Kick back, relax, get smart: A financially savvy summer reading list
June 22, 2018 1:26 PM
The summer is here, and while we may still be waking up at 7 o’clock to start the commute to our desks, the warmer weather and longer days simply ask for us to take a few moments to ourselves — at least a few more than we might have grown accustomed to in the cold, winter months.
That said, there are some forms of leisure time you can easily write off as an investment, too. We would argue that reading is one of them.
At Financial Planning, we asked wealth management executives to give us book recommendations. These are tomes that made a positive impact on them or equipped them with tools to succeed in their roles.
On your next much-anticipated Saturday, or future vacation days spent lying in a hammock, cozy up with one of these titles and learn something that will help your work life when you get back.
Click through the list to learn more.
That said, there are some forms of leisure time you can easily write off as an investment, too. We would argue that reading is one of them.
At Financial Planning, we asked wealth management executives to give us book recommendations. These are tomes that made a positive impact on them or equipped them with tools to succeed in their roles.
On your next much-anticipated Saturday, or future vacation days spent lying in a hammock, cozy up with one of these titles and learn something that will help your work life when you get back.
Click through the list to learn more.
Personal History by Katharine Graham
Recommended by Kunal Kapoor, chief executive officer of Morningstar
“I loved this autobiography by Katharine Graham, a woman who many doubted when her husband died and she became publisher of The Washington Post. But she persevered and beat the odds to become a very successful businesswoman. And she did it in a very thoughtful and humane way. As a business leader, I was inspired by her ability to be a good leader and a good human, because it's important to be both.”
“I loved this autobiography by Katharine Graham, a woman who many doubted when her husband died and she became publisher of The Washington Post. But she persevered and beat the odds to become a very successful businesswoman. And she did it in a very thoughtful and humane way. As a business leader, I was inspired by her ability to be a good leader and a good human, because it's important to be both.”
Quiet: The Power of Introverts in a World That Can't Stop Talking by Susan Kane
Recommended by Kate Healy, managing director of Generation Next at TD Ameritrade
“I read ‘Quiet’ several years ago, and it struck a chord with me because it defined introversion and how that is different than shyness. It gave me a better understanding of how our minds respond to the work we do and which environments stimulate each of us best. Also, it gave me a clearer understanding of what truly motivates and refreshes me, as well as help to understand how to work with teammates to get the best out of each of them. As a result, I’ve altered how I conduct meetings, as well as how and when I schedule downtime.”
“I read ‘Quiet’ several years ago, and it struck a chord with me because it defined introversion and how that is different than shyness. It gave me a better understanding of how our minds respond to the work we do and which environments stimulate each of us best. Also, it gave me a clearer understanding of what truly motivates and refreshes me, as well as help to understand how to work with teammates to get the best out of each of them. As a result, I’ve altered how I conduct meetings, as well as how and when I schedule downtime.”
The Soul of America: The Battle for Our Better Angels by Jon Meacham
Recommended by James Poer, chief executive officer of Kestra Financial
"Using some of the most relevant struggles in our country’s history, this book helps put our current political climate in perspective. In a time of increasing tribalism, the narrative delivers a broader historical perspective that helps frame how our country can emerge stronger than before."
"Using some of the most relevant struggles in our country’s history, this book helps put our current political climate in perspective. In a time of increasing tribalism, the narrative delivers a broader historical perspective that helps frame how our country can emerge stronger than before."
Traction: Get a Grip on Your Business by Gino Wickman
Recommended by Eric Clarke, chief executive officer of Orion Advisor Services
"Reading ‘Traction’ this year was an eye-opening experience for me. The Entrepreneurial Operating System (EOS) outlined in the book will absolutely take your business to the next level. This book contains practical, grounded advice for sustaining success, integrating several best practices into a holistic system for running a growing business. We are already busy implementing the EOS here at Orion, and we're thrilled with the early results."
