Latest / Daily Influence / 796. Values-Based Financial Decisions: Building Wealth, Trust, and Positive Influence

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796. Values-Based Financial Decisions: Building Wealth, Trust, and Positive Influence · Daily Influence

• 0:10
  [SPEAKER_01]: Welcome to Daily Influence, your daily dose of positive influence.
• 0:14
  [SPEAKER_01]: I'm Brian Smith founder of IA Business Advisors and co-author of the Iain team series.
• 0:19
  [SPEAKER_01]: Each day we share stories and insights to help you find be and build your influence in a positive and responsible way.
• 0:27
  [SPEAKER_02]: And I'm Greg Clino, partner at IA Business Advisors, and co-host of Daily Influence.
• 0:32
  [SPEAKER_02]: Be sure to follow, subscribe, and share Daily Influence with someone who could use a little extra positivity today.
• 0:38
  [SPEAKER_02]: And make us part of your Daily routine, whether it's during your commute, on a walk, or an quiet momentous for you, because you're influenced matters.
• 0:48
  [SPEAKER_02]: Welcome to Daily Influence, I'm Greg Clino.
• 0:51
  [SPEAKER_02]: Before we dive in, I want to share a quick note.
• 0:53
  [SPEAKER_02]: We recently launched the Smart Advantage newsletter, which offers practical insights on leadership, accountability, workplace culture, and building a stronger business delivered to your inbox weekly.
• 1:05
  [SPEAKER_02]: If you're looking for simple, actionable ideas, you can apply in your business or leadership role, you can find the link to subscribe in the show notes below.
• 1:15
  [SPEAKER_02]: And now let's move into today's conversation, where we'll continue exploring the ideas, actions and influence that helps us lead and live with greater influence.
• 1:25
  [SPEAKER_02]: Today's guest brings together financial leadership, entrepreneurship, relationship building, and community impact.
• 1:33
  [SPEAKER_02]: Chad Coe is the founder and president of Coe Financial Group, where he uses a values-based approach to help individuals, executives, and business professionals connect their financial decisions to what matters most in their lives.
• 1:48
  [SPEAKER_02]: He's also a speaker, business connector, philanthropist, and licensed charity auctioneer, who has helped non-profit organizations raise support for their missions.
• 2:01
  [SPEAKER_02]: What makes Chad's perspective especially relevant is his belief that financial successes not simply about accumulating more, it's about creating clarity, making intentional decisions,
• 2:13
  [SPEAKER_02]: Building authentic relationships and using your resources to support the life and impact you want to create.
• 2:20
  [SPEAKER_02]: Chad, I'm so glad you're here.
• 2:22
  [SPEAKER_02]: Welcome to Daily Influence.
• 2:23
  [SPEAKER_00]: Thank you so much, Craig.
• 2:24
  [SPEAKER_00]: I love being here and sharing.
• 2:26
  [SPEAKER_02]: To add, you built a career that spans wealth management, entrepreneurship, public speaking, relationship building, and charitable fundraising.
• 2:35
  [SPEAKER_02]: When you look back, what experiences or people most shape the way you lead today?
• 2:40
  [SPEAKER_02]: And how did they influence your belief that business and financial decisions should begin with the person's values?
• 2:46
  [SPEAKER_00]: So I'll start when I was in my,
• 2:49
  [SPEAKER_00]: like 12, 13 years old, or even younger when I was in the Boy Scouts and I went around door to door because I wanted to win a bicycle.
• 2:57
  [SPEAKER_00]: And that was my first goal, maybe in my life that I had and I went door to door and people bought the popcorn and I won the bicycle.
• 3:05
  [SPEAKER_00]: And I realized that people say yes and that people are like a ball in that it's a nice experience.
• 3:11
  [SPEAKER_00]: When I was in my teens, I used to do the window washing business, paved driveways.
• 3:16
  [SPEAKER_00]: I used to caddy and one example of caddying, it was the O'Neill's, my first loop and I didn't know how to caddy.
