Some conversations go beyond money; they touch faith, family, and legacy. In this episode, Jayson and Richard sat down with Nate Scott and Holly Reed to reflect on the story of Living Wealth, the company their father, Raymond Poteet, founded in 1972. What began as a life insurance agency grew into a mission to help families break free from financial slavery through the Infinite Banking Concept (IBC)
From Life Insurance to Infinite Banking
Living Wealth started with a simple commitment: serve people with integrity and faith. For years, Ray built a successful insurance practice. Then, a mentor’s passing changed everything. On his desk, Ray found R. Nelson Nash’s Becoming Your Own Banker. He picked it up, read it cover to cover, and immediately saw a bigger mission.
Ray even called Nelson directly back then; his number was printed in the book, and within a day, Ray was attending an IBC event in Kansas City. From that moment, he followed Nelson across the country for nine months, learning the process inside out.
As Holly shared:
“It wasn’t about money anymore. It was about breaking financial slavery for parents, families, and individuals and teaching them how to pass on a legacy.”
The Presence of Ray Poteet
Ray’s gift wasn’t just in teaching; it was in being fully present. Whether mentoring a millionaire business owner or a missionary struggling to make ends meet, Ray gave the same focus and care.
Nate recalled:
“He wasn’t a respecter of persons. Whoever he was with, he gave 100% of his attention. That’s what made him different.”
Ray’s biggest success story wasn’t measured in numbers, but in people, like helping a prison pastor adopt his grandchildren after tragedy struck. For Ray, that was real wealth.
Living Wealth Joins Ascendant
In 2025, Living Wealth joined Ascendant Financial. This wasn’t about replacement but continuation, carrying Ray’s mission forward.
Holly explained the decision:
“My dad respected Jayson. He trusted him. Ascendant is a family business too, built on the same values. For us, it was about carrying the legacy, not letting it end.”
Nate agreed:
“If Ray were here, he’d be full steam ahead. He would’ve said, ‘Whatever’s best for clients, let’s go.’”
The Infinite Banking Lightbulb
Many people misunderstand IBC as just buying a policy. In truth, it’s a process. It’s about control, building equity without interruption, recapturing interest that would otherwise leave the family, and creating a family banking system.
Ray used to say, “The wealthy don’t tell their kids to grow up and move out to start over. They say: add to the family system, keep the money in the family, and build it bigger for the next generation.”
Legacy in Action
Today, Ascendant Financial carries forward the Living Wealth legacy, mentoring families and helping them build financial freedom through Infinite Banking.
For Nate and Holly, their father’s influence is still alive. When asked what she would say if Ray were here, Holly’s response was simple:
“Thank you. You changed our family, and you changed families everywhere.”
Want to build your own Family Banking System?
Start by reading Nelson Nash’s Becoming Your Own Banker and connect with Ascendant Financial to see how Infinite Banking can transform your family’s future.