Episode Transcription 

This is the Ultimate Advisor Podcast, the podcast for financial advisors who want to create a thriving, successful, and scalable practice. Each week we’ll uncover the ways that you can improve your referrals your team, your marketing, and your business operations, helping you to level up your advising practice, bring in more assets and create the advising practice that you’ve dreamed up, you’ll be joined by your hosts Bryan Sweet, who is moving fast towards a billion dollars in assets under management, Brittany Anderson, the driving force for advisors looking to hire improve their operations and company culture, and Draye Redfern who can help you systematize and automate your practices marketing to effortlessly attract new clients. So what do you say? Let’s jump into another amazing episode of the Ultimate Advisor Podcast.

Hello and welcome back to your ultimate advisor Podcast. Today I have with me two extra special guests. They are going to be speaking together in a conversation with me but they deserve their own separate intros. So I have with me today Jason Lowe and Richard Canfield. We’re going to start with Jason. Jason is the chairman of the low family group of companies and renowned speaker on leadership entrepreneurship and the process of becoming your own banker, the Infinite Banking concept, originally from a small mining and forestry town to building a group of privately held companies generating millions in annual revenues. Jason is a true Canadian success story. Jason has been featured on numerous podcasts and radio networks across North America, sharing his inspiring entrepreneurial journey and proven leadership insights. He is a published author sought after coach and engaging speaker appearing on countless stages. When he’s not building the low Family Group of Companies. Jason spends quality time with his family and his dear friends. Now I have Richard Canfield. So Richard is passionate about wealth building. Even at an early age, Richard was known as the bank as he always had cash on hand and would lend it to family members from time to time. He worked tirelessly afternoons and evenings for the family business while maintaining honor grades in high school. As time progressed, he actually became part owner with his family of the first rental property in Camrose, Alberta. Without proper coaching they experienced most of the tenant stories you hear about over the next six years. Yet despite those challenges, he forged ahead buying his second rental property at just 18 years old. Soon thereafter, he entered the electrical trade established a reputation as someone to be counted on. After his 22nd birthday, he became a journeyman electrician and began leading his own crews. So he noticed that it was time to get into business again. So he began building his skills through practical education and real estate investing, having handled the financing and cashflow of multiple properties and his family’s portfolio, in addition to his ventures, all while working full time as an electrician. He fast forward to the spring of 2009 when his friend and now business partner, Jason Lowe, who we just introduced, suggested he read our Nelson Nash Nash’s best selling book, becoming your own banker. As a proven entrepreneur and a recognized authority on the infinite banking concept in Canada, Richard is filled with desire to significantly impact many people’s lives. He’s an authorized Infinite Banking practitioner by the Nelson Nash Institute. Richard distinguished himself as one of our national sins star students. So you are going to be dished up with some great information today, like I said, from both Richard and Jason, let’s get into the interview.

Welcome, Jason. And Richard, I am so darn excited to have you guys with me here today. Long time no talk long time I’ll talk. So I gotta tell our audience that you don’t know this, but we just got done recording. I was just on Jason and Richard’s podcast here literally just like minutes ago. And let me tell you, I’m going to have you guys plug it actually because you’re going to be better at it than me. But why don’t you guys just tell everybody what your podcast is where they can find you. Because you guys put on such a great show. That was so fun. It was. I mean, I could talk to you guys for hours.

Go ahead, Rich. Well, our podcast is wealth without bass. Read, it’s available on all the major podcast platforms, we generally have people go to the YouTube channel wealth database re.com, forward slash YouTube. And that way they can actually see Jason and I karate chopping things as we talk. And every once in a while we, we talk like we’re chopping a salad with our hands. So it’s a little bit more entertaining, if people appreciate that sort of thing. And we like to have a lot of fun, we have amazing conversations with people like yourself, entrepreneurs who are making vast swathes in life, they’re making change, they’re their engines of change, they’re making an impact in the world, we talk to a lot of our clients. And then we also talk a lot about, of course, the the primary concept that we take out into the marketplace that we learned from our mentor, our Nelson Nash, and we have a ton of fun just doing it. So normally,
normally, I end with that stuff, but I just thought it was so good. And you guys truly are doing something of such value. So I had to have you plug that right away, because it’s just great content. So all that being said, I would love for you to share a little bit about your background. So why don’t we you know, Richard, since you just talked about the podcast. Jason, let’s start with you. You know, where did you start? What got you to this point? And what’s really motivated you to keep going? Oh, wow, that’s a really good question. I was born and raised in a small town in Timmins, Ontario, we were just talking about Shanaya. Twain, and her real name is Eileen, and she was born and raised in that community as well. And, you know, growing up, my parents really struggled financially, I was raised during that period of the early 1980s. When inflation skyrocketed, interest rates peaked at 21 and a half percent. And almost overnight, my parents found themselves in a position where they were on the cusp of losing everything financially. And that drove a big wedge in their marriage. And they argued all the time, about money. And that was a really, really painful experience to go through as a toddler. And I remember thinking, you know, at that period of time in my life, that I don’t ever want to be that I don’t ever want to, to experience this, when I’m, you know, a family man and raising children, and what the biggest stimulant for me is being of service to others, because that’s where I find I just received the most energy. And that’s where I find I’m most fascinated, is just engaging in conversation, engaging in dialogue with people who want to build a future that’s bigger than their past. They need some coaching, they need some mentoring and support. And that’s what stimulates me. And there’s so many more life experiences in between being a toddler to where I am today, as a very proud husband, I love my wife, Rebecca, more than I can ever articulate to anyone. And she is just so supportive. And she’s involved in our family group of companies, and very, very supported in what she does. And we have four beautiful children. And I love being a dad. And there’s so many life experiences in between being a toddler and at this stage in my life. And I’m the sum part of everyone who’s mentored me. And so there are so many people that I give credit to, and that I express gratitude for, who have really helped shape the person that I’m still becoming, because I’m never going to arrive in terms of my potential, I’m going to continue to work on it. And it’s just been an incredible journey so far. And so being in service to others is really my biggest stimulant.

