Becoming Your Own Banker: Start Them Young!

If they just received death benefit windfalls, what are the odds that they're going to be good stewards with that money? If they have no knowledge or the foundation of family banking? Slim to none, if you think about teaching children the foundation of family banking, Understanding the policy loan process, understanding the importance of not stealing the peas, understanding Nelson Nash's five golden rules. You were sharing something with me just before this break, actually, and we should probably start with that because you had asked, can I share this with everyone once I'm up here? And so go ahead.

You're not wealthy until you have things money cannot buy.

Charlotte, why do you feel that family banking meetings are important?

It's important because you need to teach your kids how it all works and stuff. So then they grow up and they are like my dad. They have their own business and they do all sorts of fun things.

Yeah, you mentioned something to me. Actually, it was a few days ago, and you mentioned something about school.

Do you remember what you said?

That school should be putting this type of stuff in their education program because kids need to learn how to do this stuff or else they're gonna grow up to be like, what is this? What is that? Huh?

So if you were to describe the family banking meeting, how would you describe it? What has your experience been like? Because you've been through three now, and now Charlotte's 10 years young. She knows what a policy loan is, and she knows why it has to be repaid with interest. Why is that, Charlotte?

Because it's a family business and you don't want to steal the peas.

Isn't she good?

And so describe your experience. The annual family banking meeting.

It was definitely fun. The one that we had in Mexico, it was when I was more old, so I understood everything that he told us, and it definitely felt.

Good because I was with all my family and. Yeah, yeah.

And so you're looking forward to. Because you said that you want to be on this stage and you want to be talking about presenting the process. And who do we give thanks to all the time?

Nelson Nash.

Why?

Because without him, none of this would have been possible.

Well, I'm just going to let you finish off the rest of the day there, Charlotte. So when Nelson taught us, you know, one of his golden rules is to think long range, is that children, much like adults do too, learn best through simulation. And so for us, it was simulating this with our children so that they could ask really insightful questions. Do you remember we went through a goal setting process in Mexico? You remember that?

Yeah.

And we Involved each one of the children in what the process is to establishing a goal. Why it's important to be accountable once you make a commitment. Because if you think about all the things that we talk about, right. If you fall down, what do you do?

Get back up and try again.

Why?

Because I'm low.

Yeah.

Yes.

No. I'm going to put my daughter on the spot here because she's made some really interesting comments about this. And so, Charlotte, what are your thoughts on taxes?

They suck.

She said that to me. She goes, dad, I got a few things to say at this event. And I said, really? What's that? She goes, one of them is that taxes suck.

Why? What inspired you to say that?

I don't know. I watched a lot of YouTube videos and I kind of just learned from that.

What message would you want to share with everyone here today about the importance of involving family in becoming your own banker?

Because kids have to learn. And if they don't learn, then they're gonna be like, oh, how? And then they'll just like, oh, God.

And then they'll try and read off online and, you know, maybe they'll look up on Wikipedia. And that never helped you.

I love you so much.

Okay, so.

When we talk about policy loans as a family.

Yeah.

What do you know to be true about policy loans? Like, what do we talk about?

That you have to pay them back.

Okay. How often?

As soon as possible.

Why?

Because it's the family business and you have to obey the rules.

So how many chances do you get if you fail to repay policy loans?

What.

And then what happens after that?

You're out.

We told our children, and, you know, we're. We're quite serious about it. Is that when you begin the process of accessing policy loans and repaying them to the family banking system, remember, this is a business, and if you are accessing money and you're not repaying it, if you were an employee of a business, how much longer would you be employed there? You would likely be charged with theft if you weren't paying that back. So with our children, we let them know that it's not a three strikes, you're out policy, it's one. So don't strike out. When you access loans, you have a plan to repay them. And when you repay them, you get to re access everything that you repay, including the interest. And our children are utilizing these policy loans for a variety of things. Sporting equipment, tournament fees, dance costume fees. There you go. Dance costume fees and so on. And are dance costumes cheap or expensive?

