Business Description
We provide services to individuals, high-net-worth individuals, institutions and Registered Investment
Companies concerning mutual funds, fixed income securities, real estate funds, insurance products
including annuities, equities, ETFs (including ETFs in the gold and precious metal sectors), treasury
inflation protected/inflation linked bonds and non-U.S. securities. As a registered investment adviser,
we are held to the highest standard of client care - a fiduciary standard. As a fiduciary, we always put
our client's interests first and must fully disclose any potential conflict of interest. We do not hold
customer funds or securities.
Description of the Advisory Firm
Inspire Investing, LLC is a registered investment adviser primarily based in Meridian, Idaho. We are
organized as a limited liability company ("LLC") under the laws of the state of Delaware. We have been
providing investment advisory services since 2015. We are directly owned by Inspire Impact Group,
LLC. The principal owner of Inspire Impact Group, LLC is Robert Netzly.
Assets Under Management
As of December 31, 2023, we provide continuous management services for $2,562,233,803 in client
assets on a discretionary basis.
Types of Advisory Services
Adviser to Registered Investment Company
Inspire Investing, LLC (hereinafter "Inspire") is an investment adviser to their proprietary series of
Exchange Traded Funds ("ETFs"). Inspire's ETFs are passively managed, index based, biblically
responsible funds. Inspire is the advisor to the funds and provides investment advice, biblical
investment screening, portfolio management and marketing services to the funds. Inspire will
recommend one or more of these ETFs to its clients when Inspire deems it suitable and appropriate.
Since Inspire receives compensation for managing the ETFs, this presents a conflict of interest since
inspire has a financial incentive to recommend the ETFs to its clients based on such compensation
rather than the client's best interests. However, as a fiduciary, Inspire has an obligation to only
recommend investments that are appropriate for clients and to only act in the clients' best interest. For
a complete listing and details of all Inspire ETFs, please refer to
www.inspireETF.com. See the
Fees
and Compensation section (Item 5) below for additional information.
Biblically Responsible Investing
Inspire integrates Biblically Responsible Investing (BRI) standards in all of the advice it provides.
Inspire uses their proprietary Inspire Impact Score™ methodology to seek out investments in
companies that are aligned with biblical values and avoid investments in companies which profit from
or support practices at odds with biblical values. Inspire uses an affiliated screening technology called
Inspire Insight
(www.inspireinsight.com) to ensure that investments in which it puts client money are
consistent with the biblically responsible investing strategy described here.
Separately Managed Account (SMA)Services
Inspire offers ongoing Separately Managed Account services based on the individual goals, objectives,
time horizon, and risk tolerance of each client. Inspire ascertains risk tolerance and investment
objectives for each client, taking into consideration the client's current situation (income, tax levels,
savings, debt, etc.) and then recommends and manages a portfolio that matches each client's specific
situation. Separately Managed Account services include, but are not limited to, the following:
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•Biblically Responsible Investment
Screening
•Inspire Impact Score Analysis
•Asset Allocation •Asset Selection
•Risk Tolerance •Regular Portfolio Monitoring
Inspire evaluates the current investments of each client with respect to their risk tolerance levels and
time horizon. Inspire will request discretionary authority from clients in order to select securities and
execute transactions without permission from the client prior to each transaction. Risk tolerance levels
are documented with a Risk Tolerance Questionnaire, which is given to each client.
Inspire seeks to make investment recommendations in accordance with the fiduciary duties owed to its
accounts and without consideration of Inspire's economic, investment or other financial interests. To
meet its fiduciary obligations, Inspire attempts to avoid, among other things, investment or trading
practices that systematically advantage or disadvantage certain client portfolios, and accordingly,
Inspire's policy is to seek fair and equitable allocation of investment opportunities/transactions among
its clients to avoid favoring one client over another over time. It is Inspire's policy to allocate investment
opportunities and transactions it identifies as being appropriate and prudent among its clients on a fair
and equitable basis over time.
Portfolio Model Provider (PMP) Services
We offer Portfolio Model Provider services to unaffiliated registered investment advisers (RIA) and
turnkey asset management platforms (TAMP). As part of these services, we will provide model
portfolios, which the representatives of these advisers, or other advisors using these platforms,
may select for their clients. When providing PMP services, Inspire is not providing investment advice,
does not place trades or otherwise service individual client accounts and is not considered a fiduciary
on those client accounts. Inspire will not directly manage these individual client accounts. Those
unaffiliated representatives will be responsible for selecting the appropriate model for their clients. See
the
Fees and Compensation section (Item 5), the
Other Financial Industry Activities and Affiliations
section (Item 10) and the
Client Referrals and Other Compensation section (Item 14) below for
additional disclosures.