You know, I think there’s so much power and what you just shared and if you think about me, made the comment, you know, you as a toddler, you now there’s so much that’s happened in between and shaped you and and you have those, you know, maybe moments of reflection and, and then excitement in the future from what you’ve learned and taken away from that past. And I think that all of our listeners will be able to relate to that so much because we all have our stories, and we all have our narratives. So I appreciate you sharing what you what you shared. So Richard, I want you to take the floor. Now share a little bit about you and what got you to this point.
You know, not unlike Jason’s experience, you know, my experience is somewhat similar. You know, I grew up in a family business, we have a small town there was you know, we’d say there’s 300 people in the community plus one in the oven. And so, you know, we lived in a farming community and everything and growing up, I worked I worked really hard on you know, maintaining, you know, parts of the farm that we had and also working in the family business and we had a portable toilet service business as well as a subject job so I would actually drive the honey wagon to school, some days and so, you know, I learned I learned a lot about working hard and getting your hands dirty, quite literally. And you know, that experience shaped and formed a lot of things including some attitude. And I didn’t really have a great attitude. Because of it, it really caused me to be a bit jaded about certain things in life, because I thought, you know, this, this is what my life is gonna look like, it’s probably not the best, you know. So one of the best things that happened was actually leaving that environment and going into the, you know, the regular real world. And I end up getting an electrical trade, become a journeyman electrician. And you know, it did really well with that. But in the process of doing it, I realized that this is not the right fit. For me, this is not a way that I can actually help people in the world, helping people get their lights installed or turned on or, you know, getting oil out of the ground wasn’t something that really spoke to me is how I could add value into the world. And I recognized that I wasn’t in the right industry. You know, there was a point where I was doing little job sites, seminars, basically in Job trailers on on the site in Fort McMurray, where, you know, the oil capital of Alberta. And I thought, yeah, you know, probably this is, this is maybe more what I should be doing. And, you know, so I forged ahead and got more deeper into the real estate investment area and got my real estate license. And I did that for a number of years. And really was shortly after that, where that led me to meet Jason, it was a mutual contact that had put us together. And Jason and I connected and we kind of instantly created a great friendship and a bond and, and we forged ahead into some business activity at that point in time. And in that, and shortly after that, it led us to, you know, this, this experience. And one day, I remember going into Jason’s office, and this was in 2009. And Jason picked up a copy of this book, and the book is called becoming your own banker. And he said, Okay, rich, you need to order this book, here’s the website, go ahead and call me back when you’ve done reading it. So took a while for it to book to get to me and I was a bit of a slow reader and I had a really busy season. And I was also just really angry when I read the book, like, you know, when you get like a kind of a chip on your shoulder about something, and you can’t really figure out what it was. So as I was getting a little snippy with people who would talk to me, and I’m like, I was just, I was just really frustrated, because I knew once I read that book, that not only that I need to begin implementing the content in my own life. But I was just angry that no one had told me. And because I’d spent a bunch of money on my personal and financial development up to that point, you know, in the 10 years prior, and I would I had traveled different places in North America and seeing real estate gurus and coaches and this and that. And the other thing, and not a single one of those people had told me the information and 92 pages that I learned for $40 Canadian, I was like $2, American, I think at the time, and and so, you know, I felt a little bit like I’d been gypped, you know, because I thought someone should have should have brought this to my attention beforehand. And then the other piece of it was the recognition, I couldn’t be in good conscience, I couldn’t, I wouldn’t be able to carry on my life, knowing what I know, and not being able to share it with others. And so that meant another change in my life, I needed to go and now forge into a new industry, I needed to get into the insurance realm, and, you know, and so on, and so forth. So there was a lot of things coming up for me there. And it’s kind of like, I always referenced that too, when you go for dinner, and you have a really amazing meal, and the service was great, and everything was fantastic. You usually tell people about that. You don’t you don’t hide that restaurant, and then never share it with anyone I mean, that restaurant will go out of business. So you have to share that information with other people so they can receive the same value that you received. And that’s how I feel about about this book and the concept. And so I’m eternally grateful for Jason, for you know, our, our, our blessing of being able to be connected with one another and then what that’s developed into, in him sharing this this book with me and the knowledge and, and all the wonderful things that we’ve done since really have stemmed from that the content in that book and in the man who wrote it, and it’s really formulated, I think, the what connects us together, there’s many things but it’s a it’s a, it’s like a core piece that links us through time and experience and what we’re able to share with the world
hmm, you know, I think that’s so beautiful. And, you know, there’s these moments, moments of impact, let’s call them where you know, something hits you in your life and you’re like, man, it either wakes you up to something new, wakes you up to shut something down, or open some massive door of possibility. So one of the things that I have admired so much about the two of you and we met through some entrepreneurial circles that we run in, you know, there’s you know, Dan Sullivan of Strategic Coach, there’s Joe Polish and Genius Network. You know, Justin Breen is I think, who actually introduced us, He’s awesome, amazing entrepreneur, focused on PR. So there’s so many cool connections and different things that happen when you’re in an entrepreneurial world. So, this is going to back me into a little bit more of a technical question in a moment. But I would love to know when you guys think about true connection, true collaboration. What does that mean to you?

