iscott Holistic WealthCare

The Ongoing Development of Holistic Wealthcare in 2025

1/14/2025

It’s amazing how the measure of money can distract us from our stated goals, inherent intentions and best interests. This subconscious force seems unavoidable and something we should recognize and address as we strive to make decisions more confidently in an increasingly distracting environment of information overload.

We’ve been developing and applying the “holistic wealthcare” methodology directly to financial planning and investment advisory client cases since first introducing the concept in November of 2018. I say “we” because I’ve been refining the holistic wealthcare innovation by collaborating with clients over the past 6 years with very encouraging results. The outcomes and the way we measure them suggest an increasingly productive road ahead as we can apply the “holistic wealthcare” approach to many, if not most, of our wider strategies and specific decisions.

What is “holistic wealthcare” (the short and simple synopsis)
A disciplined, wide-spectrum view of client well-being that subordinates quantitative metrics as the primary target and measurement.

In other words, holistic wealthcare allows us to strive for and measure more than money in our financial planning and investment decision making. It’s important to add that the holistic wealthcare philosophy is more of a complement to traditional financial planning than it is a compromise of it.

The Easiest Example
A thriving 48 year old wants to pay off her low interest mortgage. In theory, it’s a financial mistake. Her advisors, family and friends will oppose it every time. Holistic wealthcare enables her to make “the mistake” because it makes her feel well. The theoretical “mistake” is allowable because she is thriving. This decision compliments her overall well being rather than compromising it.

Another Simple Example
A 64 year old is planning to retire with a state workers pension. Delaying retirement by 10 months will increase the monthly retirement income by $162. They have been miserable at work and hate their job, resulting in wide-spreading, negative consequences at home and with personal relationships. None of their advisors ever considered a holistic wealthcare perspective because it falls outside of traditional financial planning and they never asked. The intrinsic value of 200 days of freedom from misery was never weighed against the monetary value of $1,944 per year (or $9.72 per day in the first year).

My clients, their affiliated advisors and I will continue to consider, apply and weight non-financial criteria to our decision making processes as a compliment to traditional financial planning strategies without compromising the value and integrity of them.

In other words, we’ll be practicing holistic wealthcare.

-D. Scott Bloom, CFP® January 13, 2025

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.

2025 Outlook

1/13/2025

2050 may come faster than we expect and it’s realistic that a child born today will be alive in the 22nd century. I suggest taking an optimistic perspective in 2025 and I’ll share some reasons for this with a holistic perspective of 2030.

Think back to Y2K and try to recall where you were that New Year’s Eve, what kind of phone you had and what computer brand you were using at the time. Now compare how your phone and computer have changed. Remember your landline, Compaq and Blockbuster Video? We’re halfway from there to 2050.

We can also look back as recently as our outlook in 2019 to see how society has improved for the better, net of the obvious challenges. The point of this exercise is to highlight how the pace of technological advancement continues to accelerate exponentially, transforming industries and improving societies at an increasingly rapid rate. The rules are changing more rapidly and there are opportunities for everyone, and more so for those of us who are paying closer attention and avoiding the tendency to be distracted by habitual norms.

The rules may be changing faster than our ability to pay attention to them.

Let’s stay in contact to exchange our respective developments across both personal and financial aspects so I can help us pay attention to when and where the opportunities for improvement are present. I’m looking forward to applying this optimism with you and, of course, to your continued success.

-D. Scott Bloom, CFP®

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.

iScott Outlook 2019

1/2/2019

The general public seems fooled into believing we can (or should try to) predict where markets, politics and economies are headed in the short and mid term. People who claim to stay well informed seemed tricked and trapped into believing they have the tools and a basis for predicting outcomes- of elections, markets and economies. Instead, most of us should, but fail to, focus on predicting our own behavioral patterns. I can look at this as a tragedy or an opportunity. To me, this is very low lying fruit and presents enormous opportunity.

So instead of going out on a limb, as I have in the past, and share my market forecast for the coming year, I’d be more wise (and likely accurate) to forecast what the average investor will say and do, especially in the wake of the past 3 months market correction. “Wait and see.”

Wait to see what happens. Wait until the uncertainty goes away. Wait for a safer time to decide.

The markets are virtually impossible to predict with any reliability. There is no evidence to refute this. The same can be said about the the economy, vis a vie Gross Domestic Product (GDP). There are no models or proven algorithms that have accurately predicted what will happen with markets and economies. We might all admit that we are often surprised by the outcomes and results of both. This is the nature of opportunity and risk. The past few years have revealed great proof of this.

