Board of Directors

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David Stearns

David Stearns joined Nelson in June 2004 after retiring from the U.S. Army as a Lieutenant Colonel. David served 27 years in the Army, first as a field artillery officer, then as an Army aviator. As with all military officers, he had a variety of assignments including command, operations, safety, and systems analysis/operations research. David served throughout the Continental U.S. and world-wide with a long tour in Egypt and multiple deployments to Germany, Korea, and Kuwait.

David is the President of Infinite Banking Concepts LLC which controls the distribution of Becoming Your Own Banker and Infinite Banking Concept materials, copyrights and trademarks. IBC LLC manages the administrative activities of the Nelson Nash Institute.

David graduated from Buffalo State College in 1975, and received a Masters of Public Administration from Auburn University, Montgomery in 1992.

He has been married to Kimberly Stearns since 1979. They live in Birmingham, Alabama and have four children and six grandchildren.


L. Carlos Lara

L. Carlos Lara is President of United Services and Trust Corporation headquartered in Nashville, Tennessee since 1976. United Services and Trust is a consulting firm specializing in corporate trust services, business consulting and debtor-creditor relations. The firm’s primary services are capital formation and business reorganizations.

Lara has held all the required licenses as a Registered Broker-Dealer and member of the National Association of Securities Dealers (NASD). His background makes him a regular speaker at credit management symposiums and conferences. During the 1980s he taught classes on credit management to credit executives seeking the ABCE accreditation, now the Certified Credit Executive (C.C.E.), for the National Association of Credit Management (NACM).

He is a passionate advocate of Austrian Economics and frequently writes and speaks on the subject. In 2010 he co-authored How Privatized Banking Really Works with economist Robert P. Murphy. Together they publish the Lara-Murphy Report, a special on-line economic research and reporting newsletter for financial professionals.


Dr. Robert P. Murphy

Robert P. Murphy is a Research Assistant Professor with the Free Market Institute at Texas Tech. He has a PhD in economics from New York University. After teaching for three years at Hillsdale College, Murphy left academia for the financial sector, where he worked on portfolio management and economic research at Laffer Associates. Murphy now is president of Consulting By RPM, and runs the popular economics blog “Free Advice” at

Murphy has testified before Congress, and has given numerous interviews on TV and radio. He is the author of hundreds of articles and several books on economic topics aimed at the layperson, including The Politically Incorrect Guide to Capitalism (Regnery 2007), How Privatized Banking Really Works (2010 with Carlos Lara), and Lessons for the Young Economist (Mises Institute 2010). Murphy is a Research Fellow at the Independent Institute, and is the Senior Economist for the Institute for Energy Research, where he specializes in the economics of climate change. You can find out more at


R. Nelson Nash (1931-2019)

Nelson Nash is the discoverer and developer of The Infinite Banking Concept™ and the author of Becoming Your Own Banker. Nash remains a popular teacher and lecturer on the Infinite Banking Concept™ through dividend-paying whole life insurance.

A native of Georgia, Nash received a B.S. Degree in Forestry from the University of Georgia, 1952. From 1954-1963, Nash worked as a Consulting Forester in eastern North Carolina.

During more than 35 years experience as a Life Insurance Agent, Nash worked with The Equitable Life Assurance Society of the U.S. and with The Guardian. Recognized for his high achievements, Nash was inducted as a Hall of Fame Member by Equitable, a Chartered Life Underwriter, and Life Member of the Million Dollar Round Table.

A pilot for 60 years, Nash flew with the Army National Guard, and earned Master Aviator Wings during his 30 years of military service.

He has been married to Mary W. Nash for more than 65 years. The couple live in Birmingham, Alabama and have three children, ten grandchildren and six great-grandchildren.