Expensive.

Right. And so our twins and our oldest daughter know that they've got to get that money back in. I'll tell you, something begins to happen with the way that children think because she is not polluted with any of the noise that's out there. Let me give you an example, Charlotte. How often do the kids ask about what the internal rate of return is inside of an insurance policy? Never.

Right. How often have you asked me to see your policy illustrations?

Never.

Do you pick up on what's going on here, folks? It doesn't matter. What matters is keeping the money in the family. And the more money that you keep in the family, the stronger the family bond. Bonds and becomes. Yeah.

And so life insurance companies, much like any other business, they have an area of specialization. We specialize in the placement of insurance products that include dividend paying, whole life insurance contracts. What we're doing and what we're encouraging and wanting to inspire all of you to do within your families is to help these life insurance companies receive inspiration to rethink their thinking. Because my goodness, look at the mess that the world is in today. Created by the central banking system.

Insurance companies continue to be the most solvent financial institutions on planet Earth. Does anyone in this room believe that that's a coincidence? It's an engineered outcome. Some of you have been clients since the last financial crisis. And then when inflation started to skyrocket, when there was political turmoil, when interest rates started to rise, our phones started to ring and clients were asking, oh my goodness, is anything going to happen to the insurance company? Are my policies going to be okay? Are we going to be okay? You've heard us shouting from the rooftops for years that when interest rates rise, what happens to your policy values? When the economy recedes, what happens to your policy values? When there's political turmoil and uncertainty around taxes, what happens to your policy values? And so that gives clients peace of mind and certainty. And the insurance companies have been doing this a long time. And so you look at all of these events that have happened and you think, my goodness, why? How is it even possible that the only deposit taking institutions on the planet that remain solvent are the life insurance companies? It's because they engineer that into the pricing of the products that they distribute. And then they take a portion of every dollar and they set that aside as a continuing capital surplus reserve. And they do it over and over and over and over again. That's why during COVID carriers did this, their businesses boomed.

And guess what happened? People who have never experienced a financial crisis before, who are just getting started right now. Imagine how they're going to feel when times normalize again, Interest rates come down, inflation stabilizes. You can shield yourself from all of this. And this is what we're teaching our children. We're letting our children know. You're going to need to buy more dance costumes eventually. You're going to need cars. What are some other things you might need?

A house.

Okay.

New tires for my cars.

Okay. All right.

To pay for the dance lessons.

Okay, good.

If I have a son, hockey equipment.

You know, I want all of our children to have many children so that we can create more policies on all of our future grandbabies. And Charlotte. So what do you think mom and dad are going to do when grandkids come along?

Cry.

You know, the one thing that I want to share with everybody here, 10 years from now, 20 years from now, 30 years from now, I want you to come back and review this video, because your star power, what you're going to do, how you're going to impact people's lives is going to be remarkable. Absolutely remarkable. And what I want to do is I want to open it up to questions. And so if you think about anything that was discussed today around the theme, the foundation of family banking, I'd love to hear from you. I'd like to hear what your questions are, because Charlotte has offered to help answer some of those questions. So how do the kids pay back the loans.

If they have jobs? Like, when they get a job, they just take their paycheck and they just. Here you go.

And so how do you earn money? Being that you're 10 years young, how are you earning money?

Chores.

Like. Such as doing the dishwasher, cleaning my room, doing my laundry, emptying my cat's litter box and refilling it with new litter.

Gosh. And, you know, I get all. There's so many kids in the family with all my nieces and nephews, I get their ages mixed up. So my nephew ethan, so he's 17 years young, and so he's been earning an income and working. So he's, you know, pursuing the trade of being a car mechanic. And he gets paid, and he takes that money and he flows it through the family banking system. Why would he want to do that?

Because one strike and you're out.

So. Okay.

Oh, God.

