Winter reading list recommended by financial advisors

Published
  • November 17 2017, 12:10pm EST
Most of us wish we had more time to read, but life, work and binge-watching “Stranger Things” or “Ozark” can get in the way. Yet as the year creeps to a close and your year-end business winds down, this is the perfect time to enjoy a good book. Don’t have time quite yet?

Add one of the following suggestions to your holiday wish list and you can take it on your next business trip in the New Year.

President Obama once credited books with allowing him to “slow down and get perspective,” Oscar Wilde said “it is what you read when you don’t have to that determines what you will be when you can’t help it,” and novelist Elizabeth Hardwick has claimed that “the greatest gift is a passion for reading.”

Whether they illuminate a new way of looking at the world, or prompt clients to study up on personal finance strategies, books are a wonderful way to share insights with friends, colleagues and clients.

“Books make great gifts because they have whole worlds inside of them and it’s much cheaper to buy somebody a book than it is to buy them the whole world,” author Neil Gaiman has said.

Financial Planning asked advisors about their favorite reads. Most of the books on this list are related to the industry, but a few are from outside the space.

Click through the list to learn more:

Winter reading list recommended by financial advisors

Most of us wish we had more time to read, but life, work and binge-watching “Stranger Things” or “Ozark” can get in the way. Yet as the year creeps to a close and your year-end business winds down, this is the perfect time to enjoy a good book. Don’t have time quite yet?

Add one of the following suggestions to your holiday wish list and you can take it on your next business trip in the New Year.

President Obama once credited books with allowing him to “slow down and get perspective,” Oscar Wilde said “it is what you read when you don’t have to that determines what you will be when you can’t help it,” and novelist Elizabeth Hardwick has claimed that “the greatest gift is a passion for reading.”

Whether they illuminate a new way of looking at the world, or prompt clients to study up on personal finance strategies, books are a wonderful way to share insights with friends, colleagues and clients.

“Books make great gifts because they have whole worlds inside of them and it’s much cheaper to buy somebody a book than it is to buy them the whole world,” author Neil Gaiman has said.

Financial Planning asked advisors about their favorite reads. Most of the books on this list are related to the industry, but a few are from outside the space.

Click through the list to learn more:

Grit: The Power of Passion and Perseverance by Angela Duckworth

Recommended by Erin Doepel Wikstrom, financial advisor at the Doepel Group, Retirement Planning of Raymond James, Naperville, Illinois

“It’s a great read with fascinating scientific support using various cohorts in examining their individual ‘Grit Scale.’ Truly, it shows that hard work and tenacity go further than raw talent and luck.”

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Aged Healthy, Wealthy & Wise by Coventry Edwards-Pitt

Recommended by Angelo Robles, founder and CEO of the Family Office Association, Greenwich, Connecticut

"Much has been said in our industry about the tsunami of wealth transfer that will occur over the next few decades, but relatively little has been said about the individuals who will be transferring this wealth and what their aging journeys will be like. This book shows this generation how to age well and ensure that their aging process positively impacts their families."

The Laws of Wealth: Psychology and the Secret to Investing Success by Dr. Daniel Crosby

Recommended by Aaron Klein, CEO of Riskalyze, Auburn, California

“My favorite chapter, 'You Are Not Special,' speaks to the ways in which overconfidence serves us well in other parts of our life, but can be corrosive to positive client outcomes.”

The New Retirementality by Mitch Anthony

Recommended by George Reilly, CFP at Safe Harbor Financial Advisors, Occoquan, Virginia

“This is a great resource to discuss the softer side of retirement planning. We get beyond the can I or we afford to retire and talk about what retirement really means to the client. This book helps me talk about the return on life as well as the clients' return on investments.”

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Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb

Recommended by Theodore Haley, president of Advance Wealth Management, Portland, Oregon

“This book offers some very important insights into market behavior and life in general.”

The Three Laws of Performance by Steve Zaffron and Dave Logan

Recommended by Darin Shebesta, vice president of Jackson/Roskelley Wealth Advisors, Scottsdale, Arizona

“It gave me access to a whole new world of performing in life. It deals with ontology, which is the study of being and helping you identify blind spots that are in your way to fulfilling what you want.”

