Finspire Annual Update – March 2023
March 31, 2023
PERSEVERANCE, INNOVATION AND PERFORMANCE
We entered 2022 realizing that economic uncertainties were building and we approached them head on, as we have all other challenges we’ve faced in years past. Our determined team navigated their way through the impact COVID-19 had on our office dynamics with a desired return to our “normal” schedules. With the US equity market peaking on 1/3/2022 followed by the Russian invasion of Ukraine, it was important for our team to respond accordingly with another round of innovative and constructive ideas. I give tremendous credit to our team’s positive attitude and willingness to adapt to change all while discovering new opportunities for growth and client success. Our collective work has been recognized by our industry peers which has culminated into three recent announcements from three different organizations: National Association of Plan Advisors (“NAPA”), Defined Contribution Institutional Investment Association (“DCIIA”) and PlanAdviser.com.
NAPA TOP DC ADVISOR TEAM 2022
We have been recognized for the 4th consecutive year as one of NAPA’s Top DC Advisor Teams across the country. Plan sponsors are seeking strategic advice in areas of achieving a competitive plan design, enhancing retirement security for their participants, and delivering financial planning workshops at the worksite. We are here to help.
2022 DIVERSITY, EQUITY & INCLUSION AWARD
Calla Gorman was recognized as a Rising Star for her efforts leading our Diversity, Equity and Inclusion initiatives for the second consecutive year. It is an honor to be included with a select group of industry peers making a difference at the workplace and in our respective communities.
RETIREMENT PLAN ADVISER OF THE YEAR FINALIST
We are very proud to report we were selected as a finalist for the 2023 PLANADVISER Retirement Plan Adviser of the Year award in the Mentorship category. When we started Finspire in December 2018, we wanted to build a culture that not only supports our employees, clients, and community, but also impacts the industry. Mentorship is not only the right thing to do, but also essential for the long term prosperity of our firm and good of our industry.
A LOOK AHEAD…
We continue to innovate by meeting our clients where they are: at the worksite and immersed in their busy daily lives. We expanded our service model to incorporate dynamic changes at the worksite, such as business or retirement plan mergers and acquisitions where companies and their employees find themselves in transition from one ownership group to another. We completed 13 retirement plan merger/acquisition projects in 2022 on behalf of private equity firms and insurance advisors seeking fiduciary guidance relating to an upcoming transaction. Our 2022 activity reinforced what we have learned from our project history and introduced some new solutions.
Our multi-family office service model was enhanced with additional banking, bill pay, trust and private investment capabilities. We are excited about the growth of our asset and liability management platform while incorporating the impact of new legislation into our strategic financial planning guidance.
Speaking of new legislation, we have shared our SECURE ACT 2.0 strategy guide and the financial planning impact it will have on both employers and employees. The competition for labor is likely to remain prevalent across the entire income spectrum. Non-qualified plans are increasingly being implemented, reviewed, and enhanced to recruit and retain key personnel. And we would be remiss not to mention the complexity today’s capital markets offer investors.
Our commitment to our employees and our community includes allocating a percentage of our profits to our team and to support various charitable causes and organizations. In 2022, we made contributions to the Jewish United Fund to help combat the rise in anti- Semitism, to Special Spaces to lift the spirits of children battling severe illnesses, and to WINGS, an organization supporting victims of domestic violence. Our volunteer time and monetary donations have supported numerous organizations since our inception, and you can find them all on our website, FinspireMe.com.
We encourage you to share your thoughts and ideas with us as we collaborate with our stakeholders, strengthen current relationships and build new ones. Please share this annual update with someone who could benefit from having a conversation with our team. Cheers to good health, happiness and prosperity in 2023.
Sincerely,
Chuck Williams
Chief Executive Officer
Chris Karam
Chief Investment Officer
James Jaramillo
Director of Relationships
Important Disclosures:
Securities offered through IFP Securities, LLC, dba Independent Financial Partners (IFP), member FINRA/SIPC. Investment advice offered through IFP Advisors, LLC, dba Independent Financial Partners (IFP), a Registered Investment Advisor.IFP and Finspire, LLC are not affiliated. The information given herein is taken from sources that IFP Advisors, LLC, dba Independent Financial Partners (IFP), IFP Securities LLC, dba Independent Financial Partners (IFP), and it advisors believe to be reliable, but it is not guaranteed by us as to accuracy or completeness. This is for informational purposes only and in no event should be construed as an offer to sell or solicitation of an offer to buy any securities or products. Please consult your tax and/or legal advisor before implementing any tax and/or legal related strategies mentioned in this publication as IFP does not provide tax and/or legal advice. Opinions expressed are subject to change without notice and do not take into account the particular investment objectives, financial situation, or needs of individual investors.