• 3:23
  [SPEAKER_00]: They never trained me.
• 3:24
  [SPEAKER_00]: He showed me how to caddy.
• 3:26
  [SPEAKER_00]: He was the former CEO of Belly's gaming at the time and him and his wife both had Rolls Royce's in the parking lot and he gave me a $100 bill for my first loop like
• 3:43
  [SPEAKER_00]: As an entrepreneur, I was always motivated to do my own thing because when I tried to get a job or I had a job I never felt like I fit in the way that other people do.
• 3:53
  [SPEAKER_00]: And so I've read in a book, I think it was Stanley Thomas who said, if you're not the kind of guy that gets hired by people then create your own opportunities.
• 4:01
  [SPEAKER_00]: And that stuck with me for God knows 40 years.
• 4:04
  [SPEAKER_00]: So I've always, after leaving my grandmother's bookkeeping business at 31, I just created my own opportunities.
• 4:12
  [SPEAKER_02]: That foundation helps explain not only what you do, but how you choose to show up for the people around you.
• 4:18
  [SPEAKER_02]: Can you share a specific moment when you realize that your influence had made a meaningful difference in someone's life, whether it was a client, a colleague, a business owner, a nonprofit leader, or friend?
• 4:29
  [SPEAKER_00]: Yeah, so I would go back to 2008 and nine as a pivotal moment when the markets were pulling back, people were coming to my office.
• 4:36
  [SPEAKER_00]: There was one week I had four people that came and either touched me on the phone or in person were crying about their finances being way, way, way down.
• 4:45
  [SPEAKER_00]: And their perspective, they were having trouble with that.
• 4:48
  [SPEAKER_00]: So I read a book by Jack Canfield, the success principles and one of the chapters was a mastermind group.
• 4:54
  [SPEAKER_00]: And I think it was only just a couple pages.
• 4:56
  [SPEAKER_00]: So the next week I created a mastermind group with about 15 people in it, and because I was a big networker, I ended up having four groups a week with about 50 people in the total in the different groups.
• 5:08
  [SPEAKER_00]: It was a short time after that, maybe six months, nine months, 12 months after that.
• 5:12
  [SPEAKER_00]: People were telling me that I was really great at asking questions, facilitating, listening, and that these groups were the best thing that they've ever done to help them move forward.
• 5:22
  [SPEAKER_00]: And it was at that moment that I started to trust myself more and more to just kind of let loose with what my thoughts were to be able to help and inspire the people that were in front of me.
• 5:32
  [SPEAKER_02]: Yeah, trust is especially important in your work because people are often making decisions that affects their families and their businesses and the future are not just a financial account.
• 5:43
  [SPEAKER_00]: A hundred percent and trust is a big deal, but you know, I study how to gain trust, bill trust and be trusted
• 5:51
  [SPEAKER_00]: And with that, I share with people how to do it.
• 5:54
  [SPEAKER_00]: And I share with people why and how people trust me.
• 5:57
  [SPEAKER_00]: A lot of it just has to do with that I'm pretty much an open book.
• 6:00
  [SPEAKER_00]: I'm vulnerable myself.
• 6:02
  [SPEAKER_00]: And I go down a path of life with people.
• 6:05
  [SPEAKER_00]: It's not like me being the educator always.
• 6:08
  [SPEAKER_00]: It's that we could learn from each other.
• 6:10
  [SPEAKER_02]: it is so true.
• 6:11
  [SPEAKER_02]: And financial decisions are rarely based on numbers alone.
• 6:15
  [SPEAKER_02]: Fear, ego, urgency, past experiences, and outside of opinions can all affect how people respond.
• 6:22
  [SPEAKER_02]: When someone is making an emotionally charged decision, how do you help them slow down separate the facts from fear and take personal responsibility for the choice they're about to make?
• 6:32
  [SPEAKER_00]: I'm doing that right now.
• 6:33
  [SPEAKER_00]: So it was not even six months ago.