Oh, goodness. Okay, well, that's one. That might be one of the reasons. Do you know what the default rate is on loans within our family? Zero. Imagine for a moment. Okay. Just to cast a vision into the future, our children Are all grown up. They have families, children. They have, you know, property, pets. Pets, you know, pursuing the family business, you know, being a part of that. Well, if they just received.

Windfalls, death benefit windfalls, what are the odds that they're going to be good stewards with that money? If they have no knowledge or. The foundation of family banking. Slim to none. Teaching children the foundation of family banking. Understanding the policy loan process. Understanding the importance of not stealing the peas. Understanding Nelson Nash's five golden rules. Think long range. Don't be afraid to capitalize. Don't steal the peas. Don't do business with banks. And the fifth one.

And the sixth one. Create a place for future windfalls. So here's the deal. Charlotte has six policies on her life.

I do.

She's 10. Can she pay the premiums on those policies right now? No. So we put something into place for her that she could not do for herself at that time. Do you think that when she is 48, do you think that she's only going to have six policies?

No. Here's the teaching point. Now we have underwriters here from Equitable, Rosie being one of them. Now, Rosie has an underwriting process. She is remarkably thorough. Underwriting, meaning the application goes into the insurance company. There's a process to assess risk and to make sure that if they approve this contract, that from an actuarial perspective, there's a high probability that the life insured is going to live a long time. If the insurance company indicates, as a general rule of thumb, if the parents have a million dollars of coverage on their lives, that the child should ideally have no more than a half a million, Just using just a general rule of thumb, if we've been capitalizing policies by paying premium on our lives, Rebecca and I as parents, then we are going to trigger a massive windfall when Rebecca and I pass away. If we've been creating these policies on our children from a very early age, and then our children repeat that process when they're adults earning a lot more income, there's a lot more merit for additional death benefit. If we're truly thinking long range, when it comes time for them to create policies on their children, are they going to have much more room to create a much higher starting death benefit, what does that do to the circumference of the money pool? It increases it. So when you're thinking about this for your children, we get the question often, right? We get the question, who should I begin with? Should I put the policies in place on my kids first or myself? If we rethink our thinking as parents, even as grandparents, you've got to get those policies in place early. And then if you have a much larger windfall, a much larger total death benefit, you can expand those programs on your children and then they can expand them dramatically on the next generation. Here's an interesting example. 50 year old.

Male, uninsurable. So we can't expect every human being to be perfectly healthy. Says, gosh, you know, I'm not quite sure that I can implement this process because I know for certain medically I'm uninsurable. Has a 23 year old daughter, puts a policy in place on 23 year old daughter and 23 year old daughter is going to be pursuing a very well paying vocation. Like daughter is going to do very well. The minimum premium on that policy is $10,000 a year. The accelerated deposit option is $10,000 a year.$ dad puts $20,000 a year into that policy. He's $50,000. Does that for 20 years. Now he's 70. For the next 14 years, he's taking out $28,500 a year as a withdrawal, not a policy loan. A withdrawal. Do we talk about withdrawals? No, never. So he takes out withdrawals and he gets all $400,000 back that he put into the policy.

He dies.

That's sad.

It is sad, yeah. He passes away. How young is he when he passes?

Because he started taking the money at age 70.

He's 84. He leaves behind for his daughter $714,000 in cash value and a $1,400,000 death benefit. And she immediately becomes the primary owner of that contract. Does that not sound a little bit like insurance on dad? When the daughter turns age 65, let's just use the stereotypical retirement age. She withdraws. Are we talking about withdrawals?

Never.

We want to show, let's take money out of the policy. Let's see how well we do. She withdraws $1,200,000, $60,000 a year. She dies at age 90.

Leaves behind more than $1.6 million to the next generation. Is that thinking long range? Yes, almost.

Because.

Because what should we have done differently.

Rather than withdraw the money, use policy loans and should we have only had one policy?

No. Could daughter have created a policy on her own life in the future?

Yes.

