Love Lasts And Pays

“Love never fails.”

“Love covers a multitude of sins.”

“Faith, hope, love – but the greatest is love.”

John, a good friend and fellow adviser for many years, was called home on Saturday 17^th January after two years of cancer, which he bore with grace and calm.

Everyone who knows John describes him as a loving and caring person. He was unselfish and self-sacrificial. He cared for people and kept up with friends. He is “a friend who loves at all times” and a friend “who sticks closer than a brother.”

At his funeral wake, many turned up and the eulogies were heartfelt and inspiring and fitting.

“Here was a trustworthy and trusted person who had loved and cared for his family, his friends and his fraternity” said his brother-in-law.

“Here was a caring person who had a timely word of advice for everyone and who despite his illness, kept to his station as a warrior”, said his pastor.

Here was a man of faith who looked to God to provide. He was in the financial advisory business and knew how to manage money, but was never driven by money.

As I prayed for John, the words which came often were “Lord, he whom you love is sick.”

How lovely it would be if everyone in our family or company is a loving and trustworthy person.

The greatest commandment to keep is to love God with all our heart, mind and strength.

The second greatest commandment is to love our neighbour as ourselves.

Why am I sharing this in this business blog?

The point is that we must regard our staff, our colleagues, our advisers, our prospects, our clients – everyone we meet day to day, as our neighbours.

Business people tend to regard others not as neighbours, but competitors. The “art of the deal” often means to get the better over the other person.

A good deal often means shortchanging the other person.

A NUS professor of business mentioned that he wants students who know what is value, and can add value.

Do we ask of each company policy that we make and each action we take – Is it fair? Is it right? Is it a loving thing to do?

Of course business policies and decisions have to be financially sound or the business will likely fail.

Can a businessman be a good loving Christian, and a good successful businessman at the same time?

The implication is that the good Christian will be too kind and does not have the gumption or the conscience to take advantage of clients or competitors.

My answer is that being fair and kind and honest is not the best policy – it is the only policy. Because sooner or later, business will fail if you lose the trust of your staff, advisers and clients.

In all agency contracts, an agent who dies in service will lose all his business, his commissions and fees, and if he is a manager, his overriding also.

In thinking about the issue, I only think it is fair to continue to pay the loved ones of the agent or adviser who had died, the commissions and fees due to him, not just for one year or a few years, but ideally in perpetuity.

But who would be providing the service to the so called “orphan clients”, and how would he be compensated?

The solution is to find an agent or adviser who is willing to do it and be compensated say, 20 per cent of the  commissions or fees. The extra benefit is that if he does the servicing well, he will receive the commissions and fees for new sales.

This is precisely what we would do, and I am sure it will bring a smile to the bereaved family.