Oh, boy. Thank you for asking that. true true collaboration to me means that you’re not starting on a level playing field. You’ve got one group or one person that has a set of unique capabilities. And you combine that with another group or person that has a unique set set of capabilities. You you lift each other’s, whatever that is, you’re you’re you lift each other’s revenues, you lift each other’s profits, you lift each other’s achievements. And it costs neither party to that collaboration, anything more to do it. And true connection comes from a place of giving first, you know, we talk a lot about this in our interactions with people, where we focus on making deposits into a relationship before ever requesting a withdrawal. And if you are approaching that, in a very sincere way, you end up with more than you’ll ever need. People want to you’re attracting collaboration. And Dan Sullivan said something to me in October of 2018, I will never forget this, it is etched in granite. He said, Jason, when you begin to think collaboratively versus thinking competitively, collaboration, opportunities will begin to appear everywhere. And that was a domino that got tipped over, that has completely changed everything. And the people like yourself, amazing, amazing, people who have big hearts are authentic, who want to be of service to others, we get to meet one another. And we get to lift each other up. And so collaboration to me always begins with look, it doesn’t have to be a level playing field that that’s a that’s a very huge misconception, I think are misunderstanding about collaboration. And the more we do it, the more we receive, it’s so simple, but it has to come from a place of authenticity. People, people are very sophisticated in the ways that human nature, they can tell if someone is not being authentic or genuine, or, you know, really, truly wanting to collaborate for kind of putting, hey, how does this benefit? Both of us, but how does it benefit you more to begin with? Because I think if I’m in service to you, then I’m going to grow as a result, as well. And so that’s what it means to me personally.

Well, before I comment on that, Richard, is there anything that you would add to what Jason just so eloquently said?
Well, I think I would just add, one of the things that I connect with with collaboration is that it’s it’s almost the antithesis of competitiveness to a degree, and it doesn’t mean that you you can’t be competitive in the world market, it just means that you, you rise above so much of that, because of the collaboration opportunities. And I even think about just in the financial industry specifically, I think that in a traditional format, it’s been more of a Doggy Dog kind of a situation. And I’ve never experienced that I think part of it’s because what we do is fairly non traditional, but there’s so much more that we can do together and how we can impact people. And you know, it’s a very big wide ocean out there. And there’s so many people that require the need of what good financial professionals provide that it again, it’s it’s pretty rare that you’re stepping on someone’s toes, it’s it’s all a matter of how many more people can we serve, because there’s many who need to be served. So if we raise each other up, if we raise each other up in such a way, then everybody gets lifted in that process, including the people that we all serve, and if we can serve more of them. And we can do it by being better at what we do and be better as, as leaders and inspiration for others. It just, it just raises everyone up to a point of higher capacity. And higher capacity leads to more collaboration. And then you get this nice little loop of, you know, it’s kind of like the recycle arrows just going around and around. But it’s you know, it’s a big global Profit System working for everyone’s benefit instead.

So you’ve both, I think, touched on such brilliant comments. And the one thing that I keep thinking about so Joe polishes Genius Network at their headquarters, there’s actually a big sign or picture on the wall, and it says, Life gives to the givers and takes from the takers. Amen to that. Yeah, it’s so true. And it keeps on showing up. So, you know, there’s one thing that I think about and we talk about this, and we’ve talked about this on on both of our podcasts, but I think about our advisor community in particular. You know, if you think about it, if you’re showing up with a potential collaborator, and I love Jason, what you said about how you both have these skill sets that you’re bringing to the table and his value you’re bringing to the table that calm plummets each other. And it’s not any more work for either one of you, and you’re showing up as your best self and all that good stuff. But if you’re showing up with the expectation in the back of your mind that wonder what I’m gonna get out of this wonder what’s going to come to fruition every single time it falls flat on his face, because like you both said, you know, that can be felt that can be seen. I mean, I think about times, and I’m super fortunate. Now, I know you guys are too with with the types of entrepreneurial circles that you’re in. It’s not common, you run into somebody that is a taker by nature. But when you do, it sticks out like a sore, stinking thumb. Oh, obvious, so obvious. You know, and I think about Richard, something you said is you were talking about, like, you know, going into it with the mindset of who can I help next, who can I serve. So we’ve actually both with our advisors at Sweet financial, and advisors that we coach, we’ve told them, like, throw away your sales list, you know, throw away your prospect list, because all that’s doing is it’s what’s in it for you make a list of the people that you know, in your life that you can truly help and add value to, that’s a different mindset. Right, so you’re gonna go into it with an attitude of serving and an attitude of giving, versus I’m gonna close my next deal or, you know, increase compensation or whatever that looks like. So that’s something that I think is so important in our industry in particular,
I agree with you completely. And if you if you think of, it really boils down to and again, credit to the amazing Dan Sullivan, mentioning his name probably no less than two dozen times today. And understandably, so the impact that he’s had on me professionally and personally. And, you know, you don’t, if you approach things like you said, with that attitude of, hey, what’s in it for me before what’s in it for you, then that’s going to translate into your prospecting or whatever the buzzword is, that’s been in the industry for 400 years, it really be clear about the optimum mindsets of the people that you most love to serve. What optimum mindsets do they need to possess in order for you to be a good fit to serve them. And what you’re really looking for is yourself. That’s what you’re that’s, that’s the WHO that you’re really looking for, is if you if you were to scroll through all of those optimum mindsets, you know, just to give examples of what I mean by that. An individual who possesses strong strong family values and good morals, a person who is respectful, responsible, and kind, a person who makes decisions based on fact and not opinion, a person who is coachable, a person who is not only decisive, but an action taker, those are all the optimum mindsets of people that I most love to serve. So if you don’t possess those optimum mindsets, it doesn’t mean that you’re a bad person, or, or otherwise, it just means that we cannot establish a basis to work together. And that’s what I would encourage the advisor community to be thinking as we do, we talk to advisors all the time, and we try to give them our good guidance and counsel on what we think will help them to achieve and build a future that’s bigger than their past. But it’s you and I know and Richard, yourself included. There’s such a scarcity mindset among this particular profession. It’s quite remarkable actually. And the one thing that I’ll just express, and I hope that it’s valuable to your audience, Brittany, is that you don’t have to own the ocean to sail on it. You just don’t, there’s so much opportunity. And if you show up in your unique ability, if you show up in the way that fascinates you, and energy energizes you and you show up in a way where you’re being truly authentic, then you’re in a competition free zone. Because you can never become the best version of someone else. You can only realize your own potential. And so if you if you pursue that, your thinking changes, the way you behave changes, you begin to focus because envy is a very poisonous, very poisonous, it can really drags you down. So if you’ve used someone else’s game as your loss, you’ve missed the point entirely of this journey called life in this journey called pursuing your ambition. You should view someone else’s gain as their game. Go and pursue your own you didn’t lose anything. You’re just you’re just wasting mindspace thinking about that. When you could be pursuing your ambitions and being of service to others.

