Episode 174 - Sacrifice as a Road to Victory with Sam Rhee of Endowus
Jun 17, 2024
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In this enlightening discussion, Sam Rhee, a former CEO and co-CIO at Morgan Stanley who founded the fintech platform Endowus, shares his incredible journey in fintech and faith. He reflects on how the biblical story of Abraham and Lot inspired him to prioritize a colleague's success over his own ambitions. The conversation navigates the balance between faith and career in finance, the emotional complexities of ambition and friendship, and the urgent need for addressing retirement savings issues in Asia, all while emphasizing sacrificial choices that lead to true victory.
Sam Rhee's story illustrates the transformative power of sacrifice in aligning career ambitions with spiritual values and relationships.
The establishment of Endowus by Sam reflects a commitment to democratizing financial management and promoting ethical practices in the industry.
Deep dives
Sam Rhee's Journey and Identity
Sam Rhee, co-founder of Endowas, experienced a unique identity struggle throughout his life, growing up in a multicultural environment while navigating the complexities of his Christian beliefs. Raised by a pastor in a family that valued leadership outside traditional ministry, Sam initially pursued a career in finance out of circumstance rather than intention. He became successful at Morgan Stanley, but found himself torn between professional ambition and spiritual values, reinforcing the idea that true identity comes not from titles or achievements but from Christian principles of service and sacrifice. This internal conflict is a common theme among faith-driven entrepreneurs who often grapple with aligning their career ambitions with their spiritual beliefs.
The Power of Sacrifice
A turning point in Sam's story occurred when he was presented with a promotion opportunity at Morgan Stanley that pitted him against a close colleague. Instead of competing for the role, he embraced a principle of sacrifice similar to the biblical story of Abram and Lot, ultimately choosing to let his colleague take the promotion. This decision was rooted in a profound understanding of Christian values, emphasizing that true leadership includes sharing success and uplifting others rather than seeking personal advancement. By prioritizing relationship and trust over ambition, Sam demonstrated a radical commitment to his faith, highlighting that real fulfillment comes from selfless actions.
Creating Impact through Endowas
Sam's experiences catalyzed his desire to address pressing financial issues, leading him to establish Endowas, a wealth tech platform focused on democratizing money management. Understanding the daunting challenges of inadequate retirement planning, especially in rapidly aging Asian markets, he aimed to empower individuals in their financial journeys. Endowas not only seeks to provide individuals with the tools to manage their wealth better but also strives to promote ethical financial practices within the industry. Ultimately, Sam's mission reflects a deeper commitment to align his entrepreneurial efforts with his faith, illustrating how sacrifice and purpose can create meaningful change in the world.
In this special edition of the Faith Driven Investor Podcast, we highlight the story of Sam Rhee.
Sam was formerly a CEO and co CIO, global head of Asia at Morgan Stanley before starting the fintech platform, Endowus.
Today, Endowus primarily serves Asian markets with $5 billion in assets under management and has recently raised 95 million dollars in outside capital.
In this unique narrative-style podcast, we hear how the biblical story of Abraham and Lot inspired Sam Rhee to step aside from the role of his dreams for the sake of a colleague and how God used that sacrifice to pave a path for victory.
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