And then could she now have a place to store future windfall when she has children and she is leaving behind a death benefit to her kids? Hopefully what she does, which is what I'm going to do with all your policies, mom and dad are going to rack up as much policy loans as possible.

And then when mom and dad graduate, a tax free windfall. You must be happy about that because you don't like taxes. A tax free windfall is going to show up and you will already have instructions that you're to use that money first and foremost to pay off all the loan balances on your insurance contracts that mom and dad racked up. Ooh.

Hey, what do you think about family banking now?

Amazing. Okay, but I just have like one question.

Yes.

Can I be the 23 year old daughter that gets a lot of money before she passes away?

Charlotte, believe me, there will not be a problem there. So that's what the plan is. So what Rebecca and I are going to do is that we're going to utilize what we can borrow against in our children's policies. We're creating a space for future windfalls of money. Because if the children just get all of that windfall and there's nowhere to put it because all the premiums are paid and there's no loan balances, then what do you want to hear? Something really cool. So what you're going to hear an announcement about is we're creating the Nelson Nash Memorial Fund. And so through that fund, we're going to be providing bursaries, we're going to be helping people, we're going to really amplify giving. And we're going to do that to honor Nelson's legacy because he shared with me a few weeks before he passed away, he said, jason, I always want you to remember that this is all about the message, not the man. So don't glorify the man, glorify the message. And this is one way that we can really truly honor Nelson because we believe that he deserves just a never ending stream of gratitude. And guess how the memorial fund is going to be funded?

Policy loan proceeds. Because we want to create a space for future windfalls. Isn't that good? Okay, question. When you are with your brother and sisters, what are the conversation between you about the infinite banking? What do you talk about that?

Policy loans and how we want to take them out.

She says policy loans and how we want to take them out.

Oh, I love it. Okay, we have another question. Go ahead.

Charlotte, if you would have two daughters and you introduce the IBC concept to them and they're not interested, so what would you do? I would be very mad.

I would teach them more about it and teach them more about, like the fun parts of it. So then maybe they'd Be more interested in learning about it and stuff.

Yeah.

What do you do? Are you about to cry?

I am.

I've got a question. Say you weren't smart enough to take out policy loans to make rude for when someone graduates and the person that's graduating passes on a really large amount of money, like eight figures, let's say. Yep. Do you have strategies to deal with that situation? Yes, absolutely. You know, on our team, we're very blessed to have not only a few chartered accountants, we also are blessed to have trust and estate planning on our team as well to address those very issues because it's not uncommon. Believe it or not, those windfalls do happen. And there was really no planning in place. And so what do we do now? We've got this windfall of money. The immediate urge is to go and pay off all of the debt. And when emotion, like when you know you're really emotionally sensitized, you're grieving and completely understandable the urge there is to look to money to soothe that pain. And that's not uncommon. And so having really good guidance available from additional teammates of ours is going to be instrumental to helping you or to helping someone, you know, who might be experiencing that. And you don't have to be a client of ours for us to render that assistance. You know, we're here to help. And that's the beauty of it. You know, I shared, I was, pardon me, I was talking to one of my teammates earlier and he said, you know what's interesting? Something we have to convey to the attendees. When you think about cash value has to grow to match the death benefit by age 100. Well, if you or a family member becomes medically incapacitated and they're keeping you alive on these, you know, ventilator machines, tell them not to pull the plug because every single day that you're alive, the cash value is going to keep growing. And I, I say that just in good humor. Of course, nobody wants to see a family member in that circumstance. But it was just, you know, it's just a different way of thinking. It's like, hey, don't pull the plug yet. The, the other thing, on a more serious note that I want to share. So Charlotte, you, you've heard, you know, we've had conversations about my dad, you know, my mom and your grandparents who you, you've never had an opportunity to meet. And do you remember some of those discussions and, and what we shared, that.

They were very special people.

Yeah.

And kind hearted people. Yeah.

