Profit with purpose: Incorporating social initiatives into financial advising

As experts in financial empowerment, we have a unique opportunity to extend that empowerment to marginalised communities and social causes, all while growing our businesses.

My journey to profit with purpose

I’ve long valued the principle of giving back, a belief deeply rooted in my personal history. As a student, I received a $500 scholarship from the Country Women’s Association, which eased my transition to university life away from my rural home.

Now in a position to give back, I’ve made this ethos a cornerstone of my business.

Adopting the Profit First method

I’ve aligned my business with the Profit First model, allocating 2 per cent of all income to a designated charity account. The growth of my business directly amplifies this charitable work.

This fund has supported initiatives like supplying laptops to university students and aiding families facing cancer treatments.

Social initiatives and business growth

Having children has deepened my desire to make a more substantial societal impact.

This led me to my newest initiative aimed at my peers – financial advisers. It’s not just about business growth, it’s about making a societal difference. The harrowing statistic that one woman dies every nine days due to domestic violence propels me into action, especially as someone with four sisters.

AdviserEdge30 Initiative

So, my latest project is the AdviserEdge30 initiative where I offer a complimentary 30-minute strategy session to any financial adviser who donates to the “I Run for Her” Got Your Back Sista event, an organisation that is doing some amazing work helping women and families fleeing domestic violence.

During the AdviserEdge session, feel free to ask me anything about growing and scaling an advice business. From social media, working millennials to technology for better onboarding, we can cover a lot. I talk fast, so rest assured we’ll make the most of our 30 minutes together as a thank you for your generosity.

A dual benefit model

You may also want to consider integrating social initiatives into your business model as it provides multiple benefits. It not only allows you to have a meaningful societal impact, but both my clients and team have responded positively, often becoming involved in these causes themselves.

And in a highly competitive labour market, this initiative may also serve as an edge to attract and retain staff.

The future of financial advising

So, to my industry colleagues, I ask, what if we evolved from merely being financial stewards to acting as catalysts for social good? Imagine the ripple effects across society and our industry.

To help with that ripple effect, I invite you to make a donation on the link here (just scroll to my name Adele). Any amount grants you a free AdviserEdge30 session with me.

After donating, capture a screenshot of your donation and message me on LinkedIn or email me at [email protected] so we can book in your session.

And for licensees, fund managers, associations, and event organisers, here’s an open invitation: I’ll speak at any event in the next 12 months for free. If it’s in-person, just cover my travel expenses, and make a donation of any size.

Let’s not just aim for profit, let’s strive for profit with a purpose.

Adele Martin, founder of My Money Buddy and The Savings Squad podcast