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In this episode of the 9inngs Podcast, host Kevin Thompson interviews Manish Khatta from Potomac about transition to becoming a Registered Investment Advisor (RIA). They explore the pros and cons of moving from a broker-dealer to an RIA, emphasizing the importance of self-awareness in making this decision. Manish shares insights from his experience, noting that not all advisors want to be business owners; many prefer focusing solely on advising clients. They also discuss the financial implications, infrastructure needs, and emotional challenges of running an RIA, stressing the significance of understanding one's value proposition.
The Role of Arrogance (00:02:11)
Understanding RIA Benefits (00:06:05)
Cost of Ownership (00:09:27)
Payout Changes in the Industry (00:12:29)
Scaling Advisory Services (00:15:59)
Concerns in Going Independent (00:19:23)
Revenue Generation Focus (00:22:19)
Tech Integration Challenges (00:25:06)
Potomac's Growth Story (00:30:11)
Business Aspirations (00:34:26)
Social Media Caution (00:37:11)
Podcast Conclusion and Reflection (00:38:08)
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In this podcast episode, Kevin Thompson, founder and CEO of 9i Capital Group, emphasizes the importance of a tax-savvy financial plan for business owners. He discusses how many owners miss out on tax benefits due to uncoordinated strategies. Kevin highlights key benefits of effective tax planning, such as minimizing tax liability, freeing up cash flow, preparing for unexpected expenses, and facilitating retirement.
He shares personal experiences and advises on choosing the right business structure, maximizing deductions, and managing cash flow. Kevin encourages proactive, year-round collaboration with financial advisors and tax professionals to optimize financial strategies.
Choosing the Right Business Entity (00:02:10) Explains how selecting the correct business structure can save money on taxes.
Unique Tax Challenges for Business Owners (00:03:29) Highlights the unique tax challenges business owners face, including estimated taxes and compliance issues.
What a Tax Savvy Financial Plan Can Do (00:04:49) Describes the benefits of a tax-savvy financial plan, including minimizing tax liability and freeing up cash flow.
Top Tax Challenges (00:05:34) Discusses common tax challenges such as choosing the right structure and maximizing deductions.
Cash Flow Management and Tax Payments (00:07:21) Emphasizes the importance of understanding tax liabilities and making proper quarterly payments.
Common Misconceptions (00:10:48) Debunks myths about when advisors and tax professionals should be involved in financial planning.
Actionable Tips for Business Owners (00:12:04) Provides practical advice for business owners on tax planning and working with professionals.
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In this episode, Kevin Thompson, CEO of 9i Capital Group, sits down with financial expert Andy Panko, CFP®, RICP®, EA, to unpack the concept of infinite banking. They dive into how whole life insurance policies can serve as a vehicle allowing policyholders to borrow against their cash value.
The conversation highlights:
The mechanics and "myths" of infinite bankingKey differences between whole life and universal life insuranceAssociated risks and misconceptionsTogether, they stress the importance of understanding these products, seeking professional advice, and debunking the oversimplified “bank on yourself” narrative often used to market this strategy. This episode provides a clear-eyed perspective on the complexities and potential pitfalls of infinite banking.
Infinite Banking Overview (00:02:14) Discussion on the concept of infinite banking and the use of whole life insurance policies.
Understanding Borrowing Against Policies (00:05:51) Kevin questions the nature of borrowing against a policy and the role of the insurance company.
Misconceptions About Banking (00:07:41) Andy discusses the misleading concept of "banking on yourself" in relation to insurance policies.
Complexities of Policy Borrowing (00:09:07) Kevin highlights misconceptions about immediate access to cash values in life insurance policies.
Interest Rates and Policy Loans (00:10:45) Andy explains the implications of borrowing against a policy and the importance of repayment.
The Need for Education in Insurance (00:12:19) Discussion on the lack of education in the insurance industry regarding policy complexities.
Who Should Use Infinite Banking? (00:16:00) Andy outlines the ideal candidates for infinite banking strategies based on financial sophistication.
Comparing Banking Options (00:18:04) Kevin questions the rationale behind choosing life insurance over traditional banking for loans.