Both my parents passed away with no Insurance coverage in place. My dad had a participating policy, and when he retired, he served the federal government as a regional assessment officer for 32 years. He passed away almost a day a year to the day that he retired. In fact, the anniversary of his passing was yesterday. And when he passed away and we had to go through the process of taking care of his final affairs, you have to complete what's called a terminal tax return, and then you have to obtain a tax clearance certificate from Revenue Canada before you can, you know, distribute what's in the estate and things of that nature. And it was documented that he had a participating policy. And so when we investigated it, we had uncovered that his advisor had encouraged my dad to surrender the policy, which it is your privilege to do at any time. You control that. So he was encouraged to surrender it in exchange for the total cash value. And the communication was something to the effect of, you're retired now, you don't need the death benefit, you need the money, so surrender the policy. That would have been so valuable. And I was in my early 20s at the time, and I had to step up and be the patriarch of the family. And I learned in a real hurry how I never, ever want to leave things for my children. And at that time, all I could do was dream of being a dad. And to have to experience that and go through it, and then to have to deal with an estate where, you know, the first beneficiary comes knocking on the door. And that beneficiary is Revenue Canada. And when you believe it, they don't take any substitutes for money.

So you got to convert things into money to take care of the bill. And you've only got a limited amount of time to do that, isn't that right, Henry? And if you don't complete that within that limited amount of time, they'll help you move that process along in a real hurry. I made a solemn commitment to my family that I will never, ever, ever, ever leave them in that situation. Because passing away is a difficult enough blow to the family. And having to deal with grief alongside stress and pressure, financially, nobody deserves that. And so when you think about your families and you think about what you're doing and you think about implementing this process, if you're new to this journey, please don't forget the death benefit is important. Yes, very important. Please don't ever forget that. And the more capital you put in, the larger the death benefit becomes. The larger the death benefit becomes, the more cash value that piles up. The longer you live, you're a hero. To your family, heaven forbid you die early. You're still a hero to your family.

Is this only something that can be done in Canada and the us? I'm from Denmark myself and I just had a nephew this summer. And I would love to put a policy in place for him, but I'm not even sure if it's possible to do anything in Canada that would be beneficial for him. I wanted to ask how Equitable capital is. How is it all stored? Where is this pool of money actually sitting?

Yeah, that's a really good question. Let me tackle the first one. We can certainly help find out for you if there's an option there. I know with one carrier, there was an option overseas at one point, but I think that option's gone away. But we can certainly help you find out the answer to that question. The second question with Equitable. So Equitable maintains very little of the money pool in cash, and that's a good thing. Would you agree? Because, Charlotte, what happens when money isn't moving?

It's not worth anything.

So money's got to be in motion. So Equitable puts capital to work primarily, if you look inside their money pool, it's primarily in guaranteed fixed income instruments that provide a guaranteed stream of income back to the money pool. Equitable lends capital on commercial real estate and purchases commercial real estate. And guess what? Equitable's default rate is on loans on commercial deals. Zero. Why is that?

Because they just magically selected all the perfect deals. What does an insurance company do really well? Underwrite. They manage risk. And the money that comes in in the form of premiums that are paid from policyholders, not just participating policyholders, but term life, critical illness, group employment benefits, savings and retirement programs. All this money that's flowing into the pool. Equitable has a very clearly defined mandate. Nowhere in that mandate does it say we're going to circumvent regulation and speculate with a lot of this money in the money pool. Right. They have to put capital to work because they're thinking in terms of 100 year theoretical lifespans. They're not chasing the next quarter, the next 90 days like Wall street or Bay street. What Equitable does a really good job at. If you go to Equitable CA and you click on Whole life, there are some PDF documents that outline exactly where the money pool is invested. And so you can go and take a look at that. The company does a great job of providing quarterly updates to describe how the money pool is doing and so forth. But if you look at the money pool right now there's probably about 0.4 to 0.6%, maybe in cash. Anywhere from 12 to 14% of the money pool is in policy loans. More than 60% of the money pool is in fixed income. And if you look at, you know, private placements, Equitable gets to enter into preferred share arrangements with reinsurers. And there's a whole wide variety of things that they do. But there's one word that comes into the conversation before a dollar is ever, ever invested. Stability. If stability is not part of the equation, they're out. They won't participate in it. They can purchase baskets of bonds that you and I could never buy as retail investors and get much better rates. And what Equitable does with a portion of their bonds, they don't trade them like Wall street or Bay Street. So they, they're not trading in and out of a bond portfolio like a bond trader would. They hold bonds for the duration. If they're dealing with municipal or corporate type bonds, they'll trade those. But the longer duration deals, they're in it for because they understand thinking long range, too. They get it more than they know. So do you ever discuss IBC with your friends and how do those conversations go?

