By D. Scott Bloom, CFP®
This article seeks to validate holistic wealthcare as a sustainable innovation in financial services and demonstrates how its application to investment advice and financial planning can lead advisors and their clients to achieve immensely more abundance and well being than traditional financial industry models. More importantly, this effort asks you to explore and uncover hidden opportunities to improve and sustain your overall results when you apply the holistic wealthcare methodology to your financial goals.
It starts with two basic premises and asks readers for validation of both. From there, we build on these foundations to form a basis for a rationale to apply the Holistic Wealthcare approach to financial decision making and methods to identify when to do so.
The first premise: Groupthink impedes exceptional results.
Example:
Groupthink describes members of a group - in this context, traditional financial advisors- who prioritize consensus and cohesion over critical analysis, individual opinions, or alternative solutions. Conformity to traditional norms prioritizes the harmony of adhering to the “status quo” the expense of critical evaluation and independent thinking. The pressures to conform to acceptable schools of thought create illusions of consensus that dismiss alternative strategies resulting in overconfidence in conventional decision making. In simple terms: Groupthink breeds complacency, leading us to substandard outcomes that work against our own best interests.
The second premise: Focusing on purely financially measured and tangible outcomes at the expense of subjective, non-tangible considerations impedes exceptional results and outcomes of comprehensive wellbeing that compliment wealth.
Example:
If markets are unbeatable over the long term and Efficient Market Theory is indeed valid, then the pursuit of sustainable, exceptional financial performance is elusive, at best, when measured solely in monetary metrics. In simple terms: When “more money” is the primary cause, the only resulting effect is “more money”. Then what?
If we can simply agree on the merits of these two foundational premises above, a case emerges to validate holistic wealthcare as a more efficient means to deliver investment advice and to achieve long term well being. The old model that equated well being with dollars is broken.
The world of financial services is all about money. By definition, by habit and by all reasonable critical observation, the money business is about money. Period. The End.
If that is true (and let’s assume for a moment that it is true), what are the effects of succeeding in the world of finance, or any other business pursuit when the outcomes are measured monetarily?
Practical Observation
A business owner said they were laser focused on the goal of “becoming the biggest company in the industry”. All of their effort, energy, time and resources were being dedicated to becoming the biggest. All of this focus on “biggest” came at great compromise and sacrifice of other parts of their life. Relationships, health and all of life’s truly important facets were being consciously subordinated to the goal of becoming the biggest. There would be nothing to stop this business owner and nobody else would impede them. That is, until they, themself, could take a few hours (or an entire day) to ask themself two easy questions:
The” biggest” is measurable in quantitative terms only, in volume of dollars and/or percentages represented in economic terms, (revenue, profit, market share or capitalization). Not only is “biggest” all about the money, it is ONLY about the money.
Conversely, we measure the “best” both ways, expressed in qualitative (subjective) terms and quantitatively in dollars. “Best” can (and usually does) include economic metrics, but the “best” is ALWAYS about more than money. In most cases, the ‘best” is less about economic volume and more about subjective qualities such as consumer favorability, brand reputation and public relations.
In the evolving landscape of financial services, Holistic Wealthcare emerges as a financial technology innovation by redefining success metrics and transforming how we measure and achieve client well-being. This disciplined approach prioritizes quality over quantity, urging a shift from purely numerical outcomes to a more balanced, comprehensive view of success. Traditional financial models have long been driven by metrics like revenue growth, return on investment and portfolio size, but holistic wealthcare challenges this paradigm by emphasizing intangible outcomes that support sustainable, multidimensional well-being.
By integrating this philosophy into fintech, astute investment advisors and financial planners can transcend the limitations of groupthink and monetary tunnel vision. They create solutions that focus not only on growing wealth but also on aligning financial strategies with personal values and life goals. This shift may enable clients to achieve not just financial abundance but also meaning, greater satisfaction, and overall life quality—proving that when quality leads, quantity follows naturally. Holistic wealthcare, therefore, is more than an innovation; it is a re-imagination of what true wealth means in a modern, interconnected world.
-By 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.