Timeframe for Infinite Banking Success (19:39) Andy mentions it may take 20-25 years for an individual to effectively build an infinite banking system.
Comparison with Traditional Banking (20:41) They highlight the differences between infinite banking and traditional bank borrowing, emphasizing the long-term nature of the former.
Whole Life vs. Universal Life Insurance (23:26) Andy explains the stability of whole life insurance compared to the variability of universal life insurance.
Misrepresentation of Insurance Products (25:05) Andy critiques how insurance products are often misrepresented, leading to misunderstanding and misuse by consumers.
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Website: http://www.9icapitalgroup.com
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In this episode of the 9 Innings Podcast, Kevin Thompson, founder and CEO of 9i Capital Group, explores the potential impacts of Donald Trump's presidency on small businesses. He dives into key areas such as tax policies, deregulation, workforce dynamics, and trade tariffs. Kevin highlights the importance of staying informed about political changes, understanding tax cuts, deregulation, adapting to workforce shifts, and managing trade tariffs. He offers practical tips for small business owners to build financial resilience and leverage opportunities. Kevin encourages listeners to engage with his content and stay proactive in a changing economic landscape.
Tax Policies Overview (00:01:12)
Potential Tax Scenarios (00:02:33)
Deregulation and Its Effects (00:03:45)
Industry-Specific Deregulation Risks (00:06:13)
Trade Tariffs Impact (00:10:02)
Practical Tips for Small Business Owners (00:11:21)
Conclusion and Future Considerations (00:13:47)
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Website: http://www.9icapitalgroup.com
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In this podcast episode, Kevin Thompson, founder and CEO of 9i Capital group LLC, digs into the bond market, focusing on "bond vigilantes," interest rates, and the housing market. He clarifies that while the Federal Reserve can influence short-term rates, it has limited control over long-term rates, which are driven by market dynamics. Kevin discusses the impact of higher interest rates on homeownership, noting the challenges potential homeowners face due to elevated mortgage rates and high home prices. The episode aims to educate listeners on these financial topics and provide insights into the broader economic environment.
The Bond Market Overview (00:01:08)
Federal Reserve vs. Long-Term Rates (00:02:25)
The Era of Low Long-Term Rates (00:03:21)
Legacy of Artificially Low Rates (00:04:40)
Current Housing Market Realities (00:06:45)
Key Takeaways (00:09:23)
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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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In the 100th episode of the 9innings podcast, host Kevin Thompson, founder and CEO of 9i Capital Group, celebrates this milestone by reflecting on the journey and engaging with notable guests. Josh Brown, CEO of Ritholtz Wealth Management, discusses the impact of AI and consolidation in the financial advisory industry. David Kinder delves into fiduciary standards and Regulation Best Interest (RBI) in the insurance sector, highlighting the industry's resistance to fiduciary obligations. Tyrone Ross Jr., CEO of Turnkey Labs, emphasizes the importance of understanding cryptocurrency in financial planning. Bethany Mclean talks about healthcare disparities and how Covid-19 exposed our healthcare system. This episode underscores themes of autonomy, ethical standards, and continuous education.
Discussion with Josh Brown (00:01:01).
Consolidation in the RIA Industry (00:04:41)
The Fiduciary Myth with David Kinder (00:10:36).
Tyrone Ross Jr. on Crypto (00:18:16)
Impact of Wealth Disparity in Politics with Matt k Lewis (00:24:14)
Healthcare Inequality Exposed by COVID-19 with bethany McLean (00:29:12)
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In this episode of the "9innings Podcast," host Kevin Thompson, founder and CEO of 9i Capital Group, converses with Bethany McLean, author of "The Big Fail: How the Pandemic Revealed What America Protects and Who It Leaves Behind." They discuss the systemic failures exposed by the COVID-19 pandemic, focusing on healthcare disparities and the detrimental impact of private equity on the industry. McLean highlights the inadequacies in pandemic preparedness and the inequities faced by marginalized communities. The episode calls for a reevaluation of healthcare policies to prioritize equitable care and address the systemic issues revealed by the pandemic.
