Welcome to the 9Innings Podcast where we Educate, Empower and Engage.

ON THIS WEEKS PODCAST: Kevin describes why he decided to open his own RIA, and what lead to his move. He also talks about what he discovered after the move was made, and talk some "Fact vs Fiction". Companies will often make you feel as if you cannot live without them, Kevin takes you on his journey and why that "may" not be true. Website: http://www.9icapitalgroup.com

In this episode of the 9inngs Podcast, host Kevin Thompson interviews Manish Katta from Potomac about transition to becoming a Registered Investment Advisor (RIA). They explore the pros and cons of moving from a broker-dealer to an RIA, emphasizing the importance of self-awareness in making this decision. Manish shares insights from his experience, noting that not all advisors want to be business owners; many prefer focusing solely on advising clients. They also discuss the financial implications, infrastructure needs, and emotional challenges of running an RIA, stressing the significance of understanding one's value proposition.

The Role of Arrogance (00:02:11)

Understanding RIA Benefits (00:06:05)

Cost of Ownership (00:09:27)

Payout Changes in the Industry (00:12:29)

Scaling Advisory Services (00:15:59)

Concerns in Going Independent (00:19:23)

Revenue Generation Focus (00:22:19)

Tech Integration Challenges (00:25:06)

Potomac's Growth Story (00:30:11)

Business Aspirations (00:34:26)

Social Media Caution (00:37:11)

Podcast Conclusion and Reflection (00:38:08)

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Website: http://www.9icapitalgroup.com

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In this podcast episode, Kevin Thompson, founder and CEO of 9i Capital Group, emphasizes the importance of a tax-savvy financial plan for business owners. He discusses how many owners miss out on tax benefits due to uncoordinated strategies. Kevin highlights key benefits of effective tax planning, such as minimizing tax liability, freeing up cash flow, preparing for unexpected expenses, and facilitating retirement.

He shares personal experiences and advises on choosing the right business structure, maximizing deductions, and managing cash flow. Kevin encourages proactive, year-round collaboration with financial advisors and tax professionals to optimize financial strategies.

Choosing the Right Business Entity (00:02:10) Explains how selecting the correct business structure can save money on taxes.

Unique Tax Challenges for Business Owners (00:03:29) Highlights the unique tax challenges business owners face, including estimated taxes and compliance issues.

What a Tax Savvy Financial Plan Can Do (00:04:49) Describes the benefits of a tax-savvy financial plan, including minimizing tax liability and freeing up cash flow.

Top Tax Challenges (00:05:34) Discusses common tax challenges such as choosing the right structure and maximizing deductions.

Cash Flow Management and Tax Payments (00:07:21) Emphasizes the importance of understanding tax liabilities and making proper quarterly payments.

Common Misconceptions (00:10:48) Debunks myths about when advisors and tax professionals should be involved in financial planning.

Actionable Tips for Business Owners (00:12:04) Provides practical advice for business owners on tax planning and working with professionals.

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Website: http://www.9icapitalgroup.com

In this episode, Kevin Thompson, CEO of 9i Capital Group, sits down with financial expert Andy Panko, CFP®, RICP®, EA, to unpack the concept of infinite banking. They dive into how whole life insurance policies can serve as a vehicle allowing policyholders to borrow against their cash value.

The conversation highlights:

• The mechanics and "myths" of infinite banking
• Key differences between whole life and universal life insurance
• Associated risks and misconceptions

Together, they stress the importance of understanding these products, seeking professional advice, and debunking the oversimplified “bank on yourself” narrative often used to market this strategy. This episode provides a clear-eyed perspective on the complexities and potential pitfalls of infinite banking.

Infinite Banking Overview (00:02:14) Discussion on the concept of infinite banking and the use of whole life insurance policies.

Understanding Borrowing Against Policies (00:05:51) Kevin questions the nature of borrowing against a policy and the role of the insurance company.

Misconceptions About Banking (00:07:41) Andy discusses the misleading concept of "banking on yourself" in relation to insurance policies.

Complexities of Policy Borrowing (00:09:07) Kevin highlights misconceptions about immediate access to cash values in life insurance policies.

Interest Rates and Policy Loans (00:10:45) Andy explains the implications of borrowing against a policy and the importance of repayment.

The Need for Education in Insurance (00:12:19) Discussion on the lack of education in the insurance industry regarding policy complexities.

Who Should Use Infinite Banking? (00:16:00) Andy outlines the ideal candidates for infinite banking strategies based on financial sophistication.

Comparing Banking Options (00:18:04) Kevin questions the rationale behind choosing life insurance over traditional banking for loans.

Timeframe for Infinite Banking Success (19:39) Andy mentions it may take 20-25 years for an individual to effectively build an infinite banking system.

Comparison with Traditional Banking (20:41) They highlight the differences between infinite banking and traditional bank borrowing, emphasizing the long-term nature of the former.

