital was founded with zero assets under management, but quickly grew its client base, surpassing the $1 billion mark during the COVID pandemic and reaching the $2 billion milestone for the first time in late July. Today, the firm serves more than 650 households, all with ties to Oklahoma.

Co-founders David Stanley, chief executive officer; Scott Cravens, chief operating officer, and Zac Reynolds, chief investment officer, are proud of the firm’s Oklahoma roots.

Full Sail has grown one-client-at-a-time, the co-founders say, and the firm was built through a culture that cares about people and it is driven by a growing team of talented employees who love what they do.

“Full Sail’s family culture is another reason for the firm’s success,” CEO Stanley said. “Clients are part of the Full Sail family, and we want to help them, sometimes in ways that have little to do with finance. That’s what makes Full Sail unique, and it’s one of the reasons behind the firm’s rapid growth.”

Full Sail Capital was established as a fiduciary, placing its clients’ interests ahead of their own, and the firm’s wealth advisors offer a variety of services, such as investment management, financial planning, estate plan consulting, real estate advisory, qualified plans expertise and family office services.

Comparing Full Sail to other financial institutions can be difficult because of the variety of regulatory classifications, rules and the interstate business models of so many firms and banks that serve Oklahoma City. But Full Sail’s $2 billion achievement distinguishes the firm as one of the largest Registered Investment Advisers (RIAs) in the state.

Of course, the assets under management measure can vary over time because of natural market volatility, but Full Sail Capital was pleased to have reached that milestone for the first time last month. As an RIA, the firm updates its assets under management at the end of each calendar year in a report available at: adviserinfo.sec.gov.

“While the $2 billion milestone is significant, we are most grateful for the opportunity to help so many families plan for their futures, build their dreams, and enjoy peace of mind,” Stanley said.

For most of us, goals are an important part of our lives because that’s one of the ways we get things done. We have short-term goals, like losing 15 pounds before a beach vacation, and long-term goals like earning an MBA.

Some goals may not matter that much in the grand scheme of things while others may mean everything to us, and those are the ones that are hardest to achieve. In many cases, we count on others to help chart a path to our goals and stay with us along the way.

Olympic swimming icon Michael Phelps attributes much of his gold-medal success to his dogged coach Bob Bowman. And would Tom Brady have won all those Super Bowl rings without Bill Belichick?

Almost everyone has had a coach, a teacher, a mentor or someone in their lives to show them a point on the horizon and then help guide them to it. And those advisors are not just for the young or the athletic.

In the financial world, advisors are important no matter how old the client is. Advisors lend their expertise on markets and investing strategy while employing the tools necessary to analyze opportunities, assess risk and chart growth plans. While all of that is essential, the relationships advisors have with their clients are at the heart of what they do.

They help clients set goals and make financial plans, but that’s the easy part. The hard part comes when storms arise, obstacles pop up and distractions develop. Tom Brady would tell you the road to a Super Bowl championship is rarely a straight line. To get there takes discipline and accountability to the plan.

And just like Tom Brady needed his coach by his side, investors benefit from advisors who can help them stay on course. Everyone knows markets are not always predictable. Bull markets bloom while bear markets seem to drag out forever as investors ride waves of emotion ranging from jubilation and happiness to fear and frustration.

Greed and fear are natural elements within the investing world. In bull markets, it’s easy to make bold investment decisions, forgetting that a market downturn could be just around the corner. And who hasn’t felt the urge to sell assets amid the frustration of a bear market?

But emotional decisions will almost always lead to costly decisions and the value lost because of them is not easily recovered. Like any good coach, advisors hold their clients accountable, keeping them on course when they would rather jump overboard when waters get rough or from steering into the rocks when tailwinds get strong.

They see markets through a lens of opportunity – not emotion – sometimes advising clients to buy during down times and to sell when prices are high, capturing value that occurs from the ebb and flow inherent in financial markets.

In sports and investing, winning is never guaranteed, but athletes and investors with plans are more likely to succeed than those who are guided only by their emotions. Just ask Tom Brady.

With emerging technology and an abundance of digital options for savers and investors to use these days, it’s easier than ever to access markets and track your financial information.

When the Philadelphia Stock Exchange opened more than 200 years ago, investors had to have a broker to help them buy and sell financial instruments. But today, buying and selling is only a few mouse clicks away for millions of people who now have enormous technological power at their fingertips.

App-based platforms that are rich in analytics are making markets more accessible, while artificial intelligence along with machine learning tools are helping people gather up-to-date information, review their portfolios and identify trends like never before.

In short, a technological revolution in the financial industry is in full gait and the financial planning profession will undoubtedly be impacted greatly. With all this technology and access, one may ask who needs an advisor anymore with so many online investment platforms available at low or no cost at all?

Meanwhile, the number of financial advisors appears to be on the decline with reports that more than a third of the industry’s advisors will retire within the next decade. At the same time, fewer students are earning finance and accounting degrees these days, reducing the pool for potential new advisors.

