Selecting Financial Counseling

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Selecting financial counsel by Crown Financial Ministries "A wise man will hear and increase in learning, and a man of understanding will acquire wise counsel" (Proverbs 1:5). A commonly asked question is, "How can I find good Christian counsel?" But perhaps even more fundamental would be the question, "How can I tell when I find good Christian counsel?" There are many guidelines in God''s Word for seeking and selecting good counsel. The purpose of counsel is to aid us in making our decisions, not to actually make them for us. Too often we want someone to tell us what to do. When you allow someone else to tell you what to do, with rare exception you're going to get bad advice. Principles for selecting counselors Principle #1: Christian Counsel Select your counselors on the basis of a common value system. For the Christian, this means to choose those who acknowledge Jesus Christ as their Savior and Lord. "How blessed is the man who does not walk in the counsel of the wicked, nor stand in the path of sinners, nor sit in the seat of scoffers" (Psalm 1:1). In no way does this imply that non-Christians can't give good advice. Some of them give better advice than many Christians. But the standards by which decisions are made in our society today are quite often incompatible with God's standards. Principle #2: Multiple Counselors "Without consultation, plans are frustrated, but with many counselors they succeed" (Proverbs 15:22). No one can be expert enough in all areas of finance for anyone to depend on his or her counsel exclusively. The areas of taxes, securities, stocks, bonds, and real estate are so complex today that only with a variety of good counselors can you really get good advice. Principle #3: Weigh All Counsel "The naive believes everything, but the prudent man considers his steps" (Proverbs 14:15). Even the best counsel in the world (including Christian) lacks an essential ingredient necessary to make your decision: God's plan for your life. Anything that robs us of God's peace is contrary to God's plan for us. How to weigh counsel Even a bad advisor is right occasionally and usually will be recommended on the basis of an isolated correct guess. How do you weed out the "guessers" from the counselors? 1. Test Their Counsel. When I'm evaluating someone's counsel in an area with which I am unfamiliar, I will pick a subject about which we should both be knowledgeable and test that person. If I find the answers to be fundamentally wrong in an area I do understand, then I avoid counsel in areas I don't understand. 2. Track Record. Proverbs 21:5 says, "The plans of the diligent lead surely to advantage." A good test of a counselor's expertise is past performance. Any time you choose to invest time and money with someone who has less than a five-year verifiable track record, you should assume that you're part of the "on-the-job training." 3. References. Few people ask for multiple references from a financial counselor, and even fewer verify those references. Proverbs 21:29 says, "A wicked man shows a bold face." Most so-called advisors count on a good front in hopes to satisfy clients. Check their references thoroughly. Conclusion The best method for locating good, Christian counsel is from other Christians who have been helped. Quite often, if you'll just ask others at your church, someone will recommend a good resource. Without a doubt, the expert Christian counsel we need is available if we seek it diligently.

7/9/2008 9:53 PM