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Are you courageous?

Are you courageous?

December 13, 2022

A culture of courage is built on strong pillars. This past week, the Reagan-Udall Foundation issued a report, Operational Evaluation of FDA’s Human Foods Program. It is an objective analysis of how well the FDA is functioning, and the report was initiated after the recent baby formula tragedy. 

The Foundation pointed out the strong commitment and care shown by employees but found fault that a clear organizational vision was not in place nor was there strong leadership. Essentially, the workers did not have the firmament to be able to stand strongly. 

Reviewing the report, I zeroed in on culture as an area of analysis. In the report, the first listed component of culture was courage. It’s interesting how the components of an organization are like the components of an individual. Fundamental to courage is knowing your ethics and values.  

How does this relate to investing? Advisors work with clients to create an important document known as the Investment Policy Statement (IPS). The IPS is based on the client’s risk tolerance and objectives. It is in some ways akin to a mission statement. It creates the parameters on which a specific client investing is based. 

The IPS can also serve the client in another way. The IPS keeps both parties, advisor and client, grounded so when the economic winds are turbulent, there can be the courage of knowing the mission. 

For friends with the FDA, I see the report as supportive to the dedicated public servants who want to make a difference and stand for the best interest of public health. 

Let’s talk about your objectives and align your investments. Give me a call, I want to hear your vision.