Inspire Financial

How is your organization embracing digital banking trends?Our Financial University is something that anyone can watch online on their time table. The work we do with GRIPs helps people across the country. We do all of our demonstrations via zoom.

What strategies are you using to enhance customer trust?All of the strategies I embrace are Guaranteed. I do not put a lot of trust into historical. The truth is that things change. We have movements in the markets that destroy portfolios. I call these portfolio killer events and they happen every 10 to 15 years.

How do you see the role of cryptocurrency evolving?The biggest hurdle that crypto currency faces is that it tightens control on the consumer. This will be unsettling for three groups of people. The first group is people that work under the table and do not use traditional banking. I am not necessarily am talking about crooked people. For instance, how will the amish pay for goods and services? There are a lot of people that live under the radar such as the amish. The second group are the people that do not trust the government. This second group is way more vocal about crypto currency. Crypto currency gives the government more control over their wallets. At any moment the government can lock them out of their funds. You will need time to win over this second group. finally, the third group is people that do not see it as real. Warren Buffet famously said he would sell it if someone gave him it as a gift. He just does not see it as real money. Until people see it as real money, it will not take that next step of actually being a currency that people use regularly.

What are your top priorities for managing risk and compliance?The things that I focus on have guarantees. I explain to my clients that the financial techniques I teach will provide success. I do not promise any get rich quick schemes. What I do is focus on the products that offer guarantees and stay away from the products that are speculative.

How do you ensure financial literacy among your clients?I try and keep things simple. Lots of financial professionals like to talk over their clients heads. I always thought this was silly. Your job as a financial professional is to educate. The best way to educate is to talk to your clients without using any financial jargon. Just keep the concepts simple.

What impact is fintech having on traditional banking models?Technology is great. We are making strides to make the process more user friendly for both the financial professional and the client. However, there is one thing that fintech will have a hard time addressing. “How will this effect me?” All the explainations in the world are great, but in the end people want to know how this will effect them. For that you will always need a financial professional that can explain that to them.