Whole Life vs. Universal Life Insurance (23:26) Andy explains the stability of whole life insurance compared to the variability of universal life insurance.

Misrepresentation of Insurance Products (25:05) Andy critiques how insurance products are often misrepresented, leading to misunderstanding and misuse by consumers.

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Website: http://www.9icapitalgroup.com

In this episode of the 9 Innings Podcast, Kevin Thompson, founder and CEO of 9i Capital Group, explores the potential impacts of Donald Trump's presidency on small businesses. He dives into key areas such as tax policies, deregulation, workforce dynamics, and trade tariffs. Kevin highlights the importance of staying informed about political changes, understanding tax cuts, deregulation, adapting to workforce shifts, and managing trade tariffs. He offers practical tips for small business owners to build financial resilience and leverage opportunities. Kevin encourages listeners to engage with his content and stay proactive in a changing economic landscape.

Tax Policies Overview (00:01:12)

Potential Tax Scenarios (00:02:33)

Deregulation and Its Effects (00:03:45)

Industry-Specific Deregulation Risks (00:06:13)

Trade Tariffs Impact (00:10:02)

Practical Tips for Small Business Owners (00:11:21)

Conclusion and Future Considerations (00:13:47)

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Website: http://www.9icapitalgroup.com

In this podcast episode, Kevin Thompson, founder and CEO of 9i Capital group LLC, digs into the bond market, focusing on "bond vigilantes," interest rates, and the housing market. He clarifies that while the Federal Reserve can influence short-term rates, it has limited control over long-term rates, which are driven by market dynamics. Kevin discusses the impact of higher interest rates on homeownership, noting the challenges potential homeowners face due to elevated mortgage rates and high home prices. The episode aims to educate listeners on these financial topics and provide insights into the broader economic environment.

The Bond Market Overview (00:01:08)

Federal Reserve vs. Long-Term Rates (00:02:25)

The Era of Low Long-Term Rates (00:03:21)

Legacy of Artificially Low Rates (00:04:40)

Current Housing Market Realities (00:06:45)

Key Takeaways (00:09:23)

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Website: http://www.9icapitalgroup.com

In this episode of the 9innings Podcast, host Kevin Thompson, founder and CEO of 9i Capital Group, discusses the fiduciary standard with guest Knute Rostad from the Fiduciary Institute. They explore the implications of a new administration potentially deprioritizing this standard, which mandates that financial advisors act in their clients' best interests. The conversation covers the importance of transparency, the evolution of the financial advisory landscape, and the challenges posed by different business models. Both speakers emphasize the need for ongoing education, ethical practices, and constructive dialogue within the financial advisory community to maintain trust and integrity.

Discussion on the New Administration (00:01:27)

Fiduciary Perspective Defined (00:02:25)

Understanding Client Conflicts (00:05:17)

Creating Factions in Financial Advice (00:09:04)

Historical Context of Fiduciary Standards (00:11:42)

The Current State of Financial Advice (00:12:38)

Critique of Fiduciary Marketing (00:15:29)

Higher Standards of Fiduciary Practice (00:19:50)

Importance of Disclosure in Financial Planning (00:20:40)

Broker-Dealer Challenges (00:22:45).

Limitations of Disclosure (00:23:26)

Misleading Standards (00:25:52)

The Role of the CFP Board (00:30:11)

Closing Remarks on the Fiduciary Standard (00:35:21)

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In this podcast episode, Kevin Thompson, founder and CEO of 9i Capital Group, digs into political identity, tribalism, and ideology ahead of an upcoming election. Drawing from "The Myth of Left and Right" by Hyrum Lewis and Verlan Lewis, Kevin challenges the notion that political affiliations are rooted in consistent beliefs, suggesting they may be more about tribal loyalty. He encourages listeners to critically examine their motivations for supporting political parties and to consider whether their beliefs are genuinely held or influenced by group identity. The episode aims to educate and engage the audience in thoughtful reflection on their political choices.

Tribalism vs. Ideology (00:03:44) Exploration of whether political beliefs stem from ideology or tribal loyalty, using sports fandom as an analogy.

Changing Political Stances (00:06:18) Kevin highlights how political identities can shift based on group affiliation rather than consistent beliefs.

Social vs. Essentialist Mindset (00:08:59) Introduction of two mindsets: social (tribal loyalty) and essentialist (principled beliefs), and their impact on political choices.

Historical Shifts in Political Loyalty (00:11:37) Discussion on how political loyalties and ideologies have changed over time, referencing historical figures and events.

Implications for Upcoming Elections (00:13:50) Kevin emphasizes the importance of understanding tribal dynamics in the context of the upcoming election.

Reflection on Political Identity (00:16:18) Encouragement for listeners to critically examine their motivations for political support and the nature of their beliefs.

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