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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In this episode of the 9innings podcast, hosted by Kevin Thompson, the focus is on entrepreneurship in financial advisory, community building among advisors, and industry challenges like consolidation. Kevin, the founder of 9i Capital Group LLC, introduces guest Eric J. Negron from Forefront Wealth Partners. Eric shares his journey from feeling constrained in traditional firms to founding his own company, driven by a desire for independence and a supportive work culture. They discuss the significance of the Future Proof Festival, the role of social media, and the importance of authenticity and collaboration in the financial industry.

Forming Forefront Wealth Partners (00:03:50)

Entrepreneurial Spirit (00:05:22)

Future Proof Festival Overview (00:06:51)

Discussion on Industry Dynamics (00:11:28) :

Launching Forefront Advisor Network (00:17:49)

Learning from Others (00:22:24)

The Impact of Social Media (00:24:15)

Authenticity in Business (00:27:34)

Redefining Success (00:30:29) Eric shares his vision for success, focusing on training new advisors and creating legacies.

Preparing for Future Proof Festival (00:31:34)

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