When I started in the investment industry, gaining a knowledge advantage gave you a competitive edge. Who you knew could give you access to information others did not have. Knowledge was often guarded by people and difficult to obtain.
Now, we call using that type of advantage ‘insider trading,’ which is illegal. Even if we tried to gain a competitive knowledge advantage through personal relationships today, it would be laughable - knowledge is now abundantly available. Most of what we paid for or longed to access back then is now digitally available for free.
However, our abundance of information requires a different skill set. It’s no longer about access or expert analysis; it’s about the ability to understand it all. The challenge now is connecting the dots and recognising patterns within the flood of information.
Strangely enough, we tend to develop these skills as we age. Arthur C. Brooks, author of From Strength to Strength: Finding Success, Happiness, and Deep Purpose in the Second Half of Life, writes: ‘One’s knack for combining complex ideas, understanding what they mean, and relating them to others rises throughout middle age and can stay high well into old age.’ As we grow older, we rely more on our abilities to synthesise knowledge, comparing current facts to past trends and experiences. Some may call this wisdom.
In a world that emphasises the skills typically associated with youth – innovation, speed, and ingenious problem-solving – we can easily overlook the slower, more deliberate advantage that comes with age and experience: the impact of wisdom.
As we age, many feel a stronger desire to make an impact. We look for opportunities to develop others or to give back. The work we loved during our first decades may start to feel less fulfilling and no longer provide the same amount of satisfaction.
I have been fortunate to shift my career away from the technical aspects of wealth management and financial planning. Now, I work with brilliant young people, helping them bring their incredible skills to our clients while offering the wisdom that comes with age and experience.
My role is to synthesise the details of my client’s lives with a wealth of knowledge I’ve built up over decades. Most importantly, I encourage clients to look beyond the numbers and focus on living a fulfilling, meaningful life.
At the same time, I love mentoring the young people on my team, helping them unlock the best version of themselves.
Financial planning is one of those fields where people do some of their best work well into their sixties and seventies. But it’s not the only field. The world needs older people to wake up to the vital contribution they can make. If you find yourself floundering in midlife, consider the wisdom you’ve accumulated and how you can bring that to bear on the world.
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Kind regards,
Sunél