There’s another great thing that happens with everything that Jays and just said is that by demonstrated, first of all by telling people, the optimum mindsets, and then by just demonstrating how you show up with people by having that altruistic, servant driven serve first mindset, your phone’s gonna ring, a lion. And you won’t need that list that used to carry around anyway, because you’re gonna have your assistant just writing your names on the list because they keep calling it. Yeah. And it’s so so you just be, you know, recognize that your power to serve as is exemplary, it’s high. And the more that you give into that, and you and you show up that way, people will tell others that that happened, they will, they will, they will shout from the mountaintops, what you’ve been able to do, how much you care how much you show up, what you know. And that, and I don’t get that don’t just don’t mean just being nice to people, when you’re in your meetings with them. I mean, telling them truly what what’s going on. And don’t be afraid to shoot, you know, you don’t have to sugarcoat things, some people just need to say like, this is what I see, this is what’s happening. Sorry to be the bearer of bad news, here’s where you need to make an adjustment and correction. And the fact that you’re willing to stand in and tell them that directly might be the thing that pushes them over the edge to actually get successful, you know. So being being servant driven, isn’t, you know, it doesn’t always necessarily mean that you’re being nice, you can also do that, we encourage that. But you’re you’re looking out for people’s best interest to the best of your ability, and you’re not hiding that you’re not, you’re not shrinking backward, because you want to hurt somebody’s feelings, you’re going to tell them what’s up, and you’re going to do it because you care, because you believe that they need to know and it’s what’s going to help them make it to the next step.
You know, I, there’s so much to unpack and what both of you just said and, and one thing I want to point out here is that, I think if you’re listening to this, and you know, you’re running your own business, and you’re, you’re in growth mode, and you’re bringing people on and you’re trying to attract, you know, your ideal clientele. You know, I’ll tell you right now, if we’re the advisors listening, we have a full application process for our mastermind for our coaching group. And I can tell you candidly here that I recently was on a call with a gentleman, and great advisor, great person, he’s a great human. But there was one thing that was not in alignment with our mindset. And it had to do with the whole concept of collaboration versus competition. And he made the comment that he wanted a roster of any advisor near him, because he wouldn’t be comfortable sharing ideas in front of those people. And that, for me was a deal breaker, like this was like a five figure pretty simple to navigate kind of type of contract. And I’ve simply told him, this isn’t the right group for you, like this, this just isn’t gonna work, you’re not going to be happy, we’re not going to be happy. So I think that’s such a great thing for people to embody and embrace when you’re thinking about taking clients on and whether you’re listening to this, and you’re, you know, just starting out, or you’ve been in the game for how many years, you don’t have to take on just anybody. And I would bet that our listeners, and I’m sure you guys can attest to this, too. But anytime you break your own rule, or you make an exception on one of those mindsets, it’s a stinking disaster. It never ends well. It never ends long, it’s painful.
Brittany, if we were to and my hope is, again, that this serves as useful for advisors who are tuning in and listening, if you if you really want to master mind, and you want to develop a master mind, if you walk into a group, and you’ve got one great idea in your gene pocket, and you pull that one great idea, and you put it on the table, and someone else pulls out one great idea from their gene pocket. How many great ideas did you both leave with?
So many.

And so if you’ve, if you’re of the mindset that, hey, I’m gonna build a moat, I’m going to construct a moat around all my great ideas. And I’m going to geo target anyone who’s outside of my 50 mile radius, so they don’t hear or learn about my ideas. Oh, my God, are you shortchanging yourself? Not only can your idea be expanded, with other great people in the room, who can say wow, that’s, that’s really great. Here’s some things that make it even greater. And then you leave that mastermind just with that. And you’ve amplified an already great idea into something even greater and you inspired someone else in the group to share and now you and you pick up on something you both leave with two great ideas. That’s really truly what building a master mind is all about. And so kudos to you for having the courage to say this isn’t going to work for you. And it’s certainly not going to work for us. And wishing that person well. And I’ll tell you, having been much like yourself, Britney and Richard having been having had the privilege to contribute, in a mastermind setting, I leave with far more, far more than I contributed. And so I’m always saying to myself, when I leave the group, I’m going, Okay, I got to do even better next time, I got to bring even more contribution to the group. And I’m very intentional about that. And gosh, if so, when somebody implements an idea that that they’ve taken to make it their own, and make it do what they want it to do, and you come back to the group, and they go, You know what, that idea not only worked, but it has, whatever the output was, I’ve gotten 58 more clients as a result, and my income has tripled, and I’m getting I’m giving more to my community, and I’m sharing more with my teammates, and, wow, good, that genuinely, honestly makes me feel fulfilled. And so it all begins with the way that you think, and this person that you were speaking with, just has to develop the ability to rethink their thinking. And when they do, it will be even better. We even have
so good.

