Richard Canfield
Leading Authority and Educator in the Infinite Banking Concept
Richard Canfield is a leading Canadian authority and educator on The Infinite Banking Concept (IBC), dedicated to empowering individuals and families to achieve financial control and build generational wealth.
As an Authorized Infinite Banking Practitioner via the Nelson Nash Institute®, he leverages his roles as a coach, bestselling author, and podcast co-host to deliver transformative financial strategies.
Operating from Chilliwack, BC, through Ascendant Financial, Canfield focuses on creating lasting financial well-being by helping clients gain autonomy and shift their relationship with money, moving away from conventional systems.
He specializes in adapting IBC for Canadians, providing clear, practical guidance tailored to their unique context, making him a key resource for financial independence in Canada.
His approach is deeply influenced by his relationship with R. Nelson Nash, the pioneer and creator of IBC.
Foundations in Finance: From Practical Skills to Strategic Wealth-Building
Canfield’s path to IBC began with an early aptitude for finance, known as ‘The bank’ in his family at a young age. Richard always seemed to be saving and having cash on hand. He often lent money to family for short periods, but did not yet understand the concept of interest. It wasn’t until age 18 when he was buying his second rental property that he began to see the power of compound interest.
He discovered it by running an amortization on the mortgage for this new rental condo in Edmonton, Alberta. After seeing how much interest went to the bank in the first year, it was an eye opener about who really owned the asset!
His background includes becoming a Journeyman Electrician, leading crews, and honing discipline. He studied at the Northern Alberta Institute of Technology. He gained practical experience in real estate investing, managing financing, and cash flow for multiple properties. Later in 2008, after realizing he could not truly help people as an electrician, he forged ahead as a licensed Realtor in Edmonton, Alberta, to help first-time investors acquire their first property.
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This foundation in tangible skills and assets fostered a preference for understandable, controllable financial strategies like IBC. The turning point came in August 2009 when introduced to R. Nelson Nash’s book, “Becoming Your Own Banker,” by colleague Jayson Lowe. Canfield recalls feeling initial anger that such effective wisdom wasn’t widely known, contrasting it with less valuable seminars. This realization ignited his passion for mastering and teaching IBC, driven by a desire to democratize access to financial control.
Mentored by the Master: A Defining Relationship with R. Nelson Nash
Canfield’s authority is significantly shaped by his close mentorship with IBC founder R. Nelson Nash, whom he met in February 2012 and considered a dear friend until Nash’s passing in March 2019.
He cherishes the significant time spent learning directly from Nash.
Nash himself provided a powerful endorsement, stating:
“Anyone learning the secrets of Infinite Banking from Richard Canfield is in very good hands. Richard understands this system as well as or better than anyone I’ve ever taught. And just as importantly, he’s a genius at teaching it to others… don’t let it pass you by.” – R. Nelson Nash.
This exceptional validation from the concept’s creator designates Canfield as a master-level expert and educator, entrusted with the integrity of IBC principles.
Canfield was among the first authorized practitioners globally (the 11th) by the Nelson Nash Institute® and recognized as one of Nash’s ‘star students’.
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Richard further honored Nash’s legacy by his involvement in helping to create the documentary “This is Nelson Nash” in 2017 with his friend Jayson Lowe, in an attempt to preserve Nash’s message. The film was produced and is owned by the Nelson Nash Institute and is available to watch on the Nelson Nash Institute YouTube channel.
The film has garnered significant viewership, reinforcing Canfield’s commitment. He recommends that everyone who chooses to implement the concept, especially his clients, take one hour to watch this inspirational film.
His active involvement continues through the Nelson Nash Institute (NNI) as a Mentor, frequent speaker, and event Master of Ceremonies for the annual Think Tank conference. In 2024, Richard and the other members of the Inaugural Practitioner Council developed and began delivering the NNI Coaching Academy program. This 2-day event gets to the core of training existing and future NNI Practitioners and students on how to properly focus on Nelson’s message, stay true to his vision, and become proficient at guiding clients how to succeed with this life-changing process.
Empowering Financial Control: Core Philosophy and Teaching Approach
Canfield’s philosophy centers on the idea that financial well-being depends on WHO controls the banking function in your life. We all require the act of banking, but Canfield is firm that you need to be the one who controls it during your lifetime.
