In the Spring 2024 issue of Enterprising Women Magazine, Marcel V. Quiroga, Founder and CEO of TQM Wealth Partners, shared a thought-provoking perspective on the profound connection between personal values and financial health. With over 25 years of experience advising high-net-worth individuals, Quiroga emphasizes that financial planning transcends mere numbers—it becomes a powerful tool for aligning wealth with purpose and creating a legacy that resonates across generations.
In this blog, we expand on Quiroga’s insights from the magazine, illustrating how these principles apply to the wealth management journeys of our clients at TQM Wealth Partners.
The Intersection of Values and Wealth Management
Quiroga illustrates her philosophy through the story of Sally, a 48-year-old tech entrepreneur and mother of two. While Sally’s professional success positioned her comfortably for retirement at 65, a values assessment revealed a deeper truth: her highest priority wasn’t her career—it was her family. This realization led Sally to question whether her current work pace truly supported her desire for more quality time with her loved ones.
With guidance from TQM, Sally embarked on a comprehensive review of her financial plan, shifting from a strategy focused solely on accumulation to one that prioritized meaningful living today while securing her family’s future.
The Four Pillars of Purpose-Driven Financial Health
Quiroga outlines a structured, yet deeply personal approach to evaluating financial health that integrates both tangible assets and personal values:
- Purposeful Savings and Spending
Instead of the traditional “save what’s left after spending” model, the focus shifts to defining savings goals first ensuring that every dollar serves a clear purpose. This strategy puts you first and provides clarity to your spending plan by aligning discretionary expenses with what matters most. - Valuing All Forms of Capital
Financial capital (savings and investments), human capital (future earning potential), and social capital (anticipated benefits like social security) all contribute to a holistic balance sheet. For entrepreneurs like Sally, potential income from selling her business also plays a critical role in shaping long-term plans. - Understanding Lifestyle Costs and Liabilities
Recognizing the true cost of the life you want to live is essential. By assessing current and future financial obligations, clients can ensure their wealth supports their desired lifestyle without compromising future security. This includes considering not just material possessions, but also experiences, travel, personal growth, and the ability to support loved ones. - Building a Financial Cushion for Freedom and Impact
The difference between total capital and liabilities defines one’s financial flexibility—your ability to weather unforeseen circumstances and seize new opportunities. A robust financial cushion not only safeguards against unforeseen events but also opens doors to new ventures, philanthropic pursuits, or simply the freedom to spend more time with family—as Sally discovered.
Sally’s Financial Journey: From Success to Fulfillment
Through three balance sheet scenarios—pre-planning, post-planning, and post-planning with business sale proceeds—Quiroga demonstrates how aligning financial strategies with personal values leads to transformative outcomes. Initially underfunded in areas that mattered most, Sally’s proactive adjustments allowed her to shift from financial constraint to a secure, well-funded and purpose-driven future.
By recalibrating her investment strategies and considering the potential sale of her business, Sally created not just financial security, but the freedom to spend more time with her children, support causes she believes in and design a legacy she can witness during her lifetime.
The Takeaway: Wealth as a Tool for Living Your Legacy Today
Quiroga’s insights highlight a powerful truth: for high-net-worth individuals, financial planning isn’t just about protecting and growing assets. It is about honoring the values that define your life. A holistic approach ensures that wealth management strategies not only secure financial independence but also empower clients to live their purpose, create lasting memories with loved ones, and build a legacy that goes beyond material inheritance.
At TQM Wealth Partners, we believe that true financial success is achieved when your wealth becomes a tool for living the life you envision—today and for generations to come. Regularly updating your financial plan to reflect life’s evolving priorities isn’t just prudent, it’s essential for sustained fulfillment.
Just like in business, your financial plan should serve as a decision-making tool—updated at least once a year—to ensure your strategies remain aligned with your evolving goals and life changes.
What Vision do you have for Your Legacy?
We invite you to reflect. How does your financial wealth support the life you truly want to live? Are your financial strategies aligned with the legacy you wish to create? At TQM Wealth Partners, we’re here to help you find that alignment—because your wealth isn’t just a number; it’s the key to a purposeful, fulfilling life.
Schedule a private consultation to discuss your financial vision and how we can help you align your wealth with your values.
Disclaimer:
The content provided is for informational and educational purposes only and should not be considered investment, tax, or legal advice.
Investing involves risks, including the potential loss of principal. Past performance does not guarantee future results. Readers should consult with a qualified financial adviser before making any investment decisions. Additionally, while we strive to provide accurate and up-to-date information, we make no warranties as to the accuracy, completeness, or reliability of the content provided. Any references to specific securities, strategies, or investment approaches are for illustrative purposes only and should not be construed as an offer or solicitation to buy or sell any financial instrument.