We even have an example of that, you know, you know, we actually interviewed a gentleman recently, our podcasts good friend of ours, and he’s based out of Lawrence, Kansas. And you know, at a at a mastermind event Jason had indicated and talked about, one of the things that we used to do, which was a was a basically an all day, it’s basically an eight hour program. It originally began as a as a Friday evening and an all day Saturday. And then we condensed it down. And we called it a boot camp event is a financial boot camp specifically to talk about the concept of becoming your own banker and teach people how to implement that in their life. Because it’s, it’s something that is often challenging, preconceived ideas in our head that we have to kind of, you know, reengage the brains thinking process quite a bit. And you know, that that idea, this no other organization, in fact, a few other organizations ran with it. And it’s like, boom, it just totally changed their whole business. And he’s like, yeah, that really shifted the changes. For now we started doing this now, the way that they’re doing them is different. And they did some specific principles, they have a different time, and they have engaged their client base differently about it. But the concept, so again, it’s they’re not even the same thing that’s happening, but the initial concept of it was that spark that helped create, you know, a big impact. And because of that impact, we’re not serving those people. I don’t care, those people are being served. And they’re experiencing a new level of joy and financial peace in their, in their mind in their in their life, because of it. And that wouldn’t have happened maybe to the same degree, if it wasn’t for sharing that first not. And not everybody agreed with that sharing. You know, there were there were teammates, who are no longer teammates, who didn’t agree with that sharing. And it’s like, well, gosh, they might take this and actually do something great with it. And it’s like, oh, boy, should we go by hardhats because the sky is falling? Like, no way, they’re gonna take something great and make it greater.

Wow. Then they’ll come back and report to us and tell us what they did. So we’ll have a new idea.

Like, come on. No way. Like. So, again, you know, it’s just that that train of thought that way of showing up? It really isn’t for everyone, otherwise everyone would be doing it. But yeah, gosh, does it ever feel good when you can really have a positive impact and, and it creates a ripple effect. And people who are givers in nature, they’ll always come back and say, hey, what can we do to return the favor? And I had a fellow who just reached out to me recently, you said, Hey, this master mind, this lifestyle investor, mastermind group, Justin, Donald’s group, Justin’s mazing, guy. And so I, I signed on to that group, someone referred me to the group and said, Hey, I think you’d be a great contributor to the group. And he ended up getting a re upped for a new year, and he ended up getting a significant discount off of that mastermind membership. And he was working, I send the check. And I said, Well, if there’s an organization in need in your community, make the check payable to them. And so he wrote me back and said, You have no idea the impact you just had there. There’s a lady who had to leave a domestic situation and had nothing she had her children and the clothes on her back. We got to replace we got her appliances. We got her pantry stocked to give her a new fresh start in life. So I could have taken that money and put it in my pocket all day long. And all I did was suggest that he do something to bless someone else’s life in a positive Way, and just imagine the impact that that is having on that family. And you heard me say earlier my experience growing up and you know, my parents arguing and fighting and eventually divorcing and so when he shared that with me, that was a moment of serendipity. It was like, wow, okay, thanks, good. We’re doing something right here. Let’s keep going. Isn’t that good?
It’s not just good. It’s amazing. And, you know, I just, those types of stories are the things that you will never forget. And here’s the thing, if he would have paid you, you would have forgotten about that check at some point, right? Like, it just becomes part of the job part of the day to day part of the, the chase, whatever, however you want to put it, that impact in that just tiny little decision to like you said, bless somebody else, oh, my goodness, like, that is just incredible.
I still get goosebumps, I got goosebumps right now, because I feel good.

Seriously, on the receiving end, too, of listening to that. I mean, that’s such a beautiful story. So I think it ties in really well with the idea of value alignment. And we talk about this a lot, because I personally, am a huge believer that nothing can be achieved to the exponential opportunity, if you don’t identify, and then actually live in congruence to your value system. So I would love for each of you to share, you know, how do you define value alignment? What does that mean to you, and maybe share a couple of your own personal values?
Go ahead rich? Well, I mean, value alignment, I think, I don’t know how I would really define it other than I think you just kind of catch it as a feeling. You know, it’s, it’s something that you come through conversation. And as conversations develop, you get to determine if you were, if you are right or not, you know, and then I think you see it in people’s actions primarily. So you can see actions happen over time, or you can talk to people who have experienced someone’s actions as well. And you can kind of get a pretty good read on things. I, for me, integrity is a big thing. And it’s, it’s, it’s, it’s not just doing what you say you’re going to do. It’s, it’s, it’s showing up when you make commitments, and, you know, I’m the kind of person where I’m not always on time. Now, I like to be on time. But the reality is, it’s not something I do very well. But if there’s a big thing going on, I’m going to show up, right, and so I really put a good value on that, and just being someone who stands by their word, and also, you know, you the concept of helping others and being someone who wants to be of service and you know, there’s a, there’s a flat tire on the road, you might not have the time to stop by and get that flat tire. But you know, that same day, you’re gonna go and buy the Tim Hortons or the you know, the Starbucks coffee for the person in the lineup behind you, you know, you know, these are the kinds of things that I grew up in, in a small community where you would, you would, you would stop and help people wherever possible. And I feel like that’s the kind of people I try to attract into my life. And I’m always doing what I can to check in to see if that’s if that’s, if I’m getting the reader the similarity there. I think for the most part, most people that we bumped into are really good, amazing people. It’s just a matter of what’s going on in their life that maybe is, you know, sometimes we’re getting a skewed view of what’s happening because of something that’s present in their life at that point. But if you give it a little bit of time, and you check in a little bit, I mean, generally speaking, most people are pretty fantastic.

