Today's advisors are not only charged with managing a client's life savings, they're also being asked to provide insight on how clients can best manage their final career years -- most notably, whether or not they should keep doing what they've been doing or take a leap of faith and start pursuing a dream or passion. No matter what you've read or heard, helping clients find or rekindle a passion that either helps them semi-retire, or puts them in a position to give back as well as add purpose to everyday life is one of the single biggest trend hitting our industry.

Last year I chatted extensively with a 50-something who expects to be laid off in 2012. He shared his quandary about returning to school or starting a business, one representing a passion for learning, the other a longstanding dream. Similarly, a recently divorced baby boomer was contemplating whether she should re-enter the nursing field or follow her desire to become an interior designer. Another client who, prior to retirement, never uttered a word about politics has become so engrossed in government that he's involving himself in local campaigns and is actually kicking around the idea of running for elected office.

This growing trend is easy to understand since living a passionate life is the ultimate personal and financial achievement that most people desire, simply because it provides purpose and direction to everything a person thinks, says, and does. It can give your clients a reason to wake up smiling in the morning and something to be thankful for every night.

Helping clients find their passion in life isn't as difficult as you may think. I personally stumbled upon a formula at a conference several years ago. An advisor, whom I'd never met, approached me and leaned in to ask, "Are you passionate about your work?"  Feeling challenged, I replied, "Yes, of course I am." He followed up with, "How do you know that?" I guess I wasn't as prepared as I thought, and at the time probably didn't come across as "passionate," despite the fact that in many ways I was.  

Following my less than stellar comments, this advisor said something I remember to this day. He said, "You know you're passionate about your work -- that you have found your purpose in life -- when you can say that your pursuit of it is timeless, tireless and causes contagious energy." For me, that was a wow moment! Imagine, three simple adjectives that changed my life forever and added new energy and excitement to my professional path.

This gave me a formula that I could not only apply to my life and career but also use to help others find their passion.

Path To Passion:
1)    What feels timeless when you do it?
2)    What can you relentlessly pursue without ever growing tired of it?
3)    What is a constant source of energy in both your words and actions?

When the amount of time spent pursuing something is irrelevant, it becomes timeless. When you never grow tired and continue to nurture the pursuit, it becomes tireless. When the pursuit itself actually creates the energy it takes to make it timeless and tireless, you've found your passion in life.

Finding your passion in life makes you a member of a truly exclusive club, light years ahead of how others move through existence. There are, however, several critical aspects to the search for passion you should discuss with clients. The fact is, finding one's passion and living a purpose-driven life is not free, and throughout this transition, clients will require strategies to stay motivated (and passionate) which can include support from you, their trusted advisor.

Free Passion?
There's an economic principle referred to as TINSTAAFL which means There Is No Such Thing As A Free Lunch. For me, that acronym is an easy way to remember that nothing in life is free, and that anything worth having comes at a cost. Finding and living a passionate life is no different; it takes time, requires discipline, demands commitment, and won't come without practice. Whether your client's passion is starting a business, lending a helping hand at a local non-profit, or teaching a skill or trade to future generations, it's important to help them understand they still have to give something to live it.

This point is important because, whatever your clients decide to pursue, it won't necessarily be simple or easy. That makes it crucial for you to have both conversations and resources ready to help them understand the steps they'll have to take on this journey once the initial enthusiasm and excitement subside. The nice thing about our role as advisors is that we have resources. Outside of your traditional COIs, I suggest you establish a relationship with an experienced commercial lender, volunteer business organization such as S.C.O.R.E., and maintain web and marketing contacts that can help them estimate both potential profits and more importantly, ongoing costs.

Establishing a passion as part of a semi-retirement plan or as a means of giving back may not be free, but the tradeoff for devoting time, energy and resources often results in a substantial net gain. Interestingly, I find that passionate people are more appreciative of the things they did to get them where they are instead of the actual trappings of their success. They know most people will never be willing to make the same sacrifices they made; and that's the beauty of being among the select few who made the effort and paid the price to find and live a passionate life.

Staying Motivated
Keeping myself personally motivated and helping others become motivated are among my favorite aspects of life. It's really just a matter of being willing and able to change the lens through which you look at things and staying open to new and different ideas. The advisor industry is flush with new concepts and new ways to see, available from magazines like Financial Advisor, industry conferences, books, webinars, and more. You don't have to look far to get a different set of eyes or find innovative ideas. Your clients may need these same tools in pursuit of their passion. Encourage them to get involved with their chosen industry, to find a close set of peers with whom they can either develop a mastermind alliance or brainstorm with. Encourage them to leverage social media as a means of getting support as well as feedback on their ideas and endeavors.

One simple strategy for providing motivation and support to a client is to e-mail a motivational story or quote to them when you come across something moving. Over the years I have put together a number of short stories that deal with achieving success, which I read and e-mail to other passion pursuers when fitting. Here's one of my favorites:

On a cold, rainy Sunday morning a young preacher was trying to prepare his sermon for the day. He was struggling to find a personal message for the sermon with just the right example. His task was complicated by his young son Jimmy, who was bored and constantly interrupting him.

The preacher tried several activities to occupy little Jimmy but none of them were working, and time was becoming an issue. Frustrated, the preacher picked up an old magazine, quickly flipped through it, and finally stopped on a brightly colored picture of the world. He pulled the page from the magazine, cut the picture into bits and pieces, and scattered them on the floor. He told Jimmy, "If you can put this puzzle back together, I'll give you a dollar." The young preacher returned to his office thinking it would take Jimmy most of the morning.

Ten minutes later, there was a knock on his door and there stood Jimmy, smiling ear-to-ear with the puzzle completed. The preacher was shocked to see that Jimmy finished so quickly, with all the pieces neatly arranged and the picture of the world back in order. He asked his son, "How did you finish the puzzle so quickly?" Jimmy replied, "Easy! There was a picture of a person on the other side of the world. I just put a piece of paper on the floor, put the picture of the person back together, and then flipped it over. I figured if I got the person right, the world would be right too!"

The preacher laughed out loud and handed his son a dollar. He had his sermon for the day: "If the person is right, the world will be right too."

I believe there is great wisdom in this story and others like it, just as I believe there is a great future for advisors who are willing to take the extra time, energy and effort to help "get their clients right" because it will create the "right" future for our industry.

As financial professionals we have a very unique set of qualifications and experience that gives us insight into how and why people, businesses and organizations are successful. We work with so many types of people, all while running our own business; and that's why our opinions are sought on issues such as how best to manage a client's final career years, and how to begin pursing a dream or a passion. We have the skills and knowledge to help people make a major difference in their lives, as well as the world we live in.  

How about you?  Are you passionate about your work?  How do you know it?  Is it timeless, tireless, and does it cause contagious energy?  I'd like to hear about it.

Robert Laura is the president of SYNEGOS Financial group, co-founder of RetirementProject.org, creator of the Laddered Dividend Portfolio, and author of Naked Retirement. He can be reached at [email protected].