"Reading ‘Traction’ this year was an eye-opening experience for me. The Entrepreneurial Operating System (EOS) outlined in the book will absolutely take your business to the next level. This book contains practical, grounded advice for sustaining success, integrating several best practices into a holistic system for running a growing business. We are already busy implementing the EOS here at Orion, and we're thrilled with the early results."
Extreme Ownership: How U.S. Navy SEALs Lead and Win by Jocko Willink and Leif Babin
Recommended by Matt Cooper, president of Beacon Pointe Wealth Advisors
“The primary thing that resonated is that there’s no such thing as bad teams, only bad leaders ... If you think about it, that requires the leadership and organization of a team to take full ownership of all the outcomes. If you have a non-performer on your team, that’s on you.”
“The primary thing that resonated is that there’s no such thing as bad teams, only bad leaders ... If you think about it, that requires the leadership and organization of a team to take full ownership of all the outcomes. If you have a non-performer on your team, that’s on you.”
Principles by Ray Dalio
Recommended by Matt Cooper, president of Beacon Pointe Wealth Advisors
“He talks a lot about culture and people. And you have to get both right, because you can’t have one without the other… The emphasis on those two things is profound.”
“He talks a lot about culture and people. And you have to get both right, because you can’t have one without the other… The emphasis on those two things is profound.”
Be a Player: A Breakthrough Approach to Playing Better on the Golf Course by Pia Nilsson and Lynn Marriott
Recommended by Libby Cherrington, owner of Conscious Capital
“Upon first glance, this book by Pia Nilsson and Lynn Marriott may present itself as a mere how-to guide on mastering your golf game, but the strategies outlined herein translate fittingly to the financial advisor practice....The book is a must-read for advisors who are looking to explore ways in which they can smoothly navigate fluctuations in physical, mental and emotional state when facing challenging situations with clients. By explaining how to refocus energy into solving these issues through a balanced combination of aptitude and attitude, the book serves as a great guide for advisors who are looking to improve their practice and expand their capabilities in order to drive growth.”
“Upon first glance, this book by Pia Nilsson and Lynn Marriott may present itself as a mere how-to guide on mastering your golf game, but the strategies outlined herein translate fittingly to the financial advisor practice....The book is a must-read for advisors who are looking to explore ways in which they can smoothly navigate fluctuations in physical, mental and emotional state when facing challenging situations with clients. By explaining how to refocus energy into solving these issues through a balanced combination of aptitude and attitude, the book serves as a great guide for advisors who are looking to improve their practice and expand their capabilities in order to drive growth.”
The Essays of Warren Buffett: Lessons for Corporate America by Warren Buffett
Recommended by Rich Guerrini, chief executive officer of PNC Investments
“A great book for me is one that becomes a resource over time — one that I refer back to as a reference or to remind me about quality fundamentals. This book is one that is applicable to a first time investor or recent college graduate entering the workforce, as well as a senior executive needing sound advice and motivation. The words written by Mr. Buffet are clear and basic and the fundamental practices referenced in the book will never go out of style.”
“A great book for me is one that becomes a resource over time — one that I refer back to as a reference or to remind me about quality fundamentals. This book is one that is applicable to a first time investor or recent college graduate entering the workforce, as well as a senior executive needing sound advice and motivation. The words written by Mr. Buffet are clear and basic and the fundamental practices referenced in the book will never go out of style.”
Onward: How Starbucks Fought for its Life Without Losing its Soul by Howard Schultz
Recommended by Andrew Crowell, vice chairman of wealth management for D.A. Davidson
“‘Onward’ offers an unvarnished yet inspirational assessment of how heart and values matter and how a global brand can remain true, or be restored, to its roots as it grows and matures even if it wanders off course."
“‘Onward’ offers an unvarnished yet inspirational assessment of how heart and values matter and how a global brand can remain true, or be restored, to its roots as it grows and matures even if it wanders off course."