What is much more predictable and worth paying attention to is human behavior, and namely, our own patterns of recurring behaviors when it comes to money and investing. This is what 2 decades of advising private clients has taught me to focus on. The practice of studying recurring patterns of predictable behaviors is also a tenet in the field of behavioral finance (aka behavioral economics). This helps explain why many people "buy high and sell low" and also why the pain of losing 10% hurts twice as much as the joy of gaining 10% feels good.

This is important to us right now BECAUSE it helps us choose what we shall pay attention to. It takes strict discipline that many, if not most, of us lack. When we realize that paying closer attention to others and, most importantly, to ourselves, we can see the conundrum of trying to predict market outcomes and get stuck in this trap. Most people I have observed (including myself at times) seem to waste time and energy trying to process information (basically the news) and formulate opinions of the next move in the markets and economies. Take election results for example. We are often tricked into thinking the polls are accurate. Forget for a moment whether polls are accurate or not on any given day. what is important is how we are led (or tricked into) believing polls are reliable. The same conclusion can be drawn with market predictions and the media trying to sway public opinion. I would like to see some very pessimistic commentators making huge personal bets against the markets to support their opinions- but they do not put their money where their mouths are.

I am extremely optimistic amidst a storm of pessimism and I have my reasons, not the least of which is reliance on the iScott Information Processing Algorithm and the sequential refining of data through it. But, if it were for nothing else, the public’s short attention span, lack of conviction and doubtful confusion from information overload are reliable enough in my view.

Here’s To A Healthy, Happy and Prosperous New Year
D. Scott Bloom, CFP®

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.

INFORMATION PROCESSING ALGORITHM

12/6/2018

This iScott algorithm may be used to organize and refine raw information derived from subjective and quantitative sources of facts and opinions that are successively filtered downward from top to bottom and validated, in sequence, from left to right, then combined into relevant and material data that can be applied to a disciplined, decision making process. It is neither a mathematical computation or calculation but may be thought of as an information deduction funnel that can apply reliability and relevance to various sources of information in sequences that are intended to help make decisions based on data that is refined and considered both reliable and material.

The iScott Algorithm- Information Processing Diagram
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information processing algorithm, iscott

Sources of information, information processing algorithm

SOURCES OF INFORMATION WORKSHEET

The following categories and specific information are first identified and considered as relevant or not before given a weighting as to how important to the overall information refining process.

Sources of Information Worksheet
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Holisitic Wealthcare

11/19/2018

Introducing Holisitic Wealthcare

Holistic Wealthcare starts where traditional financial planning reached its limits. A breakthrough in the field of finance, Holistic Wealthcare merges behavioral economics and ancient philosophy with the technical aspects of financial planning to address complex problems measured by non-financial outcomes- instead of strictly dollar denominated metrics.

Stated simply, it’s not just about “the mighty dollar”, but instead, the effects and outcomes wealth can produce. In other words, HWC explains why some “rich” people seem unhappy and examines the method and means to correct this before it happens. This new way of addressing problems is reserved only for those individuals who already understand that money and wealth is not the true answer to a fulfilled life and lasting happiness. Wealth can be a means to happiness but not when it is intended as an ends.

The field of finance and investment management may sometimes miss this point because they have answered the wrong questions to address the wrong problems instead of asking and addressing the right ones. Many of the problems that naturally follow in the path of wealth creation and transfer go unnoticed or ignored. These are the problems we uncover and address with Holistic Wealthcare.

D. Scott Bloom, CFP
iScott

Why the Question is More Valuable than its Answer

11/13/2018

D. Scott Bloom

Why the Question is More
Valuable than its Answer

The right answers to the wrong questions are incorrect. This is the perfect time to point this out
amidst the era of ‘fake news’ and the increasingly unreliable nature of Internet search results.

Try not to let this sound silly or insult your intelligence. Because if you think about a few
examples, you’ll see how this is a more common, yet subtle dilemma happening all around us,
everyday. In the process of trying to solve our doubts we are sometimes increasing them and
this may be happening right under our noses.