• 6:35
  [SPEAKER_00]: A lady called up my office and said, my daughter's buying a house, we need our funds ASAP.
• 6:40
  [SPEAKER_00]: I don't have time to create a line of credit.
• 6:42
  [SPEAKER_00]: I need, it was actually at the time of about $500,000.
• 6:46
  [SPEAKER_00]: Taxes, the capital gains were about $150,000.
• 6:50
  [SPEAKER_00]: Give her a take.
• 6:51
  [SPEAKER_00]: And she insisted that we make the trades and get it because she really wanted to give her daughter this money.
• 6:57
  [SPEAKER_00]: And believe it or not, it was not even two weeks later the house, Faltbro.
• 7:02
  [SPEAKER_00]: But you couldn't go backward and get out of the situation that you put yourself in with telling us what to do.
• 7:10
  [SPEAKER_00]: I have another client right now this minute that's doing something very similar for their daughter.
• 7:16
  [SPEAKER_00]: And I got on the phone early, shared with them that we need space and time to set up the line of credit and do what we need to do and that the urgency is something that could cause a lot of taxes and here's a situation that happened with another client.
• 7:33
  [SPEAKER_00]: And so the client that I'm working with right now, slow down, paste yourself, set the target date out further, gave us time to do it the right way instead of letting emotions dictate.
• 7:44
  [SPEAKER_02]: Helping others make better decisions also require as leaders to examine their own judgment and learn from the times they did not get it right.
• 7:52
  [SPEAKER_02]: Can you tell us about a professional challenge, a failed decision or a difficult season that forced you to reconsider how you were leading?
• 8:00
  [SPEAKER_00]: I would go back, I'm just a nice guy and I work hard and I don't mind seven days a week.
• 8:05
  [SPEAKER_00]: And for years, I was in the flea market business selling jewelry and I had multiple spaces and I was doing well, but I always wanted to own one.
• 8:13
  [SPEAKER_00]: So why make a thousand dollars a weekend or two thousand when you could make a half a million or a million dollars a year?
• 8:19
  [SPEAKER_00]: So I found a senior partner who had a flea market in Cicero.
• 8:23
  [SPEAKER_00]: And together, we hurryed up because we got the least on an August, he wanted to be open
• 8:29
  [SPEAKER_00]: And so we hurried up.
• 8:31
  [SPEAKER_00]: And the day before we signed the lease, the village voted no outdoor selling, and was gonna have a policeman there every day watching us.
• 8:38
  [SPEAKER_00]: And then I didn't know what copper was, but the guy I partnered with, hired someone to go in the building was a 50,000 square foot former dominant store, and he stole all the copper.
• 8:49
  [SPEAKER_00]: So right out of the box, we had no air conditioning.
• 8:52
  [SPEAKER_00]: The town was basically telling us they didn't want us there.
• 8:55
  [SPEAKER_00]: And it wasn't a year later that we were basically out of business.
• 8:58
  [SPEAKER_00]: We never got our feet off the ground.
• 9:00
  [SPEAKER_00]: The person who set up the Bingo Hall for us, 500-seat Bingo Hall, he had a gun in his car at one point, years ago before this.
• 9:09
  [SPEAKER_00]: But because he was going to apply for the license and his name was on it, they stole the Bingo license for six months.
• 9:18
  [SPEAKER_00]: And so at the end of the day, I learned a lot of lessons.
• 9:20
  [SPEAKER_00]: I lost quite a bit of money on this venture.
• 9:23
  [SPEAKER_00]: And because of that, I learned from it, but then that venture is what got me into the business that I'm in today.
• 9:28
  [SPEAKER_00]: And I'm grateful that I'm in the business I am today.
• 9:31
  [SPEAKER_00]: It's a lifestyle business that takes care of people where they're at.
• 9:37
  [SPEAKER_00]: And together, we helped them retire comfortably and stay comfortably retired.
• 9:42
  [SPEAKER_00]: But in my past, had the flea market business worked.
• 9:45
  [SPEAKER_00]: It was a seven day, a week, long business, a lot of driving, and not necessarily as rewarding as what I do now.