Pandemic Preparedness Discussion (00:02:10)
Nuanced Take on Pandemic Preparedness (00:03:10)
Administration Trust Issues (00:05:05)
Healthcare Inequality (00:08:01)
Consequences of Hospital Resource Disparities (00:10:21)
Capitalism vs. Healthcare (00:12:41)
Individualism in Healthcare Attitudes (00:14:02)
Private Equity's Impact on Healthcare (00:17:46)
Government's Role in Business (00:19:39)
Short-Term vs. Long-Term Capitalism (00:23:56)
Flaws in the Healthcare System (00:27:05)
Funding Community Hospitals (00:30:57)
Reflection on Pandemic Lessons (00:32:17)
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In this episode of the 9innings Podcast, host Kevin Thompson, founder and CEO of 9i Capital Group, discusses the groundbreaking Future Proof event with guest Matt Middleton. Kevin praises the event's transformative impact on the financial services industry, highlighting its vibrant atmosphere and innovative networking opportunities. Matt shares insights on the event's success, noting a significant increase in attendance and the importance of fostering a collaborative environment. They discuss the event's no pay-to-play model, which promotes inclusivity and diverse voices. The episode underscores Future Proof's role in creating meaningful connections and setting a new standard for industry gatherings.
Attendee Experience (00:02:00)
Networking Philosophy (00:05:22)
Future Proof's Unique Model (00:12:12)
Personal Reflections (00:15:16)
Introduction and Personal Reflection (00:17:18)
Community Building Insights (00:17:51)
Future Proof Citywide Announcement (00:18:44)
Event Structure and Partnerships (00:20:16) .
Data and Research Initiatives (00:21:13)
Closing Remarks and Event Success (00:22:01)
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In this podcast episode, I, Kevin Thompson, founder and CEO of 9i Capital Group LLC, discuss the Federal Reserve's recent 50 basis point interest rate cut. I explain the reasons behind the cut, including concerns about a slowing economy and employment sector. I explore the impact on various sectors like fixed income, equities, and real estate, and advise listeners on how to adjust their portfolios accordingly. I also address the implications for borrowing costs and inflation. Emphasizing the importance of understanding these changes, I encourage listeners to reassess their financial strategies and reach out for further assistance.
Impact on Employment Sector (00:02:27)
Understanding the Rate Cut (00:03:27)
Market Reactions to the Rate Cut (00:04:39)
Inflation and Its Effects (00:05:27)
Fixed Income and Bond Markets (00:07:51)
Equity Market Implications (00:09:06)
Real Estate Market Effects (00:10:17)
Market Impact and the Dollar (00:12:40)
Conclusion and Portfolio Positioning (00:13:53)
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In this episode of the "9innings Podcast," Kevin Thompson, founder and CEO of 9i Capital Group, discusses the evolving regulatory landscape in the financial services industry with Tracy Lownsberry, owner of Up North Retirement. We delve into the implications of Regulation Best Interest (RBI) and the fiduciary standard, examining the shift from commission-based to fee-based models and the complexities of financial advisory titles.
The conversation highlights the need for transparency, standardized commission structures, and continuous education to better serve consumers. Tracy advocates for clearer regulations and accountability in the insurance industry to enhance consumer protection and advisor competence.
Regulation Best Interest Overview (00:02:12) ..
Personal Experience with Regulation (00:04:20)
Regulation of Financial Titles (00:07:26)
Disclosure Issues in Commissions (00:10:10)
Disclosing Commissions from Top to Bottom (00:14:11)
Impact of Regulation on Compensation (00:19:27)
Fiduciary Standard Debate (00:20:38)
The Need for a Fiduciary Standard (00:25:00)
Regulatory Challenges in the Industry (00:26:44)
Superiority Complex in Financial Services (00:28:06)
Future Vision for the Insurance Industry (00:30:27)
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In this episode of the "9innings Podcast" we discuss the Disruption Blueprint. Kevin Thompson, CEO of 9i Capital Group LLC, and Shannon Spotswood, the CEO of RFG Advisory, discuss the evolving Registered Investment Advisor (RIA) industry. They explore themes of disruption, innovation, and the impact of private equity. Shannon emphasizes the importance of helping independent advisors grow without compromise, leveraging technology, and maintaining strong client relationships. She shares insights on navigating industry challenges, the role of private equity, and the need for advisors to adapt and innovate. The episode concludes with optimism for the future of the RIA space.
