The ability to help our clients gain financial security and control over their lives is important to us. Why? Well it is a testament to our own financial experiences and story.
Company co-founders and husband and wife team, Stephen Devlin (President) and Michele Platje-Devlin (CEO) have experienced financial set-backs as self-made entrepreneurs. They struggled for years to create the prosperity they dreamed of while relying on the same old traditional methods of financial management that never led to achieving the lifestyle they wanted. You’ve heard the famous saying. “The definition of insanity is to do the same thing over and over again and expect different results.” That’s their story.
When they self-financed a new children’s directory publishing venture that looked promising and had the makings of a great opportunity, within a little less than two years they quickly found themselves more than $500,000 in the red and counting. Facing financial stress, they simultaneously experienced many personal setbacks that added to their difficulties.
They were turned away from the banks that had offered them so much credit as entrepreneurs in the financially prosperous times, but now refused to assist them in their time of greatest financial need. Bankruptcy was a word that loomed in their vocabulary.
It was an American friend and mentor who counseled them on a debt-elimination strategies and introduced them to Bank on Yourself™ founded by Pamela Yellen in 2002, opening up the door to new financial possibilities. Bank on Yourself™ and the Infinite Banking™ concepts are both innovative and non-traditional approaches to money management. Both concepts use a specific type of life insurance called “participating whole life insurance” as a way to build a “liquid cash reserve” while protecting your estate and loved ones in the future. Even more, both concepts taught Stephen and Michele they could actually become their own personal bank and save money by recapturing much of the interest they paid to banks and financing companies.
“I hadn’t realized how interest worked before. I had no idea how much money needlessly left my hands every single day. I thought money in the bank earned me more money, but I learned this was far from the case. Money sitting in the bank is bankruptcy on a payment plan. As inflation increased and my interest stagnated, I was losing money—our money. We were paying interest on everything.” - Stephen Devlin
What Stephen and Michele learned about traditional financial management and the banking system was eye-opening and life-changing. The Bank of Yourself™ concept steered them down a new financial path towards financial freedom and their desired lifestyle.
"Bank on Yourself helped us escape our dire financial situation and build wealth again, but at the time with an epiphany about just how oblivious we had been to the hands reaching into our pockets all along. No more would my worthiness be held in judgment by banks, nor would my hard-earned money finance their investments instead of my own." - Stephen Devlin
They both became passionate about Bank on Yourself™ and the Infinite Banking™ concepts they wanted to share them with family, friends and eventually bring them to the Canadian market. This philosophy challenged them to commit themselves to a career change, a road that first took Stephen from an independent life insurance agent to actually creating an Associate General Agency (AGA) with Michele which is the present day incarnation of the MacDev Financial Group. Today, Stephen and Michele aim to help friends, families and other businesses rethink their current financial situation and learn an entirely new perspective that enables them to create the Life.Wealth.Legacy they can only imagine.
To learn more about Michele and Stephen’s financial journey and how they used the Bank on Yourself™ concept to get out of debt and create their dream lifestyle, download your free chapter “My Canadian Bank on Yourself Story” written by Stephen Devlin from the book The Secret to Lifetime Financial (on the right side of page) and check out our About Us video section.