Inspire Advisors Case Study

Zumbusch Case Study

Meet the Team

Dave Zumbusch

CFP©

Beau Zumbusch

BFA™ - Behavioral Financial Advisor
Before Transition
Previous firm: 
Securities America
Locations:
Buffalo, MN
Book Size: 
$106.5 million
Post Transition
payout increase
net new money first year after transition
growth 12 months after transitioning
Q&A

What ultimately made your decision to leave Securities America and switch firms? Was there a challenging part of the decision that you had to overcome?

We had a great relationship with Securities America and genuinely connected with those at the firm, especially Dave being around since the early days. The hardest part was leaving a firm after being there 20+ years. But, the reason we left Securities America wasn’t because we were unhappy but because we were so excited about what Inspire had to offer. The missional alignment was the main reason for our transition; the pursuit of serving God in everything we do.

How did the conversations go with clients about the move? 

Overall, the conversations went pretty well! Most clients were genuinely excited about the transition, and that is the best part of the conversation. Others weren’t excited or mad about the transition but moved with us because we are their advisors and they trust working with us, no matter where we are. A tiny portion of the client base did not agree with the transition and ultimately left. We trust God is sovereign overall! It was a nice change of pace to share our beliefs and convictions with our clients and deepen our relationship with them.

What was one of the biggest struggles you had with the transition?

The biggest struggle we had was processing the volume of work that came in such a short amount of time. We knew it would be tough, but our convictions were tougher. Luckily the team at Inspire and the Custodian helped us prepare and process the paperwork. It did take a while to catch up on everything on the back burner while we were transitioning.

What was a surprising thing about the transition?

 The surprising thing with the transition was how quickly we could get up and running with the new system and softwares. Several items turned out differently than initially planned, but the learning curve of the folks with Inspire made them outstanding to work together.

What advice would you give an advisor looking to make the jump?

A few keys I would advise a potential advisor looking to join would be:
(1) Start prepping the paperwork right away so that the day you affiliate, you can send out the paperwork.
(2) Make sure there is a solid process to track the transfer of client accounts, client assets expected v. received, and accounts still waiting on the transfer.
(3) Focus on the highest priority items; a priority list will help you know what gets dealt with first due to the amount of work.

Looking back, would you have done anything differently?

We definitely would have done a better job tracking clients in transition. We thought we had a good tracker in place, but it turns out we didn’t because it did not have TD Ameritrade or contra account numbers, making it impossible to track accounts that had moved. This resulted in us having to carve out a few days to manually input account information to track each account. 

What does life look like now that you moved? Or, how has your life changed from making the switch? 

Amazing! The alignment of values and support we received from Inspire is outstanding. It feels like we are a part of a family that shares the same beliefs. We can all work together to glorify God through every aspect of our lives, work included.

How did you communicate the move to your clients? 

We are old-fashioned and primarily do everything by phone and in-person meetings. There is a drip process on email communication, but the bulk was by phone or in person.

How did you explain the move to your clients? 

We explained to our clients that we are transitioning to get access to more investment choices and invest in companies that are inspiring a positive impact in our world while excluding companies that are not operating in a God-honoring way.

Did you experience any pushback from clients about biblically responsible investing? 

Yes, we have had push back from a few clients because of our beliefs which are the ones that did not move with us. One household called us ‘Bible Thumpers.’ But as Matthew 5:10 says, “Blessed are those who are persecuted because of righteousness.” Others were just concerned that the accounts perform well and are achieving the desired results. 

How did you handle that pushback?

We explained the reason for our screening process and let the clients know that our job is to do what is right by them. We believe & research suggests that screening for BRI/ESG has the ability to produce equal or better returns while having your dollars promote goodness in our world. Investing in companies that are engaging in activities that are not God-honoring does not create increased value, and we believe our screening provides an advantage.

Go all in for God’s glory today

Inspire Advisors is inspiring transformation for God’s glory by empowering Christian financial advisors to deliver trusted financial guidance from a biblical perspective.
Let’s talk about what partnership would look
like for you and your business.
join Inspire advisors
National Admin Office: 3597 E Monarch Sky Ln, Suite 330 Meridian, ID 83646; Phone: (877) 859-6383 Investment advisory services offered through Inspire Advisors, LLC, a Registered Investment Advisor registered with the SEC.

© Copyright - Inspire Advisors, LLC