Reflection on Career Journey (00:01:00)
Disruption in the RIA Industry (00:04:12)
Challenges in the RIA Space (00:06:43)
Private Equity Dynamics (00:10:39)
Concerns About Aggregation Models (00:12:05)
Competition and Unique Value (00:15:32)
RFG's Growth Services (00:19:05)
Future of the RIA Industry (00:26:17)
Generational Wealth Transfer (00:27:43)
Long-Term Vision for Advisors (00:28:39)
The Ascent vs. The Summit (00:33:44)
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In this podcast episode, Kevin Thompson, founder and CEO of 9i Capital Group, hosts a discussion with insurance specialist David Kinder, known as "the tax-exempt wealth guy." They explore the insurance industry's response to Regulation Best Interest (RBI), which mandates obligations like disclosure, care, conflict of interest, and compliance.
David critiques the industry's resistance to fiduciary responsibilities and highlights ethical concerns, particularly with Indexed Universal Life (IUL) insurance. The conversation emphasizes the need for higher practice standards, ethical conduct, and client education, advocating for a balanced approach to regulation that prioritizes consumer interests.
Discussion on Industry Division (00:01:37) .
Regulation Best Interest Overview (00:02:16)
Economic Implications for Agents (00:04:25)
Fiduciary vs. Suitability Standards (00:06:17)
Materiality of Compensation (00:11:25)
Suitability Perspective Critique (00:13:29)
Need for Professional Standards (00:15:36)
Insurance Companies' Priorities (00:19:11)
Insurance Lobby's Opposition to Regulation (00:24:18)
Fiduciary Responsibility (00:26:46)
Critique of Advisors' Recommendations (00:29:02)
Client Versus Company Interests (00:34:52)
Agent Responsibilities (00:36:57)
Industry Disdain and Perception (00:37:26)
Ambiguity in Titles (00:39:45)
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In this episode of the Nominees Podcast, host Kevin Thompson speaks with Matt Middleton, CEO and co-founder of Future Proof, a pioneering financial services festival.
They discuss the festival's inception post COVID-19 pandemic, its innovative approach to industry events, and the challenges faced in establishing it. Middleton emphasizes the importance of inclusivity, genuine connections, and diverse perspectives in the financial sector. Future Proof aims to break traditional event molds by fostering open dialogue and dynamic interactions. The conversation highlights the festival's mission to reshape the financial services landscape through authenticity and continuous innovation.
Inception of Future Proof (00:02:25)
Redefining Event Value (00:04:11)
Creating a Unique Festival Experience (00:06:08)
Encouraging Diverse Perspectives (00:09:01)
Challenges in Launching Future Proof (00:12:43)
Industry Adoption and Growth (00:15:30)
The Transformation of the Industry (00:17:57)
The Importance of Authenticity (00:20:32)
Creating an Inclusive Platform (00:22:24)
Content Creation Process (00:26:05)
The Concept of Future Proof (00:29:10)
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In this podcast episode, Kevin Thompson RICp®, CFP® discusses the insurance industry's opposition to the Regulation Best Interest (RBI) rule established by the SEC. He explains that the Reg BI rule mandates broker-dealers to act in the best interest of their retail customers, enhancing transparency and accountability in financial advising.
Kevin critiques the insurance lobby's resistance, highlighting concerns about increased regulatory burdens, potential sales reductions, and conflicts with state regulations. He advocates for a standardized fiduciary approach to ensure consumer protection and emphasizes ongoing engagement and support for clients.
Discussion on Best Interest Contract (00:01:13)
Overview of Regulation Best Interest (00:02:00)
Key Components of Regulation Best Interest (00:03:09)
Insurance Lobby's Opposition (00:04:48)
Impact on Commission-Based Models (00:07:58)
Lack of Clarity in Regulation (00:09:10)
Fiduciary Standard vs. Suitability Standard (00:10:25)
Ongoing Client Engagement (00:11:16)
Future Conversations on the Topic (00:12:17)
Conclusion and Call to Action (00:13:08)
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WELCOME TO THE 9Innings PODCAST...