You know, Jason, before you comment, I have to push on something. And this is kind of funny, because you talked about how you’re not always on time, I prefer to call it being a time optimist. I always think I have way more time than I do. Like, I could cram so much into this hour, and then all of a sudden, I’m like, Oh my gosh.
So I get it. I would, I would say as it relates to values. Something that’s so, so important. For me when I when I was blessed to be a dad for the first time. Our first of four children, I thought to myself, the one thing that I really want to do is I want to interrupt the pattern, I want to I want to make sure that you know rather than trying to define 1000 things that we’re going to hold our children accountable to, why don’t we boil it down to three, what we refer to as golden rules, and everyone outside of our family can relate to them as values. And so we’ve raised our children, and we’ve held each other accountable to to three golden rules and that’s to be responsible, be respectful, and be kind. And so if you think of anything that’s happening, and you know, having the both of you raise seeing children yourself, you can, you can attribute any behavior that you want to positively reinforce, to one of those three golden rules. So you want to purposely catch your children and catch each other doing something right. And then when things don’t go, right, whether it’s for the kids or for us as parents, we can also attribute that to one of the three golden rules. And part of our values is to to really be okay with expressing that vulnerability and accountability in front of our children to say, hey, you know what, when I raised my voice there, I really broke all three golden rules, I certainly wasn’t being responsible, because I’m the parent. I really wasn’t being respectful in that moment. And I apologize, will you accept my apology, and wasn’t being kind, and children, they can, they can easily conceptually understand what you just described, versus if we take off the scroll of the 1000 rules that we have in the home, let’s go to rule number 422, I broke that one. Let’s go to rule 829, I broke that one. We tried to keep it very simple. And be very clear about what our values are as a family and our late mentor, our Nelson Nash, who’s right here, right here next next to me every single day and think about him and miss him every single day. The one thing that he inspired me around was never deviating from your principles. He said, You know, if you ever deviate from your principle, the first deviation is the most difficult, but each one after that gets easier. So don’t ever deviate from your principles. And I’ve tried my very best in recognizing that I’m human, and I’m fallible. And but I’ve tried my very best to, to honor that because he was he was quite serious when he, when he imparted that that wisdom, and you never wanted to have a woodshed moment, with Nelson. He knew when to hug and he knew when to kick to. And I respect him so much. And he’s really helped to shape my values as a person and as a husband. And as a father. And as someone who believes in community, as a friend, as a, as a co worker, as a leader. It just translates and spills over into every aspect of my life. And so that’s that would be an example of values and how that shapes you, you know, as a person is without that set of values, you’re just winging it.

He said, a good track record to follow as well. I mean, he was married to his wife for I think it was 55 years before Nelson passed something to that effect. And, you know, I remember thinking in conversation, some of the last few conversations I had with him. We were actually sitting in Birmingham, Alabama at a restaurant and I got the pleasure he was, you know, Nelson was across the table, and I got to sit next to him marry his wife, just an absolute sweetheart of an individual just like the most amazing human being. And, you know, I got to pick her brain a little bit about what are some of her wins and successes in a long marriage? And what would she impart upon someone who’s recently married. And so you find someone who’s doing something that you you respect, and you want to emulate to some degree, and then go and ask them how they did it, go and ask them what advice they would provide for you, relative to their circumstance in years. And I always found that, you know, growing up, I spent a lot of time with people that are much older than me, and I really liked being around, you know, my, my parents, friends and my siblings, friends and watching and paying attention, like what’s going on with these people and I, I would recognize where I saw something going off course in a direction I didn’t like, and I was like, Ah, interesting. The sequence of events lead you down this way. This sequence of events leads you here. So so take some clues from history and from the past and see, what are people What have people done that you you want to follow that similar path or track, go and find out how they did it? Go and pay attention to what what habits they created around that successful outcome, then go and duplicate it for yourself.

You know, I think we could go on this particular topic for a really long time because the way I see it and this is what I admire about you both so much is that I firmly believe that what brought you guys together was that value alignment. And you both have this calling on you like this is it like this, this is where it’s at. And this is where I need to be. And this is what we can do together. And this is how we can impact the world. So I would love for you to share just a little bit about, okay, first of all, what does it mean to be your own banker? I mean, you guys have mentioned this, this person who’s been such a great impact on your life and how it’s changed your life and impacted others. So talk a little bit about that. And then I’d love for you to lead into, you know, when you think about the future of the work that you’re doing, what has you most excited?

Oh, wow, I would rich, if you’ll permit me to say I mean, you know, the, the essence of becoming your own banker, the Infinite Banking concept is to recapture the money, the interest that you pay, the banks to credit card companies, finance companies, are all those things that you need throughout your lifetime. And if you think about it, anyone who’s listening can relate to this. If you think about whatever method you earn income, whether it’s w two, whether it’s interesting, comm dividends, wherever that source is from, isn’t it true that at present, all that money is flowing through the books of someone else’s bank. And so you’re doing all the work to earn income, and everyone else is getting all your money. So when you speak to someone, a prospective client, and they say, Hey, I’m make I make $150,000 a year, now you don’t, you just handle it, you don’t make it, you just handle it. And every financial transaction in your lifetime that occurs, is a permanent transfer of that money away from you. Whether you’re buying groceries, fuel for your vehicle, paying the power bill, paying the internet bill, whatever it is, all those transactions involve a permanent transfer of money away from you, you can’t save the money again, spend it again, earn interest on it, again, not just for your generation, but every generation that comes after you. Someone must perform the function of banking as it relates to your needs, and that someone should be you. And so through the implementation of this process in your life, you get to take control of that function as it relates to your needs. Think about any time in your life, Brittany, yourself included where you felt tension, frustration, anger, it’s likely due to an absence of control. Are you not getting something that you want?

