As we wave goodbye to the first few weeks of the new year, it's almost comical how many well-intentioned resolutions have already started to slip through to the dustbin of regret. Not so at Members’ Wealth. Why? Because it's 'Quarterly Meeting Season' again, or as I prefer to call it, 'Accountability Meeting Season'. In the spirit of these meetings, let's talk about having accountability partners.
The concept of accountability partners, while not new, has been growing in popularity (See Table for some of these reasons).
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1. Increased Awareness of Mental Health and Well-being: There's a growing understanding of the importance of mental health and personal well-being. People recognize that achieving goals, whether they're related to fitness, career, or personal development, is often easier with support. Accountability partners provide a framework for mutual encouragement and support. |
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2. Social Media Influence: The rise of social media has brought about an era where people are more connected and more influenced by peer networks than ever before. Success stories and motivational content often shared on these platforms can inspire individuals to seek out accountability partners. |
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3. Remote Work and Digital Collaboration: The increase in remote working has led to a need for more structured self-discipline. Without the traditional office environment, individuals are turning to accountability partners to stay on track with their professional and personal goals. |
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4. Focus on Personal Development and Continuous Learning: There’s a growing trend towards lifelong learning and personal development. People are continuously seeking ways to improve themselves, and having an accountability partner is a practical method to ensure progress and consistency. |
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5. Increased Complexity in Personal and Professional Goals: As goals become more complex and multifaceted, the guidance and support of an accountability partner can be invaluable. They can provide diverse perspectives and insights that might not be apparent when working alone. |
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6. Research Backing the Effectiveness: There's increasing research showing that having someone to hold you accountable can significantly increase the likelihood of achieving your goals. This evidence-based approach appeals to those who are results-oriented. |
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7. Cultural Shift Towards Collaborative Success: There's a cultural shift away from individualism towards recognizing the value of collaboration and community in achieving success. This shift makes the idea of an accountability partner more appealing. |
While the exact impact of an accountability partner varies from study to study, the general results are clear, having an accountability partner is impactful. They can be used to help a person get healthier, achieve business goals, and lead a better family life. Numbers vary but in general, it has been found, that one has a 65% chance of completing a goal if you tell someone else you’re committing to doing it. And if you have specific check-ins with a partner, your chance of success increases to 95%.
This idea resonates deeply with me as the CEO of a wealth management firm. Even in my position, I rely on accountability partners in three vital areas of life: health, wealth, and family.
In the realm of wealth management, we often overlook the personal aspect of financial planning. This is where our approach at Members Wealth shines. We see ourselves as your family's financial accountability partner. Our team of investment professionals is dedicated to not just investing and managing your money but also ensuring your family's holistic financial well-being.
Personal Confession: Allow me to share a personal experience. Despite being or perhaps because I am at the helm of financial planning firm, I have a financial advisor as our family's financial advisor (don’t worry, he works at Members’ Wealth, ha!). I have also joined other accountability groups for personal and business accountability. This practice keeps me grounded and focused, not just in business, but in my personal life too. It's a reminder that success is a collective effort.
Closing Thoughts: Embracing the concept of an accountability partner can be uncomfortable. (No it is uncomfortable!). It means opening up to scrutiny and challenging feedback. However, this discomfort pales in comparison to the regret of a life not fully realized. At Members’ Wealth Management, we understand this. We're not just your financial advisors; we're partners in your family's journey towards financing a life lived to its fullest potential.
Dane Czaplicki is CEO of Members’ Wealth, a boutique wealth management firm that offers a comprehensive approach to serving individuals, families, business owners, and institutions. The firm’s goal is to preserve and grow its clients’ wealth to endure over time, while thoughtfully evolving its strategy to suit an ever-changing world. With over 20 years of wealth management experience, Dane and the Members' Wealth team thrive on bringing clarity and confidence to clients' unique situations. He believes everyone needs sound financial advice from someone whose interests are aligned with theirs, and is determined to put service before all else.
Dane received his MBA from The Wharton School of Business at the University of Pennsylvania and his bachelor’s degree from Bloomsburg University. Outside work, he enjoys spending time with his wife and kids, hiking and camping, reading, running, and playing with his dog. To learn more about Dane, connect with him on LinkedIn.
To get in touch with the Members’ Wealth team today, I invite you to email info@memberswealthllc.com or call (267) 367-5453.
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