In this episode of the "9inningsPodcast," Kevin Thompson, founder and CEO of 9i Capital Group, discusses the potential for a recession. He examines economic indicators, market reactions, and Federal Reserve actions, providing a comprehensive overview of the current economic landscape. Kevin explains the dual mandate of the Federal Reserve and the significance of the bond market, using the metaphor of "Betelgeuse" to illustrate how recession fears can become a self-fulfilling prophecy.
The episode aims to educate listeners on economic dynamics and the potential impact of Federal Reserve decisions on market stability.
Understanding Recession (00:02:08) Defines recession and discusses the technical aspects of GDP and employment trends.
Federal Reserve's Actions (00:03:24) Examines the Fed's dual mandate and recent interest rate hikes to stabilize prices.
Market Reactions (00:04:25) Discusses how an inverted yield curve signals expectations of a slowing economy.
Bond Market Dynamics (00:05:40) Analyzes current bond market behavior and shifts in investor strategies.
Federal Reserve's Challenges (00:07:58) Highlights the Fed's need to manage market volatility without political implications.
Impact of Media on Investor Behavior (00:09:09) Describes how media narratives influence investor spending and business decisions.
Economic Insights (00:10:28) Summarizes the implications of rising prices and unemployment on the economy.
Closing Thoughts (00:11:34) Speculates on recession likelihood, Fed actions, and the nature of market dynamics.
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In this episode of the "9innings Podcast," we broach the topic of "spoofing," a scam where fraudsters disguise their identity to deceive individuals into revealing personal information.
The episode provides insights into various spoofing methods, signs to watch for, and practical tips on protecting oneself from such scams, emphasizing the importance of education and vigilance. From Tiktok to Facebook, many individuals have fallen victim to spoofing, and we are here to provide context to what spoofing is, how to recognize it, and how to not fall victim to this fraud.
Understanding Spoofing (00:00:58) Definition of spoofing and how malicious parties disguise their identity.
A TikTok Story of a Spoofing Scam (00:02:50) A speaker shares her emotional experience with a spoofing scam involving Wells Fargo.
How Spoofing Works (00:04:29) Kevin explains the mechanics of caller ID spoofing and its prevalence.
Types of Spoofing (00:06:07) Overview of email, text message, and website spoofing techniques.
Why Spoofing is Effective (00:08:34) Discussion on trust factors and urgency that make spoofing successful.
Signs of Spoofing Scams (00:09:37) Common indicators that suggest a potential spoofing scam.
Protecting Against Spoofing (00:12:23) Advice on verifying sources and avoiding sharing personal information.
Steps to Take if Scammed (00:14:29) Recommended actions if you suspect you've been a victim of spoofing.
Recap and Final Advice (00:16:34) Summary of key points discussed and encouragement to stay vigilant.
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Corrections:
Editing by http://SwoleNerdProductions.com
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In this episode of the "9innings Podcast," host Kevin Thompson, founder and CEO of 9i Capital Group, discusses the decline of African American players in Major League Baseball (MLB). He highlights a significant drop from 19% in 1995 to 7% in 2023.
Kevin attributes this trend to several factors, including the lack of domestic academies in the U.S., insufficient representation and role models, economic barriers, competition from other sports, and socioeconomic challenges. He calls for increased investment in domestic academies and outreach programs to foster talent and ensure a more inclusive future for baseball.
Statistics Overview (00:01:00)
Lack of Domestic Academies (00:02:19)
Personal Reflection on Role Models (00:03:38)
Historical Context of Black Players (00:06:00)
Economic and Social Factors (00:08:14)
MLB Outreach Programs (00:09:18)
Impact of Legislation (00:10:24)
Current Efforts and Changes (00:11:28)
Representation and Visibility (00:12:32)
Recent Developments in Draft (00:13:44)
Economic Considerations (00:14:36)
Conclusion and Future Outlook (00:16:51)
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linekdin: https://www.linkedin.com/in/kevin-thompson-ricp%C2%AE-cfp%C2%AE-74964428/
X: https://x.com/MLB2CFP
facebook: https://www.facebook.com/MLB2CFP
Website: http://www.9icapitalgroup.com
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Corrections: Editing by http://SwoleNerdProductions.com
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