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Reflections from 5 Years in Business

Writer's picture: Inspire Wealth PartnersInspire Wealth Partners

Five years down!


It's a milestone I reflect on humbly and gratefully because the vast majority of firms and financial advisors don’t make it this long.


As a brief aside, I don’t celebrate milestones often enough. Life deserves to be celebrated because it can be pretty dang short and never guaranteed.


I started Inspire Wealth Partners half a decade ago because, to my core, I believed financial advice could and should be different. 


Instead of only managing a portfolio of stocks and bonds, I believed Inspire Wealth Partners could also be a platform to inspire clients to live joyfully and fulfilled. Through intentional planning, maybe there could be a way to accelerate living the purpose-driven way we were designed to. 


Instead of selling complexity, we could have simple financial conversations that were free of industry jargon. 


Instead of only reviewing portfolio performance at annual meetings, we could educate our clients and help them understand at a foundational level what we’re doing and why we’re doing it. Education is empowering and should inspire confidence in the future.


I believed (and still do!) that wealth management should be free from misaligned incentives that too often put advisor's interests ahead of their clients.


Instead of kickbacks and sharing revenue with fund companies and other financial institutions, I thought we should only earn compensation that comes directly from our clients. Doing so would limit conflicts of interest and provide the autonomy to seek the absolute best-in-class solutions.


Instead of implementing sales quotas, which inevitably leads to too many clients and lower service standards, we could take our time growing (countercultural, I know). We would spend as much time necessary to deliver positive client outcomes.


Instead of trying to fit everyone in the same box, we could build boxes around each and every client. It could be an opportunity to craft something truly bespoke that fits the unique preferences, needs, and personalities of individuals and families.


Instead of charging a percentage of someone’s portfolio, we could charge a flat fee that isn’t solely predicated on how much money they have (why should the cost of financial advice increase every time you contribute to your portfolio?).


I wasn't the first to think this way and thankfully I won’t be the last. There are outstanding advisors and other practices/firms cultivating change and elevating the standards of financial advice each and every day. 


Today, I'm fortunate to participate in fulfilling and collaborative relationships with clients across the country that I truly admire, trust, and enjoy.


Organically, Inspire Wealth Partners continues to grow and compound exclusively from clients referring their friends, who become my friends, and then refer their friends. While the practice continues to flourish appreciably in every quantifiable metric, what I'm most proud of over the past year is another year with exactly ZERO client turnover.


As the practice grows closer to capacity, I’ve flirted several times about starting a waitlist for new clients. However, technology has streamlined mundane and time-consuming administrative tasks, enabling additional room to run without compromising standards. I also feel like there’s much more to accomplish and many more people to impact.


As Inspire Wealth Partners enters its 6th year in business (my 11th as an advisor), I’m eager for another year to learn, deepen relationships, and serve.


In closing, I want to personally thank everyone that’s believed in me and Inspire Wealth Partners’ mission.


All the best,


Matt Cooley, CFP®

Founder | Inspire Wealth Partners

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