About Michael Hobbs
Michael Hobbs, President and Chief Operating Officer at Independent, has been active across multiple sectors, including financial technology, environmental advocacy, and industry leadership. In a 2022 interview, Hobbs advised against contributing to a 401(k) beyond the employer match, arguing that future tax increases could make such accounts disadvantageous. He stated that "401ks made sense when tax rates were coming down" but that "taxes are going to have to go up," and recommended instead putting additional savings into cash value life insurance for tax-free income in retirement. He described 401(k)s and IRAs as "going to be like chains around people's necks."
Hobbs has also spoken about his experience as a former chairman of the AIM/R board, where he served 12 years, calling it "a rewarding experience" and an opportunity to "give back and to hopefully drive the industry forward." In a 2018 presentation, he introduced his venture Flow Fintech, which aimed to reduce payment processing costs for retailers by linking payments to loyalty schemes, with a goal of building a virtual bank. Earlier, in a 2013 TEDx talk, Hobbs discussed his transition from environmental protester to stakeholder, advocating for engagement across sectors to address sustainability challenges. He said, "I'm not saying of course that we should stop protesting, but I am saying that at the same time and maybe more of a measure, we need to be engaging as well."
Source: AI-verified profile updated from Michael Hobbs's recent appearances.
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Transcript (7 segments)
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Interviewer0:20
Hey everyone, here at the Swan Hotel in Orlando, we just finished up the 2019 AIM our annual conference. This is Michael Hobbs, he is the president of car company and he just finished his term as chairman. As a mark, Michael, you've spent a lot of years going through the chairs, leading in different capacities. Talk a little about that experience.
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Michael Hobbs0:40
Sure. It's about 12 years on the board and six on the XCOM, which is our Executive Committee. It's been such a rewarding experience. You know, this industry's been great to my family, the world has been great to my family, so it's given me an opportunity to give back and to hopefully drive the industry forward. And I think I have left it in good hands with good caretakers, so I'm excited about the next group that's coming up.
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Interviewer1:03
Awesome, and really interesting. Thank you.
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Michael Hobbs1:12
I'm taking about Blanton's Bourbon home, so I guess I've talked about my bourbon. Very appreciative, and it's a really nice haven't joined a Mar haven't been to a conference.
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Interviewer1:34
Yeah, just give it your pitch on John.
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Michael Hobbs1:41
I think the conference comes down to really two important aspects. One is networking. I mean, we've got so many smart people here and so many good folks that the opportunity to network with them and learn from them and bond with them, I think is invaluable. The second is our educational content. Especially this year, I thought Charlie did a great job putting together strong content. The nice thing about it is it's rep specific, so not only is it great to learn how to run a company and manage your people, but also it's specific to reps and how to run a residency. So between the networking and the content, I just think it's a great opportunity to improve yourself in your agency.
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Interviewer2:16
It is a fantastic group. I have this having company Arbor 1997, I think I've joined you. Although it's a great group, come out and see what you're missing. The AIM our social media pages, LinkedIn and Facebook, are going to have all kinds of videos and wrap ups from this week, so please make sure and check them out.
