Compassion comes full circle when giving makes you a better advisor

Compassion comes full circle when giving makes you a better advisor
When an advisor launched a nonprofit in his ancestral home of Ghana, he also learned how to better understand his clients
FEB 07, 2023
By  Kobby Okum

My journey to becoming an advisor who is a better listener, asks better questions and deepens relationships occurred in an unconventional way. It came when I married my purpose in life with my professional skills. The combination of purpose and profession manifested in the Ghana Impact Project, a charity I founded in 2021 to equip physically challenged children and adults in Ghana to rebuild their ability to walk and even run. 

In 1995, when I was 11 years old, my family emigrated from Ghana to the U.S. Beyond the adjustment to a totally different environment, I was shocked to see students in my school whisking around in electric wheelchairs, dashing through the hallways and appearing to enjoy reasonably normal lives.

I hadn’t seen physically challenged children in Ghana. I clearly remember coming home from school one day and asking my parents why there were so many physically challenged kids in America. That was when I learned that we had such kids in Ghana too, but I hadn’t seen them because they had no way to be out and about. Hardly any schools, or for that matter, any public facilities, had ramps or elevators. Worse, some members of the society saw their physical challenge as contagious, or as a curse from God. I was 11 and I knew that someday, I would bring Ghanaian children the equipment that they deserved.

By 2021, I was well along in my advisory career. The harsh realities of the Covid-19 pandemic reminded me of my childhood promise to myself. It was time to bring that promise to fruition. I founded the Ghana Impact Project, a 501(c)(3) nonprofit, to accomplish two goals: to raise money to provide mobility resources, such as prosthetics, wheelchairs and crutches, to the physically challenged in Ghana, and to raise awareness and education to help curb the stigma of being physically challenged in Ghana.

In 2022, its first year, the Ghana Impact Project raised $10,000 that provided prosthetics for 20 children in Ghana.

Creating the Ghana Impact Project stemmed from my soul-searching about the legacy I want to leave and the impact I want to have today. Thanks to the process of launching a nonprofit, I’m better now at running my practice, from defining a vision and organizing a board to fundraising and executing the plan. But most important, I better understand my clients. Before, I focused almost exclusively on their financial goals. Now, I take the time to understand what really motivates them and how they define lifelong success. I want them to have the same fulfillment of their life objectives that I’ve achieved for mine.

Kobby Okum is a certified financial planner based in Leesburg, Virginia. 

Invasion of Ukraine elicits surge of giving: Vanguard Charitable

Latest News

FINRA suspends Centaurus broker who piled clients into REITS, BDCs
FINRA suspends Centaurus broker who piled clients into REITS, BDCs

Most firms place a limit on advisors’ sales of alternative investments to clients in the neighborhood of 10% a customer’s net worth.

Advisor moves: LPL Financial, Osaic, Raymond James all welcome new teams
Advisor moves: LPL Financial, Osaic, Raymond James all welcome new teams

Those jumping ship include women advisors and breakaways.

Mariner announces an acquisition double, adding $1.7B to its AUA
Mariner announces an acquisition double, adding $1.7B to its AUA

Firms in New York and Arizona are the latest additions to the mega-RIA.

Michigan insurance agent to stand trial after charges of insurance fraud
Michigan insurance agent to stand trial after charges of insurance fraud

The agent, Todd Bernstein, 67, has been charged with four counts of insurance fraud linked to allegedly switching clients from one set of annuities to another.

NY Appeals court tosses $500M civil fraud penalty against Trump; upholds injunctive relief
NY Appeals court tosses $500M civil fraud penalty against Trump; upholds injunctive relief

“While harm certainly occurred, it was not the cataclysmic harm that can justify a nearly half billion-dollar award to the State,” Justice Peter Moulton wrote, while Trump will face limits in his ability to do business in New York.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.