Would you agree, I would agree, yes. And so
if you put yourself in a position of total and absolute control, as it relates to the banking function in your life, you begin to create a very peaceful, stress free way of life financially. Think about all of the things that you do with your money. And think about all the things that your advisor community in your client community do with their money. They’re constantly handing control of it over to someone else who thinks they can do better with it than they can. And it’s suffice to say it’s not an either or becoming your own banker is not take control of the banking function, or put my money into a 401k or crypto or real estate or growing a business buying a business. It’s an as well as, because you really truly can’t get a better rate of return doing anything if you can, if you if you lose sight of and you ignore who’s controlling the banking function as it relates to that thing that you’re doing. And so we’re in a perfect place to be able to complement what existing advisors do for their clients to be able to complement what a client’s existing financial objectives are. We just put them in control of that critical function. And they get to build an indestructible warehouse of wealth. in their garage, good. Yes.
Wonderful.

You just got inspired hearing that? I can, I can see
it. My wheels are spinning because you see, I wear everything on my face. So there’s there’s full transparency all the time.

And I’ll I’ll just I’ll just say this before turning the microphone over to Rich is that with Nelson would Nelson did such a brilliant job communicating this he said, Look, the truth is someone has to perform this function in your life, no matter what’s happening in the economy, inflation, real estate cycles, stock market volatility, no matter what’s happening out there, interest rates rising, falling, the process of banking goes on no matter what. And if you can take control of that function as it relates to your needs, and you can get those snakes and dragons those bankers out of your life. And you can build a pool of financial value. opportunities of high caliber will track you down If you can create that peaceful, stress free way of life financially, Nelson and his wife, Mary did not see a commercial bank for anything other than the convenience of debit for 25 years prior to him passing away. Wow. And my family, and many of our clients who are who’ve been on this journey with us, we’re 15 years into this journey of teaching folks how to implement this process in their lives. We don’t rely upon a commercial bank for anything other than the convenience of debit, when we need ready access capital to take advantage of opportunities, or to finance something in our lives, property, business equipment, vehicles, appliances, the list goes on and on. We have ready access to capital on demand on our terms. So that puts us in a position of total control. God forbid when that day comes, and we graduate, and that day will come for everybody who’s listening to this or watching this. There’s also a tax free windfall of money that shows up exactly when it’s needed the most. Is there anything stupid about doing that?
One would think no, logic would tell you absolutely not. Yeah, right. And so that is, it’s impossible to explain Infinite Banking concepts, this process of becoming your own banker in 10 minutes. But I’ll tell you, if you read 92 pages in this book, titled becoming your own banker, it will open up your eyes to a whole new financial world. And I haven’t met anyone with a closed mind who’s ever achieved their potential. So if you read this book with an open mind, oh, my goodness, things will begin to change in your life financially that you never even thought were possible.

You can’t unlearn something, once you’ve learned it, you know, that’s their plan. And that’s why I was so angry when I first read the book, because like, why wasn’t this here before. And so one of the things that Jason mentioned against becoming your own banker, the key word here is your own. And we really focus on a coaching mindset with our clients in the education that we do with the podcast, and etc. Because no one can be the banker for you right now, that’s already happening. The problem is you’ve abdicated the responsibility of who’s doing that in your life. And we need to bring that responsibility back at the you and me level. And once you take it back, and you take it back incrementally, it doesn’t happen overnight. It’s a process that happens over time and years, but you’re clawing back some of that those components a little bit each and every time, sometimes a lot in periods of time. And as you do that, you’re now operating now in a multigenerational thinking method. And as Jason identified, you know, with his own family, they have an entire system encompasses his direct, immediate family. He’s even got me in the system, he’s got a policy out on my life. He’s got other family members, other business partners, etc. And all that’s building up a capital reservoir that can be utilized for many things that they do in life. And at some point time, someone’s not going to be with us anymore. And whatever day that happens, because I don’t know if you checked on the back of your neck, that there’s not a best before date stamped on there, right, Brittany? No, no, if you, you and I and your listeners don’t know, you know, there’s not a calendar date pick, when we say that we’re out of here, you know, our date, our day is up. And so we don’t know when that’s going to happen. And so what we do know is that it will happen. And so to not plan and prepare for it is almost irresponsible. And you can now incorporate a profitable method of responsibly looking after that outcome plus a whole bunch of other ones in the mix. And so even you know, in my family system to my daughter, I started teaching her about this around the age of two, started with reading a story book that she had, and a little girl wants to go buy fancy shoes, and she goes to get the shoes and she doesn’t have enough money. She goes to her piggy bank, she counts up. She’s got $20 and she needs $40. And I use that as an opportunity. Say, Okay, and my daughter’s name is Nora. I said, Nora, where do we where do we get our money? She’s like, the family, the family piggy bank, the Camfield Family Bank, boom, high five, high five. This is great, great. And what do we need to make sure that we do and we use the money. She says we have to put it back in? Boom, high five, high five. Why do we have to put it back in Nora. So we can use it again later. And so she gets that principle at age two. And I’ve been reinforcing it, she turns five and in two weeks, and my son has picked up on that, of course. And so now with Jason’s guidance, we are now incorporating Family Bank and annual family banking meeting. I actually believe it will make it a bi annual family banking meeting, we’ll go to someplace where we celebrate, we have a vacation or everything’s positive. And we’re going to cement positive behavior and positive outcomes to the learning lessons of incorporating family banking thinking so that we can create that multi generational path to utilization of money, where the money is transacting in such a way where we’re harnessing its potential for beyond our own lifespan. Nelson Tata sooner lead to learn how to think beyond your own lifespan. You should be linking thinking to generations down the road. And when you move If you’re thinking to that position, the decisions that you make today start to modify to a financial advantage that impacts everyone.

