Faith-Fueled Finance
Article originally posted here by Christianity Today
JESSICA FRALIN
In a quiet office in San Antonio, Texas, a gong rings out. Staff members flood from their offices to clap and cheer, congratulating a client on his daughter’s graduation from college.
At PAX Financial Group, this mid-afternoon ceremony isn’t unusual. Companies define success in many ways, but PAX is dedicated to measuring hope. Because PAX, a financial planning firm, serves people, not investment portfolios, they praise what is praiseworthy in their clients’ lives, and each milestone is documented in the company’s system and observed by the ringing of the gong.
Today, the gong sounded for a father seeing a child graduate from college. Tomorrow, it could ring out to celebrate a business owner retiring well 50 years after launching. Last week, it marked one client paying off her mortgage and another client’s decision to donate six figures to worthy causes.
In an industry laser-focused on wealth accumulation, PAX is dedicated to celebrating every step of the stewardship journey. They recognize that more than leaving a legacy, clients are desperate to live one, finding ways to rejoice in today as well as prepare for tomorrow.
Like PAX, many financial institutions across the nation are turning notions of greed and gain upside down. Gospel-centered leaders of wealth-management companies are changing the financial climate and the public’s perception of it as they focus on building their clients’ lives, not just their profit margins.
Living a legacy
“Inheritance is what you leave to someone, but legacy is what you leave in someone,” says Darryl Lyons, co-founder and CEO of PAX. “Living a legacy is much more rewarding, and much more fun, than just accumulating money to leave behind.”
A commitment to generosity is revolutionizing the financial planning industry. According to cofounder Joseph Schuetze, inspiring generosity rather than simply pushing toward endless wealth accumulation allows companies to ensure that each client’s legacy when they’re gone—and their life now—will be richer. Schuetze credits C12, an organization that compels and equips Christian CEOs and business leaders to achieve excellence with eternal impact, as being a consistent driver behind these choices. He says, “C12 isn’t afraid to offer tough accountability and push you to live with high integrity.”
“It’s antithetical to this industry to convince clients to give more money away,” Schuetze explains. “We’re actually cutting into our own fees. But we are staking our claim to the ideals of the kingdom of God, not the ideals of the world of finance.” PAX goes beyond simply encouraging clients to give to charitable organizations by prompting them to actively engage with those organizations. As a result, clients see their generosity making a difference in the community. They get to live their legacies.