Raj Patnaik and Mark Yancy, Guest columnists for The Tennessean
Nashville is growing. The signs are undeniable. A new skyscraper, a new restaurant and retail spaces running out of parking slots. These are all signs of an economic vitality that continues to grow.
We believe that with growth comes the profound responsibility to ensure that every resident has an opportunity to thrive. We also believe that there are ways to measure “thriving” that relate to physical wellness and mental well-being.
When we see cranes and construction, how can we also visualize creating an ethos of wellness for those that are constructing the building, and those that will eventually work or live in that building? Can wealth and overall wellness grow in step with each other? How does that look?
From our vantage points as a managing director of Morgan Stanley Private Wealth Management and CEO of NashvilleHealth respectively, we are determined to find out.
We believe we can represent and become catalysts for new kinds of relationships that make different industries collaborators for mutually beneficial value.
Together, we envision a Nashville where financial success goes hand in hand with metrics that define the vitality of our neighborhoods.
Financial prosperity is invariably tied to the health of our workforce, which is tied to the well-being of our neighborhoods. Living longer is tied to being healthier. Being healthier is tied to being more productive and present. A more productive and present workforce results in better key business performance indicators such as recruiting and retention, as detailed in NashvilleHealth’s Workforce Wellness Report in partnership with the Nashville Area Chamber of Commerce.
Better key performance indicators are key investment variables in wealth management. That cascade of links is why we believe we are invested in the same future. We believe our collaboration should be just one of many examples of pairing industries and disciplines not normally associated with each other that can synergize the wellness and prosperity of Nashville.
Indeed, the wealth management industry wields immense influence in shaping the trajectory of our city’s future. Through strategic investments and pioneering initiatives, we have the opportunity to evolve the landscape of health and wellness, pushing equitable access to resources for our residents to maximize their participation in our growing economy, create their own financial sustainability, and be part of a dynamic workforce.
However, this journey of transformation cannot be traveled alone. Given Nashville’s reputation as the “Health Care Capital” of the United States, health care organizations must partner with Nashville’s various industries such as wealth management, hospitality, entertainment, and tourism to lay the groundwork.
Synergistic collaboration creates limitless possibilities — a future where Nashville shines not only as a symbol of economic success but also as a sanctuary for well-being. We do not need to ignore profit margins to do this, but we must re-imagine how investing those profits creates a more sustainable future for our residents and creates a sense of solidarity where every person is empowered to flourish. This is a statement of value, not altruism or charity.
Morgan Stanley Private Wealth Management Nashville and NashvilleHealth will co-host an event on Oct. 24 at which industry leaders from different sectors will discuss how to better understand and improve Nashville’s community health profile.
Please support organizations that are working to create and sustain a spirit of wellness as our city grows and prospers. Many organizations, such as NashvilleHealth and the Matthew Walker Comprehensive Health Center, are running initiatives that promote health and well-being.
One of these initiatives is “The Heart of Nashville,” launched in February 2024, which creates Nashville’s first-ever Wellness Opportunity Zone. This zone is dedicated to reducing the alarming rates of high blood pressure in our North Nashville community, and then promoting and replicating the results to address various challenges to wellness throughout the city. This is just one way in which we can leverage collaboration to further our city’s prosperity and the well-being of its residents.
By working across sectors, we can create a Nashville where every resident enjoys the benefits of a thriving and inclusive community. Imagine a future where Nashville’s success is measured by both the economy of commerce and the economy of wellness, setting a powerful example for cities worldwide.
To learn more and get involved, visit www.NashvilleHealth.org.
Raj Patnaik is a financial adviser/private wealth adviser with the Wealth Management division of Morgan Stanley in Nashville. The views expressed herein are those of the author and may not necessarily reflect the views of Morgan Stanley Smith Barney LLC.
Mark Yancy is CEO of NashvilleHealth
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