Sub-Advisory
Services to Registered Investment Advisers
We offer sub-advisory services to affiliated and unaffiliated third-party money managers (the "Primary
Investment Adviser"). As part of these services, we may provide model portfolios, which the Primary
Investment Adviser selects for their clients, or we may customize a portfolio for specific clients at the
direction of the Primary Investment Adviser. When providing Sub-Advisory services, Inspire is being
compensated for portfolio management and trading services and does not assist with account opening,
client service or other account servicing issues. The Primary Investment Adviser will be responsible for
selecting the appropriate model for its clients. See the Fees and Compensation section (Item 5) below
for additional information on this program.
Financial Planning
Financial plans and financial planning may include, but are not limited to: investment planning; life
insurance; tax concerns; retirement planning; college planning; and debt/credit planning.
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Services Limited to Specific Types of Investments
Inspire generally limits its investment advice to mutual funds, fixed income securities, real estate funds,
ADRs, insurance products including annuities, equities, ETFs (including ETFs in the gold and precious
metal sectors), treasury inflation protected/inflation linked bonds and non-U.S. securities. Inspire may
use other securities as well to help diversify a portfolio when applicable.
Client Tailored Services and Client Imposed Restrictions
Inspire offers tailored programs for each individual client. This will include an interview session to get to
know the client's specific needs and requirements as well as a plan that will be executed by Inspire on
behalf of the client. Inspire may use "model portfolios" together with a specific set of recommendations
for each client based on their personal restrictions, needs, and targets. Clients may impose restrictions
in investing in certain securities or types of securities in accordance with their values or beliefs.
However, if the restrictions prevent Inspire from properly servicing the client account, or if the
restrictions would require Inspire to deviate from its standard suite of services, Inspire reserves the
right to end the relationship.
Pension Consulting Services
We offer pension consulting services to employee benefit plans and their fiduciaries based upon the
needs of the plan and the services requested by the plan sponsor or named fiduciary. In general, these
services may include an existing plan review and analysis, plan-level advice regarding fund selection
and investment options, education services to plan participants, investment performance monitoring,
and/or ongoing consulting. These pension consulting services will generally be non-discretionary and
advisory in nature. The ultimate decision to act on behalf of the plan shall remain with the plan sponsor
or other named fiduciary.
We may also assist with participant enrollment meetings and provide investment-related educational
seminars to plan participants on such topics as:
•Diversification
•Asset allocation
•Risk tolerance
•Time horizon
Our educational seminars may include other investment-related topics specific to the particular plan.
We may also provide additional types of pension consulting services to plans on an individually
negotiated basis. All services, whether discussed above or customized for the plan based upon
requirements from the plan fiduciaries (which may include additional plan-level or participant-level
services) shall be detailed in a written agreement and be consistent with the parameters set forth in the
plan documents.
Either party to the pension consulting agreement may terminate the agreement upon written notice to
the other party in accordance with the terms of the agreement for services. The pension consulting
fees will be prorated for the quarter in which the termination notice is given and any unearned fees will
be refunded to the client.
IRA Rollover Recommendations
Effective December 20, 2021 (or such later date as the US Department of Labor ("DOL") Field
Assistance Bulletin 2018-02 ceases to be in effect), for purposes of complying with the DOL's
Prohibited Transaction Exemption 2020-02 ("PTE 2020-02") where applicable, we are providing the
following acknowledgment to you.
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When we provide investment advice to you regarding your retirement plan account or individual
retirement account, we are fiduciaries within the meaning of Title I of the Employee Retirement Income
Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement
accounts. The way we make money creates some conflicts with your interests, so we operate under a
special rule that requires us to act in your best interest and not put our interest ahead of yours. Under
this special rule's provisions, we must:
•Meet a professional standard of care when making investment recommendations (give prudent
advice);
•Never put our financial interests ahead of yours when making recommendations (give loyal
advice);
•Avoid misleading statements about conflicts of interest, fees, and investments;
•Follow policies and procedures designed to ensure that we give advice that is in your best
interest;
•Charge no more than is reasonable for our services; and
•Give you basic information about conflicts of interest.
We benefit financially from the rollover of your assets from a retirement account to an account that we
manage or provide investment advice, because the assets increase our assets under management
and, in turn, our advisory fees. In contrast, we receive less, or no, compensation if assets remain in the
current plan or are rolled over to another Company's plan in which you may participate.
Wrap Fee Programs
A wrap fee program is an investment program where the investor pays one stated fee that includes
management fees, transaction costs, fund expenses, and other administrative fees. Inspire does not
participate in any wrap fee programs.