For Conrad Francis and Shane Mitchel of Inspired Money the fallout of COVID-19 has been business as usual. Shane even goes as far to say that this is an ideal period to be working with clients because they’re contactable and available to chat, always.
Inspired Money and their team of 12 work mostly with accumulative clients and retirees. Individuals who still have the 2008 GFC fresh in their memory. “They’ve been through this with the GFC and we’ve been having conversations about markets running hot. We’ve had 10, 11 good plus years in a row so something was coming, we just didn’t realise it would be so severe.” said Shane when asked how he’s clients were coping with the fallout of COVID-19. Based on this they’ve been working with their clients with the expectation that the market was due for a shock, and that investments shouldn’t be too outlandish in their risk.
They’ve also weathered the storm of working remotely seamlessly, as Conrad explains that their staff had been very much used to a working-from-home situation, and that they had been utilising digital workflows to service clients and communicate internally for quite some time. They had been utilising platforms like myprosperity’s wealth portal for cloud-based storage and digital document signing prior to the fallout of COVID-19, which made the transition home much easier for all of their staff.
The case study of Inspired Money is a great example of an advisory business that’s successfully navigating these challenging times. Not only have they been able to safeguard their clients’ wealth but they’ve been able to ensure their own business continuity, which in contrast to many Australian’s positions, is incredible.
You can watch the full episode below.