True or false: Almost everywhere we look, many people are quick to offer their answers or
solutions (ie: their informed opinion) to the world’s problems, the direction of the economy or the
outcome of next election. To be fair, an ironic example is my opinion of this dilemma is itself.
We see it on cable news shows, hear it on talk radio and read it on social media post replies:
Many are quick to offer their correct answer but few point out the correct or alternate question.
(For instance, like I am doing right here)

Current examples of possibly wrong answers to unvalidated questions:
Answer: Our education system can be fixed by doing Z.
Correct question: Which system exactly and what specific problems?

Answer: The solution to the immigration crisis is X.
Correct question: What is the immigration crisis exactly?

Answer: The best sector in economy right now is Y.
Correct questions: What does “best” sector mean, and to whom?
Is it the fastest growing or the most consistently growing? Or is it the one with the furthest to
grow? Why does defining it matter?

Answer: The best way to invest my 401(k) is X
Correct question: Have I made the maximum contribution yet? Do I consider employer matching
to determine this?

Pay a little attention this week in your environment and think about the abundance of answers
floating around and the relative scarcity of “correct question alternates”. In other words, look to
see who or what is questioning the questions. How this applies to our daily decisions is at least
as important as it is to our financial decisions.
Pointing this out is something I do to help my clients.
D. Scott Bloom, CFP

What Really Matters & Why

11/7/2018

Wealthcare financial planner, holisitc wealthcare

What Really Matters & Why
If you think about the infinite amount of information we have at our fingertips today, it’s seems overwhelming that we have to pick and choose what information really matters to our biggest decisions. In other words, what information is both reliable and relevant? How do we do this? Is there some method or system to test and validate the “stuff” that really matters?

In the context of financial planning and investment strategy, what really matters to our next important decision can vary widely depending on how we filter and process information, including identifying our influences and bias. Do we consider everything we need to? Do we exclude the information that doesn’t matter? Do we always consider our own inherent biases?

Looking in the mirror and being very honest with myself, the answer is usually no.

In my professional practice helping clients through the process of deciding some of life’s most important financial decisions, I’ve had to develop a systematic process to filter and test all of the raw “info-gredients” into well-refined, validated information we will use, together to make knowledgeable decisions. Over 20 years in this role, and from the dawn of the “information age”, I’ve had to evolve and adapt my skills to weed and sift through all the raw material.

This is relevant and you can relate to this when you see people making irrational decisions and these life mistakes transcend well beyond financial concerns. Immaterial factors can influence our decisions and usually weaken our chances of success, no matter how we measure it.

What is your process for refining information? Have you developed a disciplined process that you can strictly apply to almost any decision in your life?

Neither had I- until I did. The ability to extract usable knowledge from raw information is the most valuable tool I can use to help my clients.

D. Scott Bloom, CFP®

Looking at Objects from Multiple Perspectives Helps Us See More

2/20/2013

Do you consider your investments from multiple perspectives?

Most of the time, when we look at an object or we look at any situation, we tend to look at it from a singular perspective, from our own view. But we were to force ourselves to consciously look at a single object or situation from varying, multiple perspectives, even if they’re ones we don’t want to look at, we see more of the object, we see more of the situation. And when we can see more of the situation, we are in a lot stronger of a position to judge the situation. Pointing this out is something I do to help my clients.

-D. Scott Bloom, CFP

The opinions voiced in this material are for general information only and are not intended to provide specific investment advice or recommendation for any individual. To determine which investment(s) may be appropriate consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of future results. All indices are
unmanaged and cannot be invested into directly.

LPL FINANCIAL Member FINRA / SIPC

WELCOME TO iScott

2/19/2013

CFP financial advisor holistic wealthcare

The Heart vs. The Head

2/6/2013

Do we decide with our hearts, or with our heads?

Major financial decisions and financial situations on their own, tend to be very emotional and tend to bring out the emotional sides of us and make us fearful, greedy, hopeful. Which part of our bodies do we use? We know that financial matters and major financial decisions make us emotional. If we can consciously move the decision making process from our emotional self and build that up to our cognitive, rational self, in our mind. Then we’re doing something smart because emotions are proven to be hugely unreliable when it comes to making major financial decisions. Instead, logic and rational in the cognitive part of our body, our brain, tend to be extremely reliable. So we need to recognize this and realize it. This is something I do for my clients.

The opinions voiced in this material are for general information only and are not intended to provide specific investment advice or recommendation for any individual. To determine which investment(s) may be appropriate consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and cannot be invested into directly.

LPL FINANCIAL Member FINRA /
SIPC

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