A couple of weeks ago I was asked by one of my co-workers about how the name of our firm came to be. I told her that it was a good question and that I would answer it at our firmwide town hall meeting the next day.

So, the next day, when everyone in our firm was gathered at our town hall meeting, I offered the following explanation about how we came to our name and how it explains our purpose.

It has been written that when it comes to achieving success, it is essential for an organization to have a clarity of purpose – it is a key element.

In fact, studies have shown that people who report having a sense of purpose have greater satisfaction at work, financial success, and overall life satisfaction. Indeed, having a clear sense of purpose is linked with a stronger sense of identity, emotional balance, and conviction.

When the firm was being formed, over a quarter of a century ago, I and the other founders wanted to establish a firm with a clear purpose and simple identity that expressed the core values and purpose of the firm. After much contemplation and discussion, we agreed upon Sage Advisory Services.

Over the years many have questioned why we selected our name wondering if there was a connection to someone’s name or the hardy the Texas sage that grows in our area or was it meant to infer that we could see the future like an old mysterious sage.

None of these explained the reason for the name of our firm. So why did we select our name?

The core purpose and mission of our firm is defined in our name in the following way:

The Merriam-Webster Dictionary defines “sage” as something, or an action proceeding from or characterized by wisdom, prudence, and good judgement. For us, the emphasis on the act of exercising prudence and good judgement found in this definition captured the essence of the most important thing that we sought to provide and accomplish.

The dictionary describes the word “advisory” as having or exercising the power to advise regarding a decision or course of conduct. Through our advisory efforts we wanted to make sure that we never forget our power to influence and determine the important actions taken for and by our clients. This is a great responsibility that can have a significant impact on the lives of our clients, and we must never forget that is why it is part of our name and central to our purpose.

Lastly, the dictionary defines the word “services” as the work performed by one that serves or a contribution to the welfare of others. We chose this word to try and explain what we do every day of our working lives and that is “make a contribution to the welfare of others.”

This focus relates to our clients, our co-workers, and the intermediaries we partner with each day.

So, in our name we find our purpose, and that is to exercise prudence and good judgement in all that we do. We respect the power and trust that we have been given to make a meaningful contribution to the welfare and benefit of our clients and their communities.

Most importantly, our purpose is firmly rooted in the concept and ideals of “servant leadership,” which prioritizes serving the greater good of our clients, colleagues, families, and communities before we prioritize our own.

And that is the story behind the name of our firm.

Thank you for listening, and please let us know if we can be of service to you.