The Silicon Review
At Inspire Wealth, our team provides a non-traditional approach to achieve a tailored financial blueprint for each family. Going beyond just investment management by utilizing our advanced planning methods, we are able to maximize the multi-generational wealth transfer through tax-optimized strategies based on each family’s goals. Whether your tax concerns are capital gains, income taxes, or estate taxes, we can utilize tax strategies that reduce taxes with customized tax-transition plans over multiple years. With a high regard to our fiduciary responsibilities, we strive to always put our client’s best interest first with our comprehensive approach. Our focus is not solely on investing. Relationship management and advanced planning have been the true key to our client’s success. We all know change is inevitable, life is fluid, ever-changing and your financial plan must be able to adapt to it. “I’m not just a suit managing their money, I care deeply about them and their families, and this is what drives me every single day.” Says Nick Bour, CLTC®, NSSA®, Founder & CEO of Inspire Wealth
Nick has been in the financial services industry for over twenty years. His passion for the industry was weighted primarily in the ability to work directly with families and businesses in a way that would truly impact their lives and the generations that follow them. After working across several major companies throughout his career, Nick decided to build his own firm to fully realize his vision for a business model that would arm clients with the knowledge and tools to plan for their tomorrow. Nick takes an educational approach to financial planning. He aims to lead his clients down the right path while providing a complete picture of the road ahead. Part of Nick’s comprehensive process involves his team members and the unique skills they offer to best serve the clients of Inspire Wealth. In addition to providing clear action steps, Nick encourages his clients to use their wealth as a tool to create memories along with a legacy for their loved ones now and create lasting memories before leaving them behind for future generations to inherit.
When it comes to making memories and family values, Nick likes to practice what he preaches. He and Jen, his wife of seventeen years, enjoy spending time at their family cottage on Long Lake with their two children, Toby and Olivia. They enjoy all sorts of quality time, from off-roading on the trails to relaxing sunsets. For Nick, helping his clients achieve the comfort and confidence to enjoy their wealth with their family, as he does, is his life’s greatest passion.
Q. How do you feel Inspire Wealth differs from other financial firms?
I created Inspire Wealth because, after almost two decades in the industry, I found there was a huge lack of maintaining relationships and service with clients and true Financial Planning firms that can deliver on all areas of potential issues or concerns for upper-middle white-collar families. We classify these around 1-10 million in investable assets at Inspire Wealth. I felt that there was a ton of firms that had areas of strength, including Financial Planning, Investment Management including Tactical strategies, comprehensive Tax & Estate Planning, high-level Risk Management, Retirement Income Planning, Retirement Plans, Executive Benefit Planning, Key Employee retention plans, and Business Exit Planning; however, there was very few that could be a visionary and a strong resource for all those areas listed. I have spent several years researching and breaking through the red tape to determine what areas of strength and expertise my team and back-office had to ensure we could truly be a firm that set’s itself apart and can be an excellent resource in all of these aspects.
Q. Why do you feel it’s so important to have all members of a client’s Financial Team on the same page?
I think about this partly in the big picture and partly in common sense. I’m going to use the example of a Business Owner named John and that he has a net worth of 15 million and 5 million of that is the value of John’s business. Suppose John is trying to exit his business and sell it to an outside buyer or a key employee and John’s CPA, Business Attorney, Financial Planner, and Risk Management person are not on the same page when it comes to taxes, structure, and the best concepts or options for John how is it possible for John to have the best strategy for him. If we look at just the complex tax structure, there are several considerations John should be thinking about and looking at. I tell clients all the time how important it is for the advisory team on the same team and to be strategically discussing all scenarios for John, and if they are not doing that which most are not, it is almost impossible to make sure that John is looking at the best options.