For objectivity, let's turn to that eminent source of wisdom and perspective, Webster's Ninth New Collegiate Dictionary. The most relevant definition of "goal" is "the end toward which effort is directed." For "objective," the most relevant definition is eerily similar: "something toward which effort is directed; 'an aim, goal or end of action.' "
Disdaining redundancy, I suggest the two words are effectively synonyms for our purposes. Specifically, within each, we find the concepts of "effort," "end" and "directed."
Upon further inquiry: "Effort" contains concepts of endeavor, exertion, struggle, power, strength, attempt and force. Specifically, this means our efforts within the planning relationship when we perform these acts with aspirations of helping our clients achieve their goals and objectives. Effort describes process. Undertaking. Energy. Effort is subsumed within the act of work.
In Brother Gates' thesaurus, the word "directed" leads us to notions of heading for, bound for, going to, aimed at and intended for. It is a word of purpose and function that leads us, in turn, to the object of work or the "end."
"End" is the object of any undertaking-that to which our efforts must be directed. "End" demands we answer the questions: "What is the point of it all?" "What is the point of our work?" In other words: "What is the nature of the 'end' toward which our efforts are directed?"
Now, I suggest, this is the point. This "end" may range from something simple as, "I want a pony" to a seeming imperative, "I want 'enough' to be confident I will never run out of money" to the spiritually complex, "I want to live my life with meaning, purpose, joy and spiritual satisfaction." Alternatively, the "end" could mean, "I want my kids to get it all" or "I want my children to be happy, functional, mentally and spiritually healthy adults." At the end of the day, I suggest that it is fundamentally up to the client to define her own "ends." More specifically, at this end of the day, it is not up to us as advisors to finish this piece of the work. At best, we can facilitate. At best, we can solve the problems as presented. Clients get to define their goals and objectives, not advisors. Nonetheless, since many clients can't easily articulate their real goals and objectives, advisors must probe and peel the layers to determine the message behind the music.
These are delicate acts of balance, art and vision. "I want to retire at 65," by definition, includes notions of living, saving, investing, protecting, health, future-think, skill maintenance and a range of collateral intangibles. "I want my children to be happy, functional, mentally and spiritually healthy adults" may require sophisticated preparation and the engagement of collateral professionals. This is where advisory practitioners must play little games and make assumptions, while salesmen probe for vulnerabilities. This is where we work in the dusky regions between sunshine and the abyss. This is where we ascertain and record our clients' goals and objectives and then work to establish a plan, entailing an end toward which our efforts are directed. This is where we proclaim our understanding or sell them the solutions from our own particular samples case.
Obviously, these are issues of nuance, not precision. These issues can easily grade from the shallow to the profound. They can range from survival, to enough to full-blown self-actualization.
There is nothing inherently wrong with a shallow goal. However, isn't something seriously amiss if we settle for the superficial goal, even when we actually discern more and have the permission to seek it? Is it not inherently wrong to hear more from a client, overlook the heart of his aspirations and then proclaim our own will paramount?
The point is not whether we are merely facilitators of financial transactions or self-elevated spiritual counselors. Goals and objectives are more than wish lists, but less than salvation. Understanding, identifying, accepting and actualizing the goals and objectives for clients are crucial and amazing skills. If we are to pass the test that matters-our clients' success at achieving what is most important to them within the boundaries of their personal financial realities-then shouldn't the identification of their goals and objectives get our very best?