• 9:52
  [SPEAKER_02]: Hello, how you turned up a negative into a positive and a learning lesson for you.
• 9:56
  [SPEAKER_02]: And you know, those lessons are really the way that we all grow as humans.
• 10:00
  [SPEAKER_00]: Yeah, Greg, one of the things I share too is, you know, I stand here and I sound like I'm successful in doing well, in which case I am, because I wake up every day and I have system attached my life to be successful.
• 10:11
  [SPEAKER_00]: But what I share with people is, so I'm not a braggadotious, is I started and grew up in special ad.
• 10:18
  [SPEAKER_00]: And my first classroom was fourth grade and I was in remedial all the way through high school.
• 10:24
  [SPEAKER_00]: I ended up graduating the UIC Business School, and I worked hard to be able to accomplish all this, but as I stand here today with a lot of years and experience, it didn't come easy.
• 10:35
  [SPEAKER_02]: Thank you for sharing that chat and your work emphasizes the lining financial strategies with a person's values goals and tolerance risk for someone listening who's facing an important decision in their business financial or life decision what practical framework can they use to determine whether the choice is truly aligned if they go to my website called financial dot com
• 11:01
  [SPEAKER_00]: a COE financial dot com they can download my free book your financial dream house and in that book i have an exercise which is your abundant life road map which talks about your values your goals your gap analysis looking out three years as to where you're at and are you happy personally professionally financially
• 11:21
  [SPEAKER_00]: So I have this abundant life roadmap, but they actually connect to me on LinkedIn or they ask me for it.
• 11:26
  [SPEAKER_00]: I'm happy to share a copy of it or actually go through it with them.
• 11:30
  [SPEAKER_00]: But it's a really great tool at helping people decide their financial decisions, where they're at and where they wanna go.
• 11:37
  [SPEAKER_02]: Thank you for sharing that.
• 11:38
  [SPEAKER_02]: I appreciate that.
• 11:39
  [SPEAKER_02]: We'll make sure we put that in the show notes of strong foundation creates clarity but long term influence also depends on the habits that we practice consistently.
• 11:50
  [SPEAKER_02]: You've built your career through responsiveness relationships and being actively involved in your professional and charitable communities.
• 12:07
  [SPEAKER_00]: So, I mean, I would start in 2009 when the world's coming to an end and the markets are pulled back and I'm struggling even in my business.
• 12:14
  [SPEAKER_00]: I watched the village a deer field where I lived at the time struggle with the kind president was stepping down and there were having a new election and I never was in politics, but I threw my name in the hat and, you know, I threw it in there because I wanted to make a difference in the village that I lived in.
• 12:30
  [SPEAKER_00]: So I got involved in the community.
• 12:32
  [SPEAKER_00]: I didn't win, but at the same time, I started doing the mastermind groups, which were more fulfilling, I think, than even running and being president of a village.
• 12:41
  [SPEAKER_00]: So I think that trust comes from, again, conversational interaction, asking about them, what they care about, what their values are, what their goals are, and then helping them create a strategic plan to be able to accomplish all of that.
• 12:55
  [SPEAKER_00]: But I share with you the story as an example about running for mayor or president of a village is that you need to get out and be involved in other people's lives and just not make it about yours.
• 13:06
  [SPEAKER_00]: So it's a really good idea to get involved in a non-profit.
• 13:09
  [SPEAKER_00]: It's really a good idea to go out and find some peers and some mentors.
• 13:13
  [SPEAKER_00]: And to be able to ask questions and just double check what you're thinking makes sense.
• 13:19
  [SPEAKER_02]: Yeah, that's great advice and those habits are developed through your experience and many of us wish we had understood their importance much earlier.
• 13:27
  [SPEAKER_02]: If you could go back to your younger self, the beginning of your career, what would you tell them about success, money relationships and the kind of influence that ultimately matters?
• 13:38
  [SPEAKER_00]: I'm going to go back to my childhood when I had mentors, guys and people that were in my life sharing with me how to get ahead.
