True Blue Business interview with KRLD 1080 news anchor Scott Sams
Think back to second grade. Do you know who the mayor of your city was? The governor of your state? The President?
Many of us cannot readily recall who was in the White House when we were seven years old—but we can quickly name our second grade teacher.
Early in his career, Tyson King, co-founder and CEO of Inspire Financial Group, Inc. (a member of U.S. Retirement Partners, Inc.), realized the huge impact that teachers have on young lives. He also recognized how underserved educators are in areas of financial planning. His mother was a teacher, eager to help students fulfill their dreams. But with five children of her own—three in college—she and her husband faced mounting credit card debt and worried about retirement.
“As many struggling teachers can tell you, it’s hard to teach when you have to go home and figure out how to pay your bills,” Tyson said.
The young entrepreneur studied financial planning, began building a business, and used what he learned to help his family. He changed his parents’ lives so dramatically that it inspired his father, Charles, to join Tyson in launching the company (then called King & Associates). Later, Tyson’s sister, Tana Barker, came onboard as an advisor, and then his brother, Korbin, as Chief Operating Officer.
In 2005, the company changed its name to Inspire Financial Group, with the goal of inspiring as many people as possible to realize their dreams. The Richardson-based company now has 15 independent advisors and 11 support staff members, serving 3,585 clients throughout Dallas-Fort Worth and beyond—mostly public school employees, and most of them “clients for life.”
My battle cry about Inspire is not so much about the financial decisions or opportunities they’ve helped my family with, but it is about a family operated business that knows exactly what people need—specifically educators. You cannot go wrong when you deal with ‘real’ people that have lived your ‘real’ problems…” – Ross Roberts, principal, Allen ISD
The patriarch of the family and company co-founder, Charles King, earned a prestigious 2011 Five Star Wealth Manager Award, along with Tyson. Most recently, Inspire Financial Group was named a True Blue Business.
“We’re honored to receive True Blue recognition,” said 37-year-old Tyson. “Companies like ours don’t usually get this kind of stage to show what we’re doing for the little guy. And teachers may be among the little guys, but they’re a big deal.”
They’re such a big deal that Inspire’s advisors “roll up their sleeves and make good, old-fashioned house calls” —
traveling miles to homes and classrooms, sending monthly letters, and hosting seminars and webinars that teach clients how to save, protect and invest their assets.
“Teachers contribute to the Teacher’s Retirement System, not Social Security,” 40-year-old Korbin, COO, explained. “Most educators are not exactly sure how the Teachers Retirement System works. If teachers rely solely on their TRS pension, they may not have enough to reach their goals and dreams.”
Inspire developed the Dream Realization Plan (DRP)—a proprietary, customized roadmap that puts clients on a five-stage journey to financial freedom. The DRP has led thousands of Texas teachers to achieve more than they ever dreamed possible.
Korbin added that it’s important to educate students about money matters, too.
“If kids spend all day with teachers and never talk about money, we’re repeating a cycle of people not knowing how to manage their finances. That’s a pretty big missed opportunity,” he said. “Our longterm goal is to have a financial literacy program in every school district.”
As CEO, Tyson’s vision for the future is a big deal, too. His goal is to have 25,000 teachers following the DRP, in order to positively impact a million kids’ lives.
“Our clients include custodians, superintendents and teachers with a 100 kids—so on average, each client influences 40 students’ lives a year. In turn, we can affect a million young lives through those 25,000 teachers,” Tyson said.
That may seem like a lofty goal, but Inspire has the people and processes in place to make dreams a reality. They’ve
created a culture of brotherhood that extends beyond a family-run business—where service is the company’s lifeblood, and referrals are its advertising. Through teamwork, servant leadership, loyalty, accountability and integrity, Inspire Financial Group achieves its mission of changing the world.
Inspire Financial Group, Inc. is located at 3513 Spectrum Blvd., Suite 200, Richardson, TX, 75082.
972.470.0595 | 866.323.9151
To learn more about the True Blue Business Recognition Series, email information@TrueBlueBusiness.com.
Written by Dawn Redig, Blue Ribbon News, for publication in the True Blue Business special supplment to the Wall Street Journal, Q1 Edition, March 7, 2012; all rights reserved.