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

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

In this podcast episode, Kevin Thompson, founder and CEO of 9i Capital Group, and Tobias Salinger, chief correspondent at Financial Planning at Arizent, explore pressing issues in the financial industry. They discuss the importance of succession planning, the need to increase diversity and improve talent acquisition, and the challenges faced by newcomers. The conversation also covers the Leaders Forum event, which will address the evolving concept of financial advisor independence, and the impact of discrimination on career progression within the industry.

Leaders Forum event (00:01:59)

Succession planning challenges (00:05:12)

Apprenticeship opportunities (00:11:14)

Discrimination cases in the industry (00:15:45)

Challenges in the Financial Industry (00:19:24)

Mentorship and Career Development (00:22:40)

Upcoming Live Discussion Event (00:26:49)

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(y)-https://www.youtube.com/channel/UCw9yLfTDBAprrLWvmcT6fFA

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(X)-https://twitter.com/9ICapGroup/status/1624034073361502212

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

ON THIS WEEKS PODCAST: Kevin Thompson explores the intricacies of financial advisor compensation, highlighting potential conflicts of interest and various payment structures. The focus is on educating both advisors and clients about the significance of transparent compensation practices and ensuring advisors act in the best interest of their clients. The episode serves as a guide to better understand the financial advisor-client relationship and the impact of compensation on advisory services.

Understanding Conflicts of Interest (00:01:24) -Explanation of conflicts of interest in the advisory world and how they can manifest in various ways, including compensation structures and product sales.

Types of Financial Advisors (00:04:36) -Discussion of commission-based, fee-based, and fee-only advisors, including their compensation models and potential conflicts of interest.

The Client's Best Interest (00:11:13)-Examination of fee-only advisors, their advantages, and the reduced conflicts of interest, along with the concept of acting in the client's best interest.

Key Aspects of the Client's Best Interest (00:16:30)- Explanation of fiduciary duty, disclosures, suitability, and continuous monitoring as crucial components of acting in the client's best interest.

Evaluating the Value of Financial Advisors (00:18:35)- Emphasis on assessing the level of service received, understanding the true cost, and determining if the services align with the client's needs and expectations.