• 13:45
  [SPEAKER_00]: Then I fast forward when you I see business school got hard and I had to really dig in and start to learn in order to graduate college.
• 13:54
  [SPEAKER_00]: And then when I was in business and the family business, I got to practice a repeatable behavior.
• 14:00
  [SPEAKER_00]: Because every day and every week was a similar routine that I owned.
• 14:05
  [SPEAKER_00]: So when I got into the business that I'm in, I use my calendar.
• 14:09
  [SPEAKER_00]: Everything is in there whether I'm gonna work out, have lunch, do a podcast, have a client meeting.
• 14:14
  [SPEAKER_00]: Everything that I do is calendar it, including outreach and marketing.
• 14:19
  [SPEAKER_00]: So now I just make it a habit.
• 14:20
  [SPEAKER_00]: I don't think about it.
• 14:22
  [SPEAKER_00]: I don't question what I'm doing.
• 14:23
  [SPEAKER_00]: I just do it and I do it with a smile on my face and I do it with passion.
• 14:27
  [SPEAKER_00]: What I found is the more people I help, the more I give, the more I care about others,
• 14:32
  [SPEAKER_00]: And the more I can stay consistent with my daily to-do's, does more success has a way of showing up that works for me, my family, and my life?
• 14:40
  [SPEAKER_02]: That is a perfect example of a positive and responsible influence.
• 14:45
  [SPEAKER_02]: Chad, if our listeners want to learn more about your work or connect with you, what's the best way to do so?
• 14:51
  [SPEAKER_00]: I'm on all the different social media sites.
• 14:53
  [SPEAKER_00]: I'm under Chad Co.
• 14:55
  [SPEAKER_00]: I'm LinkedIn, I'm Chad Co, Facebook, Instagram, Chad Co official, on YouTube.
• 15:00
  [SPEAKER_00]: There's a podcast which is, uh, handle as co financial group, leadership insights.
• 15:06
  [SPEAKER_00]: I love to be able to connect with people.
• 15:08
  [SPEAKER_00]: I love to help, I love to listen and I'm just available for people to help move forward and to be able to create progress for themselves.
• 15:15
  [SPEAKER_00]: It's, uh, it's a working model that I've become addicted to and I thoroughly enjoy it.
• 15:20
  [SPEAKER_02]: Yeah, that's great, Chad.
• 15:21
  [SPEAKER_02]: Thank you so much.
• 15:23
  [SPEAKER_02]: We'll make sure we're put all your information to show notes and I'm so grateful you for sharing your experience and your perspective with us today.
• 15:29
  [SPEAKER_02]: Thank you for joining us.
• 15:31
  [SPEAKER_00]: Thank you, Greg.
• 15:32
  [SPEAKER_00]: I look forward to more interaction.
• 15:33
  [SPEAKER_00]: Take care.
• 15:34
  [SPEAKER_02]: YouTube.
• 15:36
  [SPEAKER_02]: What stands out from today's conversation is that success is not defined only by what we earn, build or accomplish.
• 15:43
  [SPEAKER_02]: It also reflects in how intentionally we make decisions, how responsibility we use the trust in others, place in us, and how our choices affect the people within our influence.
• 15:58
  [SPEAKER_02]: Thank you for joining us for another episode of Daily Influence.
• 16:01
  [SPEAKER_02]: Take one idea from today's conversation and turn it into action.
• 16:05
  [SPEAKER_02]: Again, if I want important decision you are facing, reconnect your values, and choose one specific step you can take this week to move forward with greater clarity and intention.
• 16:15
  [SPEAKER_02]: Help us spread positivity by subscribing and sharing daily influence.
• 16:20
  [SPEAKER_02]: Remember small actions create big impact, keep showing up, leading, and growing one day to time.
• 16:25
  [SPEAKER_02]: Until next time, stay inspired and keep having a positive, responsible influence.
• 16:30
  [SPEAKER_02]: Bye!