I don't really, because my friends don't really know a lot about it. But I'm hoping after this, once I go to school on Monday, I'll definitely. Well, I know I'll definitely be talking about it and teaching my friends about it.

I had a similar question for you as well, Charlotte, as far as teaching kids, because I'd really love that for my kids. A lot of us as adults didn't have the opportunity when we were younger to learn any of this. So it'd be great, you as a shining star to be able to impart that on them. And I'd love for you to meet my kids at some point as well.

All right.

Yeah.

It was really inspiring hearing what you had to say. Second question for Jason. The last two years have been a tumultuous one for all of us with COVID and everything, people losing their businesses, losing jobs and so on. For somebody who already had a life policy, for example, and was to have lost their job and can no longer afford to pay those policies, is there something in place to help them to continue to do so or what happens there?

Oh, most definitely. Yeah. The, the options there, God forbid, if you lost your job and you didn't have the financial resources to pay premium in the policy, the way that our coaches would engineer the policy, there would be a Massive amount of flexibility there. And there would also be reduced paid up options. There would be, worst case scenario, a surrender or a forfeiture option where you would get that total cash value back, which we would avoid at all costs. Like, we would work with you very closely to keep that policy in force. The policy from its original form can be reduced to accommodate what your level of financial resources are to continue the policy in some capacity. And so I've only touched the surface of the myriad of options that are available. That's why it's really important to work with somebody who knows what they're doing, who can, rather than say, oh my goodness, let's get that policy surrendered so we can get the money in your hands. Hey, why don't we talk about how do we keep this going to whatever degree we can. Let's exercise every available option that we have to keep this policy enforced. Because I can tell you that knowing what I know now, if I had a time machine and I could go back and I could be there when that advisor was speaking to my dad, who wasn't in that situation, he had just retired. And to be there to say, dad, you don't want to surrender this policy. If you want to tap into the accumulated value, you can borrow against it. And then without interrupting any of the daily growth of everything that's in it, listen, I have a pretty good inkling that I'm not going to be around in a year. Then spend the money and then the death benefit will extinguish the loan balance, the residual will come to your family, and you won't have a son who has no clue what to do when he's dealing with a full room of grieving family members. And I'm trying to sort out how to deal with this mess and have no earthly idea where to start. Getting your kids educated, making sure that you're having your periodic family banking meetings to keep the kids involved, get them involved. And then once you do that, believe me, if you're ever in a situation where somebody tries to tell you to cancel the policy, give Charlotte a call.

She knows exactly what to do about that situation.

You know how you have to somewhat use the bank for deposit just to. Yeah. Is there any way of not at all using the banks?

Not. Not presently, you know, maybe in the future. Yeah. Our hope is that at some point, you know, that there's some influence to be had on the bank act here, here in Canada. But if there was an attempt to exert that influence, you can imagine the massive lobby of, of the Banking industry would absolutely crush that initiative. There would have to be something in it for the commercial banking system to make that viable. But there are a number of fintech companies that are setting about to disrupt the industry. I can't stand that word because it means that someone has to lose. Could you imagine if the banking sector and the life insurance industry got together and said let's make something remarkably beneficial to the people who store money here? The world would be a much different place. But you know what, we don't have to play their game. We've already got the ability to create that warehouse of wealth. And it's not your money that's moving through the system, it's the insurance company's capital that's moving through the system. Right. When you access a policy loan, you're not using any of your own money. Right. Your money is warehoused inside of that institution that you co own that just keeps producing divisible surplus. Is it logical to store money at the insurance company?

