As Houlihan Lokey puts it:
What was once an obscure and somewhat unconventional investment thesis
has matured into a robust alternative asset class
This is great to see, not only because I lead an organization whose thesis has been to develop and support this market, but because seniors of America deserve a robust development of this market in order to help meet their post-retirement economic needs.
Businesses can serve a greater purpose – and the secondary life insurance industry stands to make a dramatic difference in the lives of our senior population. I recently wrote about how business leaders can and should define their businesses by a greater purpose. In that piece, I highlight the personal story of John and Donna McMullin of Godfrey, IL and how the industry made a difference.
Side Bar: Just prior to visiting and meeting the McMullins, I watched the Ken Burn’s series on The Vietnam War (which if you have not seen, should be mandatory viewing for every American). Once you watch this documentary, you will appreciate how moving it was to help John McMullin, a Marine who served in a Vietnam Recon Unit.
The story of the McMullins is not unique, and the robust development of this asset class simply means more people like the McMullins will receive life-changing benefits from the assets they own. When I wrote about having a greater purpose for business, I did not realize I was connecting with the key principle of Conscious Capitalism.
Four Principles of Conscious Capitalism
This year I am attending the 2018 Conscious Capitalism Conference. I have been looking forward to attending this conference for years. It will be a challenge, a challenge of leadership, to see how I can leverage communal mission of this group to elevate the call for greater robust market development – now that institutional investors have finally arrived – a necessary precondition before the latter effort of the general market development can begin. I know we have already made a difference in the lives of individuals like John and Donna McMullin, I can only hope we can serve many, many more.