The Social Business Imperative: Adapting Your Business Model to the Always-Connected Customer by Clara Shih
Recommended by Andrew Crowell, vice chairman of wealth management for D.A. Davidson
“Far beyond simply ‘a channel’ or alternative media buy, social media has created a tectonic shift in how companies and consumers engage and transact such that businesses need to completely re-architect processes to remain competitive and relevant. Interwoven with dozens of ‘case studies’ from companies across industries, this book will challenge readers to plan and decide how they will immerse and transform their business for this new era."
“Far beyond simply ‘a channel’ or alternative media buy, social media has created a tectonic shift in how companies and consumers engage and transact such that businesses need to completely re-architect processes to remain competitive and relevant. Interwoven with dozens of ‘case studies’ from companies across industries, this book will challenge readers to plan and decide how they will immerse and transform their business for this new era."
Leonardo da Vinci by Walter Isaacson
Recommended by John Taft, vice chairman of Baird
"An entertaining presentation of one of the most extraordinary intelligences in human history. Da Vinci’s insatiable curiosity, powers of observation and willingness to experiment are inspiring, as are his insights into the fact that reality is nuanced, complex, and interrelated, not about hard edges and straight lines."
"An entertaining presentation of one of the most extraordinary intelligences in human history. Da Vinci’s insatiable curiosity, powers of observation and willingness to experiment are inspiring, as are his insights into the fact that reality is nuanced, complex, and interrelated, not about hard edges and straight lines."
Atlas Shrugged by Ayn Rand
Recommended by Tim Hockey, chief executive officer of TD Ameritrade
“To an impressionable 13-year-old, it was all about the importance of personal responsibility and achievement — and the dangers of a world where this is not valued or even oppressed. 'Atlas Shrugged' had elements of science fiction and a bit of a dystopian future, a good yarn combined with an object lesson.”
“To an impressionable 13-year-old, it was all about the importance of personal responsibility and achievement — and the dangers of a world where this is not valued or even oppressed. 'Atlas Shrugged' had elements of science fiction and a bit of a dystopian future, a good yarn combined with an object lesson.”
Awareness: The Perils and Opportunities of Reality by Anthony de Mello
Recommended by Joe Duran, founder and chief executive officer of United Capital
"Reading 'Awareness' was the starting point of genuinely deep levels of personal growth. The idea of this book is that if you cannot manage yourself, you cannot manage anything around you. It also helps to ensure we are not living our lives unconsciously making choices that harm us. It is one of the cornerstone ideas upon which our entire planning process is built. Step one in improving your life is being honest about yourself."
"Reading 'Awareness' was the starting point of genuinely deep levels of personal growth. The idea of this book is that if you cannot manage yourself, you cannot manage anything around you. It also helps to ensure we are not living our lives unconsciously making choices that harm us. It is one of the cornerstone ideas upon which our entire planning process is built. Step one in improving your life is being honest about yourself."
The Triple Package: How Three Unlikely Traits Explain the Rise and Fall of Cultural Groups in America by Amy Chua and Jed Rubenfeld
Recommended by Rob Mooney, chief executive officer of Snowden Lane Partners
"As people increasingly question the 'achievability' of the American dream, Chua and Rubenfeld put forward a theory about why various cultural groups in the US have and continue to achieve it ... and why some have lost their way. A valuable set of considerations for any financial advisor in understanding potential clients and even their own scope of achievement."
"As people increasingly question the 'achievability' of the American dream, Chua and Rubenfeld put forward a theory about why various cultural groups in the US have and continue to achieve it ... and why some have lost their way. A valuable set of considerations for any financial advisor in understanding potential clients and even their own scope of achievement."
