Looking forward is always tough, particularly in an ever-changing world with so much uncertainty. However, as we have spent the better part of the past year reminiscing about and celebrating the last 40 years of Clayton Wealth Partners, we would be remiss if we didn’t also dedicate some time to consider what the next 40 years might hold.
Albert Einstein recognized the difficulty in looking into the future with the statement, “I never think of the future—it comes soon enough.” While truer words were never spoken, I will try to briefly look at what I believe the next 40 years will mean for our clients, company, and communities.
Technology and the Human Touch
As a child, I used to love watching The Jetsons. As it turns out, other than the prevalence of flying cars (coming soon), the world of The Jetsons has, in many ways, come to pass. On the show, characters often communicated with video calls and smart devices on their wrists and enjoyed homes with devices for lighting, cleaning, and meals. We can debate about the “when” and “how,” but I think it’s safe to say the future for all of us will be affected by artificial intelligence and increased automation.
For our clients and our industry, those changes could have a large impact on communication (continued ability to provide remote meetings), transportation (use of self-driving cars to increase productivity and safety), and continued automation of mundane tasks. Many of these changes throughout our industry will likely result in more efficient and effective means of sharing information across various platforms. The ability for investment managers to access more information about markets and the overall economy more efficiently is sure to assist in making tactical decisions within client portfolios.
On the downside, the increased automation will most certainly lead to fewer human interactions. However, in a profession focused on communication and building relationships, we at Clayton Wealth Partners do not think less is more when it comes to human interaction. This is particularly true when dealing with complex financial planning issues.
The brief rise and fall of the robo-advisor industry is a good recent example of how automation can be a poor replacement for thoughtful advice from a real person. While examination of more data, algorithm-driven analysis, and artificial intelligence can assist wealth advisors and investment professionals, human beings will always make the decisions that drive our financial futures. Technology will certainly provide more tools, but the use of those tools should be guided by experienced professionals in collaboration with the clients they serve.
We are always quick to sign off communications with “We are here for you.” Rest assured that whatever technological advances occur, the advisors, investment professionals, and staff at Clayton Wealth Partners will balance the use of new technologies with direct communication and collaborative “human” decision-making with our clients.
Leading with Top Credentials
As part of our “client-first” approach, Clayton Wealth Partners will also remain committed to hiring the best and the brightest in the industry. We have always sought to hire and retain individuals with the highest education and credentials available.
Going forward, our investment team will continue to be led by a Chartered Financial Analyst® charterholder, the highest level of development in investment management.
Similarly, our advisory team will continue to be led by CERTIFIED FINANCIAL PLANNER® professionals, with the highest development and ethical standards possible. We are so proud that our firm began with two of the first CFP® certificants in Northeast Kansas. Today, 1 out of every 6 (Topeka) and 1 out of every 7 (Lawrence) CFP® professionals in our communities are with Clayton Wealth Partners. Going forward, our firm will continue to retain the best in our industry in service of our clients.
Service to Our Communities
The last item is our commitment to the communities we serve. For 40 years, Clayton Wealth Partners has placed a heavy emphasis on giving back to our communities. Through volunteer work, major gifts to non-profit organizations, and board service, Clayton Wealth Partners will continue to serve the wonderful communities where we live and do business.
That tradition will grow with our new office in Lawrence as we continue to expand our presence in Douglas County.
Here’s to the Next 40 Years!
In short, the future of Clayton Wealth Partners will look much like the past. Whatever technological changes the future holds, Clayton Wealth Partners will be guided by the same principles established by our founding partners 40 years ago: Put your clients and communities first. If we stick with those principles, I am convinced someone else will be writing here in the year 2064 (by typewriter, hologram, or whatever medium exists at the time), reflecting on 80 years of CWP.
On behalf of our entire staff at Clayton Wealth Partners, thank you for letting us serve you now and in the future. Cheers to the next 40 years!