IBC is the process of ‘becoming your own banker’. It is something that you do, not an investment or product you purchase.
He emphasizes mindset, in the way Nelson Nash taught him, believing ‘everything begins with how you think,’ guiding clients to reframe perspectives on money and adopt an affluent, proactive approach.
Education is key; Canfield teaches clients how to implement IBC effectively, using relatable analogies (like comparing financial tools to chainsaws or stressing the right tools for the job) to make complex ideas accessible.
His practical focus is on optimizing cash flow and controlling capital.
He also focuses on correctly structuring participating whole life insurance policies for maximum benefit while ensuring that his clients have a deep level of knowledge to effectively use the tool Nelson Nash identified as the best to get the job done.
This includes uninterrupted growth and tax-advantaged access.
He reframes premiums not as expenses, but as solutions and asset-building tools.
A core passion is creating generational wealth, teaching families financial continuity and stewardship.
He seeks transformational change, working with clients committed to actively engaging, learning, and mastering their financial destiny, specifically within the Canadian financial context.
A Recognized Voice: Authorship, Podcasting, and Educational Outreach
Richard Canfield has built significant influence through multiple platforms.
He co-authored the USA Today Featured Bestseller “Don’t Spread the Wealth” as well as the Amazon Bestseller “Cash Follows the Leader“, “Keep Taxes Away From Your Wealth”, and “Canadians Guide To Wealth Building Without Risk”.
He co-hosts the popular “Wealth On Main Street” podcast (formerly known as Wealth Without Bay Street), a key Canadian resource for IBC insights.
His expertise is further amplified through numerous guest appearances on podcasts covering finance, real estate, and entrepreneurship, reaching diverse audiences and gaining third-party validation.
Canfield maintains a strong online presence via Ascendant Financial, LinkedIn, Muck Rack, YouTube, Podchaser, Apple Podcasts, and About.me, consistently sharing IBC knowledge across various formats.
Guest Appearances on Leading Podcasts
Leadership and Influence within the IBC Community
Canfield holds significant roles within the official IBC community sanctioned by the Nelson Nash Institute (NNI).
Authorized as the 11th practitioner worldwide in 2013, he now serves as an NNI Practitioner Council Member, helping to see the vision of the NNI as they forge ahead to spread Nelson’s concept. He also acts as a Mentor for fellow NNI-authorized practitioners, guiding peers and upholding practice standards.
His consistent engagement includes speaking at and serving as Master of Ceremonies for NNI Annual Think Tank events.
At Ascendant Financial, he holds roles including Advisor and Content Development, and Podcast Co-Host.
These activities solidify his status as a central, respected figure contributing to the vitality and integrity of the IBC movement.
Evidence of Impact: Client Success and Industry Recognition
Canfield’s effectiveness is validated by client testimonials praising his integrity and the tangible results achieved, such as accelerated financial goals, debt elimination, and peace of mind.
One client noted learning more from Canfield in 5 hours than from any other source.
This client’s success aligns with the ultimate endorsement from R. Nelson Nash, who lauded Canfield’s deep understanding and teaching genius.
His authority is further supported by verifiable achievements, including USA Today and Amazon Bestseller statuses.
Peer recognition comes through his NNI Council and Mentorship roles, early authorization, speaking engagements, podcast appearances, and his role in the Nash documentary.
Richard Canfield - Key Achievements & Recognition
| Category | Achievement/Role | Significance/Source |
|---|---|---|
| Authorization | Authorized IBC Practitioner (11th Worldwide) | Early adopter, NNI recognized |
| Authorship | Co-Author, "Don't Spread the Wealth" | USA Today Featured Bestseller |
| Authorship | Author, "Cash Follows the Leader" | Amazon Bestseller |
| Podcasting | Co-Host, Wealth Without Bay Street | Leading Canadian IBC Podcast |
| Leadership | Practitioner Council Member, NNI | Formal leadership in the official IBC org |
| Mentorship | Mentor to NNI Authorized IBC Practitioners | Guiding peers in the official community |
| Endorsement | Explicitly Endorsed by R. Nelson Nash | Highest validation from the IBC Founder |
| Documentary | Key Contributor, "This is Nelson Nash" Film | Preservation of the IBC legacy |
This blend of client success, founder endorsement, public achievements, and peer recognition provides compelling proof of Canfield’s impact and authority in the Infinite Banking Concept field.