Grant by Ron Chernow
Recommended by Rob Mooney, chief executive officer of Snowden Lane Partners
"A convincing read and useful perspective for anyone interested in a thorough analysis of a somewhat maligned historical figure who was, in fact, one of the most competent military men in American history. Also, an inspiration for anyone over 40 who wonders if there is still time for great success. "
"A convincing read and useful perspective for anyone interested in a thorough analysis of a somewhat maligned historical figure who was, in fact, one of the most competent military men in American history. Also, an inspiration for anyone over 40 who wonders if there is still time for great success. "
On China by Henry Kissinger
Recommended by Rob Mooney, chief executive officer of Snowden Lane Partners
"Given the dramatic geopolitical shifts currently underway in Asia, a useful read for any financial advisor active in international markets and seeking to better understand China and the U.S.’s likely roles in the unfolding global landscape."
"Given the dramatic geopolitical shifts currently underway in Asia, a useful read for any financial advisor active in international markets and seeking to better understand China and the U.S.’s likely roles in the unfolding global landscape."
Start with Why: How Great Leaders Inspire Everyone to Take Action by Simon Sinek
Recommended by Blaine Aikin, executive chairman at Fi360
"The key takeaway is that most of us focus too quickly on tasks we think need to be done before we frame an overarching purpose for our actions — why the issue at hand is worthy of our highest attention. Clarity of purpose (why) is a prerequisite for proper prioritization of strategies (how), and tactics (what)."
"The key takeaway is that most of us focus too quickly on tasks we think need to be done before we frame an overarching purpose for our actions — why the issue at hand is worthy of our highest attention. Clarity of purpose (why) is a prerequisite for proper prioritization of strategies (how), and tactics (what)."
Tuesdays with Morrie: An Old Man, a Young Man and Life's Greatest Lesson by Mitch Albom
Recommended by Shannon Saccocia, chief investment officer of Boston Private Wealth
“Having never experienced death at the time when I read the book, [it] was very meaningful for me to think about going through that process, and [it] helped me when I did experience the death of a loved one.”
“Having never experienced death at the time when I read the book, [it] was very meaningful for me to think about going through that process, and [it] helped me when I did experience the death of a loved one.”
The Alliance: Managing Talent in the Networked Age by Reid Hoffman, Ben Casnocha and Chris Yeh
Recommended by Alan Moore, co-founder of XY Planning Network
“It had such an impact on the way that I view creating job opportunities for new team members. [It helped me] frame them in a way that gives folks a career path and something they can really hold on to."
“It had such an impact on the way that I view creating job opportunities for new team members. [It helped me] frame them in a way that gives folks a career path and something they can really hold on to."
The Daily Stoic: 366 Meditations on Wisdom, Perseverance, and the Art of Living by Ryan Holiday and Stephen Hanselman
Recommended by Mark Spina, head of U.S. advisor and intermediary solutions at Russell Investments
"Fortunately for us, Marcus Aurelius took time each day to write down his thoughts on how to think, how to live and how to most effectively handle obstacles. This ancient and intentional approach to living doesn’t offer easy answers, but it does provide hard-earned wisdom on how to succeed at the challenges advisors choose to accept, every day."
"Fortunately for us, Marcus Aurelius took time each day to write down his thoughts on how to think, how to live and how to most effectively handle obstacles. This ancient and intentional approach to living doesn’t offer easy answers, but it does provide hard-earned wisdom on how to succeed at the challenges advisors choose to accept, every day."
Outliers: The Story of Success by Malcolm Gladwell
Recommended by Christine Nigro, vice chairman of AXA Advisors
“I firmly believe in jumping at chances to learn from new people and experiences. When I interact with different people, I get to learn about what they know and are good at. Not only does my base of knowledge expand, but doors open to previously unimagined challenges and inspirations. Malcom Gladwell’s ‘Outliers’ provides that opportunity to learn from some of the most successful people in the world — all packaged in one book."
“I firmly believe in jumping at chances to learn from new people and experiences. When I interact with different people, I get to learn about what they know and are good at. Not only does my base of knowledge expand, but doors open to previously unimagined challenges and inspirations. Malcom Gladwell’s ‘Outliers’ provides that opportunity to learn from some of the most successful people in the world — all packaged in one book."