This article seeks to validate holistic wealthcare as a sustainable innovation in financial services and demonstrates how its application to investment advice and financial planning can lead advisors and their clients to achieve immensely more abundance and well being than traditional financial industry models. More importantly, this effort asks you to explore and uncover hidden opportunities to improve and sustain your overall results when you apply the holistic wealthcare methodology to your financial goals.
It starts with two basic premises and asks readers for validation of both. From there, we build on these foundations to form a basis for a rationale to apply the Holistic Wealthcare approach to financial decision making and methods to identify when to do so.
The first premise: Groupthink impedes exceptional results.
Example:
Groupthink describes members of a group - in this context, traditional financial advisors- who prioritize consensus and cohesion over critical analysis, individual opinions, or alternative solutions. Conformity to traditional norms prioritizes the harmony of adhering to the “status quo” the expense of critical evaluation and independent thinking. The pressures to conform to acceptable schools of thought create illusions of consensus that dismiss alternative strategies resulting in overconfidence in conventional decision making. In simple terms: Groupthink breeds complacency, leading us to substandard outcomes that work against our own best interests.
The second premise: Focusing on purely financially measured and tangible outcomes at the expense of subjective, non-tangible considerations impedes exceptional results and outcomes of comprehensive wellbeing that compliment wealth.
Example:
If markets are unbeatable over the long term and Efficient Market Theory is indeed valid, then the pursuit of sustainable, exceptional financial performance is elusive, at best, when measured solely in monetary metrics. In simple terms: When “more money” is the primary cause, the only resulting effect is “more money”. Then what?
If we can simply agree on the merits of these two foundational premises above, a case emerges to validate holistic wealthcare as a more efficient means to deliver investment advice and to achieve long term well being. The old model that equated well being with dollars is broken.
The world of financial services is all about money. By definition, by habit and by all reasonable critical observation, the money business is about money. Period. The End.
If that is true (and let’s assume for a moment that it is true), what are the effects of succeeding in the world of finance, or any other business pursuit when the outcomes are measured monetarily?
Practical Observation
A business owner said they were laser focused on the goal of “becoming the biggest company in the industry”. All of their effort, energy, time and resources were being dedicated to becoming the biggest. All of this focus on “biggest” came at great compromise and sacrifice of other parts of their life. Relationships, health and all of life’s truly important facets were being consciously subordinated to the goal of becoming the biggest. There would be nothing to stop this business owner and nobody else would impede them. That is, until they, themself, could take a few hours (or an entire day) to ask themself two easy questions:
- How does one measure “biggest” and in what terms?
- Could one shift their goal to “becoming best” instead of “becoming the biggest” and how is that measured?
The” biggest” is measurable in quantitative terms only, in volume of dollars and/or percentages represented in economic terms, (revenue, profit, market share or capitalization). Not only is “biggest” all about the money, it is ONLY about the money.
Conversely, we measure the “best” both ways, expressed in qualitative (subjective) terms and quantitatively in dollars. “Best” can (and usually does) include economic metrics, but the “best” is ALWAYS about more than money. In most cases, the ‘best” is less about economic volume and more about subjective qualities such as consumer favorability, brand reputation and public relations.
In the evolving landscape of financial services, Holistic Wealthcare emerges as a financial technology innovation by redefining success metrics and transforming how we measure and achieve client well-being. This disciplined approach prioritizes quality over quantity, urging a shift from purely numerical outcomes to a more balanced, comprehensive view of success. Traditional financial models have long been driven by metrics like revenue growth, return on investment and portfolio size, but holistic wealthcare challenges this paradigm by emphasizing intangible outcomes that support sustainable, multidimensional well-being.
By integrating this philosophy into fintech, astute investment advisors and financial planners can transcend the limitations of groupthink and monetary tunnel vision. They create solutions that focus not only on growing wealth but also on aligning financial strategies with personal values and life goals. This shift may enable clients to achieve not just financial abundance but also meaning, greater satisfaction, and overall life quality—proving that when quality leads, quantity follows naturally. Holistic wealthcare, therefore, is more than an innovation; it is a re-imagination of what true wealth means in a modern, interconnected world.
-By 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.