On the surface, all of that may seem like a concern, but in reality, this is just another day in the modern world. Technology is disrupting just about everything right now, and through it all, we are being reminded that human interaction has not lost its value. In fact, we are learning that a handshake, a friendly face and a relationship with someone you know and trust may be worth more than ever.

Jobs, businesses, families and other obligations demand our time and make it difficult to keep up with all the complexities of shifting markets and risk matrices. When their life savings and future dreams are at stake, many people still feel better when they have financial professionals standing behind them.

But the role of a financial advisor is evolving. Clients now have a broader range of expectations and advisors are beginning to offer a wider variety of services that are not necessarily within the traditional context of asset management.

It’s not just about stocks and bonds anymore. Today’s planners are also thinking about babies, children and college students. They’re thinking about brothers, sisters, parents, and grandparents. They keep track of new jobs and big dreams, as well as weddings, and funerals.

They’re now spending more time on their clients’ life issues, such as healthcare, wealth protection, real estate, education, family dynamics, behavioral biases and the plethora of other challenges of day-to-day living.

And why wouldn’t they? Life is at the center of everything today’s advisors do. The whole purpose of financial plans, retirement savings, investing and wealth management revolves around families, their security, their health, their dreams and their futures.

The world is changing fast, and the role of today’s financial advisor is changing right along with it because we know that, with technology, there will always be gaps. The only way to fill those voids is through the hands-on involvement that only comes through personal relationships, and that is something that will never change.

We’ve all heard the fairytale stories and happily ever after fables of newfound wealth. We may even dream about winning the lottery, inheriting a million dollars, or hitting it big in Vegas.

But newfound wealth is no dream. The fact is windfalls are a reality for more people than you might think, and they have nothing to do with the lotto and they don’t require a trip to Navada.

According to wealth management firm Cerulli Associates, some $50 trillion will be passed down from Baby Boomers to their Generation X, Millennial and Generation Z heirs between now and 2045.

While that may sound like great news, there’s a catch that frequently stands in the way of “happily ever after” outcomes that so many of us dream of. Seven in 10 families tend to lose their fortunes by the second generation and nine in 10 lose it by the third generation, according to a 20-year study by The Williams Group.

Without going into details of the 3,200 families involved in the study, the outcome illustrates how difficult it can be to manage money and how easily wealth can evaporate without a savings and investment plan. There is no doubt that newfound wealth can change a person’s financial perspective, clouding decisions about spending, sharing, and investing.

In those circumstances, financial advisors can step in to take emotions out of the equation and provide personalized advice based on specific situations.

Unexpected wealth can present surprises that financial professionals can help navigate, and windfalls can come in many forms, such as IRAs, 401ks, cash, real estate, stock and so many others. Each type of asset can come with unique tax implications. And no one wants to be surprised by a tax bill from an unexpected financial gain, especially if the taxes could have been mitigated through professional advice.

Some individuals and families already have estate plans set up and teams of financial advisers in place to help incorporate new assets into existing portfolios. For those who do not, help is never far away, and it’s not too late to reach out to financial professionals who can recognize the red flags and provide strategies to avoid them.

While windfalls can be exciting, they come with responsibility and plenty of questions. You’ll want to re-evaluate your financial plans and assess your new tax position. That’s why your first call should go to trusted financial professionals, starting with a financial advisor bound to act in their clients’ best interests, as well as a CPA and an attorney.

Newfound wealth is no dream. Whether it is expected, or it comes out of the blue, life-changing windfalls happen. The question is, what happens next.

We all know about the stages in life, but it’s sometimes easy to overlook the fact that we live through stages in our financial lives as well.

That starts with our first job, probably in high school, and it continues as we begin our careers, then get married, purchase a home, start a family, put children through college, plan for retirement and so on. Our lives and our financial lives tend to blend, so we frequently overlook the difference between the two.

But there is a difference. And just as we envision the long-term paths that we would like our lives to take, we also should consider our financial futures as well. We should consider things like savings strategies, investment strategies, college savings plans, tax strategies, retirement planning, estate planning, and legacy planning.

And it’s never too early to start, because there are plenty of people who have started later in life, and they’ve ended up saying, “I wish I knew then what I know now.”

Technology has driven industry changes that have made financial information and resources more widespread and accessible, opening the door for more people to invest, often encouraging saving and investing at younger ages – which is great. And you can read about the differences between a traditional IRA and Roth IRA, nuances of pre-tax 401ks or Roth 401ks, which investments create income tax, and which are taxed at capital gains rates, etc. all day long, but how will you know which is right for you and your situation?

Planning is different than investing, and regardless of the point in a person’s financial life, it’s a good idea to talk to a financial advisor about savings strategies, investment vehicles, tax liabilities, and ways to mitigate future taxes. Financial education is important, and people should seek out financial professionals who are genuinely interested in learning about their needs, goals, objectives, and what keeps them up at night. Ideally, people can walk away from these conversations with more peace of mind and a better understanding of the value that a trusted advisor can often bring.

It’s easy to get complacent with how we are saving and investing now. But before investors and savors get too far down the road, they should reach out to a professional who can help guide their path with transparency and integrity, so they won’t end up like so many others proclaiming the age-old mantra.

“I wish I knew then what I know now.”