The Boys in the Boat by Daniel James Brown

Recommended by Lee Bryan, III, managing director of Alex Brown, a division of Raymond James, Winston-Salem, North Carolina

“The book made me focus on the vital importance of every team member fulfilling their roles. The team can’t be efficient without the focused effort of every team member. It’s the ultimate statement of accountability.”

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How Not to be Wrong: The Power of Mathematical Thinking by Jordan Ellenberg

Recommended by Brad McMillian, CIO of Commonwealth Financial Network, Boston

"Its five parts walk readers through the major math-based thought errors that trip us all up so often. It combines a sound analytical foundation, practical and relevant — if whimsical — examples and clear explanations as to why each point matters and how it can be used — providing the best introduction about how not to be fooled by math that I have seen."

How We Decide by Jonah Lehrer

Recommended by Kristi Sullivan, owner of Sullivan Financial Planning, Denver

“This book offers great insight into why our clients behave the way they do. It turns out making bad financial choices is hardwired into our brains!”

Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond by Chris Burniske and Jack Tatar

Recommended by Ric Edelman, executive chairman of Edelman Financial Services and author of “The Truth About Your Future”, Fairfax, Virginia

“Blockchain technology is poised to be one of the most profound inventions in history. Jack and Chris’s explanation can help you understand blockchains — and the cryptoassets that can be created with them, as well as help you serve your clients better."

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Being Mortal: Medicine and What Matters in the End by Atul Gawande

Recommended by Sandra Adams, lead financial planner and partner with the Center for Financial Planning, Southfield, Michigan

“This book gives advisors a sense of the issues facing clients at end of life. It provides an understanding of the current state of the health care/medical system as it relates to end-of-life versus the human/patient perspective, which can help planners relate to clients with terminal diagnosis and those facing their aging years.”

Generation to Generation: Life Cycles of the Family Business by Kelin Gersick, Marion Hampton, Ivan Lansberg and John Davis

Recommended by Craig Cerone, managing director and client advisor, Alex Brown, a division of Raymond James, Greenwich, Connecticut

“I have used the material and principles in this book to help families continue and strengthen their family relationships. Many people can put the techniques of wealth planning to work for others. It takes skill and understanding to put together a wealth transfer plan that builds a stronger family.”

Lost and Found: One Woman’s Story of Losing Her Money and Finding Her Life by Geneen Roth

Recommended by Sarah Boston, financial advisor and branch manager, Raymond James Financial Services, Indianapolis

“Geneen Roth invested with Bernie Madoff and was the recipient of a phone call advising that all of her assets were gone. ‘Lost and Found’ chronicles the exploration of her relationship with money and how her decision-making processes changed as a result of this experience. For me as an advisor, it gave me an inside view on how a client’s past experiences, present situation and future expectations meld together to form a money personality.”

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The Little Book of Behavioral Investing: How Not to be Your Own Worst Enemy by James Montier

Recommended by George Gagliardi, founder of Coromandel Wealth Management, Lexington, Massachusetts

“I reread it on occasions to remind myself of the innate biases in how my brain is programmed. I also give it to all my clients who aspire to do stock selection on their own, telling them that they ought to at least be aware of how their ‘investing computer’ operates.”

The Power of Focus: What the World's Greatest Achievers Know About The Secret to Financial Freedom & Success by Jack Canfield, Mark Victor Hansen and Les Hewitt

Recommended by Glenn Downing, CFP of CameronDowning, Miami

“Just what the title suggests. Do what you're best at and delegate the rest. If you try to shore up your weaknesses, you'll end up with a lot of strong weaknesses. Do professional athletes still practice what they're already the best in the world at? Yes!”

Start With Why: How Great Leaders Inspire Everyone to Take Action by Simon Sinek

Recommended by Chavon Sutton, managing director of Momentum Advisors, New York

“What inspired me the most was the book’s focus on introspection and getting to the core of why we make the choices we do in every aspect of our lives, including our financial lives. By implementing some of the principles in the book and addressing the ‘why’ of my clients’ decision-making, I have been able to instantly tap into the emotion driving their choices.”

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The Alchemist by Paulo Coelho

Recommended by Ryan Wibberley, CEO of CIC Wealth, Rockville, Maryland

“This book is about a young shepherd who is able to find treasures by simply following his dreams. Too many of us have big goals in our lives, but we never go after them because of fear or lack of confidence. This shepherd learned to follow his dreams and he found true happiness, and I found this to be inspiring and motivating in my personal, as well as professional life.