And the knowledge that you transfer is the legacy. But isn’t that good?
I mean, you guys, this is awesome. And the thing that I will say to us, for our advisors listening to this, you know, the reason we bring people like Richard and Jason onto the podcast, is so that you have even more resources that you can potentially put in front of your clients. That’s simply what it is. So I think it’s our honestly, it’s our due diligence as advisors, whether you’re excited about the concept or not, you need to know about it, and understand it enough to speak to it. Because the bottom line is, is people pay attention to this stuff. They’re looking at creative strategies, they’re looking at alternatives to the traditional, you know, traditional investment sense. So, you know, I think that regardless of if it’s part of your model, or your way of doing business, or whatever that looks like this awareness is so I guess it’s amazing. And it’s amazing to see what you guys have done. And I have such appreciation for both of you and the work that you do and how you lean into it with just such a complete genuine nature. So while I wish we could go on with this for forever, we must let our listeners get on with their day pretty soon. So before I ask you my final question, how can people get a hold of you? Where can they go to learn more? You know, how can they stay in touch all that good stuff?
Oh, wow, there’s an abundance of resources, I would say that for folks who enjoy reading. So Richard and I co authored a book titled Canadians guide to wealth building without risk. And if for all of our American colleagues in the industry, just substitute the word Americans guide to wealth building without risk. What we described in the book does not recognize borders. And so get your hands on a copy of that you’ll be glad you did. If you’d like to learn on YouTube, then you can visit us at Bankers Vault, which is one of our two YouTube channels, we upload new content to it daily. The second channel is titled wealth without Bay Street, wealth without Bay Street. And Richard Knight, we love to hear from folks in terms of their insights, clarifying questions that are coming up for them. So we’d love to hear from you. You can find us on Facebook, LinkedIn, the Instagram ease the tweeters, the tick doctors, the what the whatever platforms there, we have a great team that scattered all over the social media platforms. So we’re not, we’re not hard to find. And if you’d like to, if you learn through audio best, then you can tune in to the wealth with obey street podcast. And I think for the advisor community, you would really be particularly interested in the client series on our podcast where we interview real people and their journeys with this process of becoming your own banker. We never have bad reviews with our clients. And so if that’s something that’s appealing to the advisor community, you’ve got an opportunity to investigate this process, and how it can be an advantage for your marketplace, as well.
Amazing. And we’ll make sure that we include all of those links to everything that you talked about in the show notes. So it’s super easy to navigate, in case people are driving listening to this, and they’re going oh my gosh, I gotta stop. How am I gonna get to this? So we’ll include it all. So my last question is, What haven’t I asked you that I should have?

You think Rich?

I guess the question would be, why did it take you so long to write your book, get your book out? Oh,
why did it take you so long to write your book?

Because we both have busy schedules, and we didn’t really know what we were doing. And then we needed some good coaching. So we did all those things and implemented those steps. And so it took a little longer than anticipated. But not only do we get this book out, we have our next one, a Book Two, which will be released before probably before Christmas, which is cashflow was the leader uninterrupted daily growth with high cash value life insurance. And then our third book is being worked on next. And in fact, the fourth book, Jason and I, when we were together here, over the last weekend, we got a chance to look at some of the initial manuscript material, which is going to be really around family banking, and how to host and hold and incorporate the family banking meeting into your life, regardless of what you’re doing in your financial life, to enhance conversations within the family. So that’s a North American launch. And so stay tuned for that’s going to be incredible. Procrastination really is what it was Britney I mean, Dan Sullivan taught us that procrastination is actually a good thing. Right? It means that the goal that you have is really good. You’re just not the who that should be getting the hell done.

Amen. And I would say for our advisor audience, listen in between the lines on this because we encourage all the time a book is, oh my gosh, it’s a beautiful marketing piece. It’s a way to impact the world, you can impact many and not have to be everywhere all at one time. It’s just such a great thing to do. So I think that who not how concept of finding somebody that can help bring your book out of you that can help bring it to life, get it published, don’t put it all on yourself. Or we’ll be sitting here a year from today, two years from today, and you’ll be like, I’m gonna get to that book sometime. So, Richard, Jason, it has been such a great pleasure having both of you, you can tell that you both show up with such authenticity and transparency and a great passion for what you do. So I wish you so much continued great fortune, and I am looking forward to building a lifetime friendship with both of you.

Likewise, thanks.

Thanks so much, Brittany. Fantastic.

Hey there, Brittany Anderson here. If you are loving what you’re hearing on our Ultimate Advisor Podcast, don’t keep us a secret. Share us with other advisors that you think would benefit from the messages that you are hearing. The easiest way to do that is to simply send them to ultimateadvisorpodcast.com. And if you want to learn a few other ways that we could potentially serve you as an advisor, go check out ultimateadvisormastermind.com. As always, we are so happy to have you here with us as part of the Ultimate Advisor community and we look forward to a continued relationship!