Yes, of course.

Okay. And I asked earlier, how much of your capital do you not want residing there? And so if you think about it in terms of your life and the amount of death benefit that the insurance company is willing to underwrite on you, Nelson said in his book he was crystal clear. He said if you implement this properly, you will end up with more death benefit than you could ever get past the underwriters at an insurance company. When you leave here today, the enthusiasm of this day is going to dry up. Oh it will. That's a fact. And so who is in a position of total and absolute control to take action today?

You.

When my journey first started In July of 2008, there were no seminars to go to, there were no family banking summits to go to. I had to get on airplanes and fly all over North America to find people who have been practicing this process who would be willing to spend time with me. Not one of them said no, but every one of them demanded payment. Thousands of dollars. I went and spent three days with one of my mentors. $8,000 to learn. I made that decision. I invested in myself to do that. You can take action. You can text 780-809-4599 so take action. If you're already an existing client, create a time with your advisor. Talk about, explore ways that you can expand your program. If you're new and you're ready to go, what are you waiting for? The longer you wait, the more you penalize yourself.

Get that appointment scheduled. I promise you you will be glad that you did that?

Isn't that good?

So you got a Text Schedule at 780-809-4599 and the text should pop up immediately with a calendar and you have to book whatever day is easiest for you.

About a year ago almost my husband passed away and the Ascendant team was there for me. They may not think they did much, but to me they did a lot. What I heard was Cecil take time to grieve. And I'm sure I had heard that from people, but it just resonated so much and I really, really thank you. They were just, every time I'd phone, they were just so gracious on the phone and just ready to help in whichever way. You know, the accounts were there. Taking care of my husband's business or advice or whatnot. I'm living proof of the team was there and they were extremely helpful. Thank you.

We're very humbled. Thank you. Thank you for giving us the opportunity to be there in a time of your life where you needed us to be there. And.

We'Re very humbled.

I was wondering if there's any IBC participating companies in England as well.

Not that I'm aware of. So this is interesting. Three times is a revolution. So I've heard the question twice now and I'm not going to wait for a third time. We'll find out. Ophelia, I will follow up with you on that. You've got my word. Maybe there needs to be a Life Eva in England. What do you think, Rich?

Sounds good. That's the name of the company in the United States. There's already an ascendant financial in the United States. And so the name of the company in the US is Life Eva. And there's actually what's really interesting and credit to my brother in law Chris, because he came up with this. So we were sitting down having a conversation about the name of the business and Chris said, I really like that name. And he said, you know what? You know what would be really cool? I said what? He said, when you build the marketing in the US to launch the company, you should have an Elvis impersonator do a commercial and the Elvis impersonator should go vivo la feeble.

You like that? Really excited about that. How many of you.

Have read the first book in the wealth without Bay street series? Okay, show of hands. That's good. And make sure that you get your hands on this because we've got a quarterly book coming out. So once every 90 days we will have a subscription model to that as soon as Moses launches it, and you'll be able to subscribe to it and you'll get a book delivered. It'll show up right in your mailbox every 90 days like clockwork. This really is what one of the big drivers of what led us to want to operate in the United States outside of just knowing that the marketplace needs what we're talking about. And there's a lot of people talking about it, but they're not talking about it properly. Thank God. We have a number of great colleagues across the border, but there are a lot of bad actors, too. And so this book, the Wealth Without Bay street series, is going to be amazing. Make sure that you subscribe to it when that option is available. The podcast itself, we've been getting an ever increasing number of Americans that have been reaching out saying, who do we go to for help? And so we don't need that many market signals to say this is what we need to be doing. So what you may see in the future is you may see a bit of a brand over, so that it's more North America based.