Upcoming Event!How Can Mindfulness Give You a More Abundant Retirement?Are you ready to let go of anxiety and find the peace of mind you seek as you prepare for your golden years? Your Answer Lies in These 5 Critical Retirement Questions: Am I on track for financial independence?What do I need to do to get on track?How do I design a mindful investing portfolio?How do I manage that portfolio and my income over time through changing markets?How do I prepare non-financially for retirement? What are the dominant variables in a happy retirement?Learn more: https://courses.mindful.money/mindful-retirement-review-workshop/Gil Baumgarten is a disruptive wealth management pioneer. After battling UBS in defense of 100% ETF portfolios, a direct assault on the firm’s fee-rich mutual fund business, he was on the original beta-test team of six advisors permitted to run discretionary ETF portfolios in 2002. He has since been named one of the “Top-20 ETF Thought Leaders in the U.S.” by Barron’s and The Wall Street Journal . Gil’s fee-only fiduciary firm, Segment Wealth Management, is a top-15 firm in Houston as ranked by the Houston Business Journal . Gil is perennially named a top-50 advisor in Texas by Barron’s , out of the state’s estimated 26,002 registrants. Gil is also the best- selling author of FOOLISH: How Investors Get Worked Up and Worked Over by the System. Today, Gil joins the show to discuss his background in the financial services industry, the difference between fiduciary and non-fiduciary standards, and the psychology behind investing.? Watch on YouTubehttps://youtu.be/WJ-c7TCG-TUKey Takeaways00:57 – Jonathan introduces today’s guest, Gil Baumgarten, who joins the show to talk about financial trauma, share his experience in the financial services industry, and why he decided to pivot08:39 – Leaving to start his own firm10:50 – Gil talks about his book, FOOLISH:How Investors Get Worked Up and Worked Over by the System13:10 – The Slaughterhouse Example16:29 – Breaking into the brokerage industry and the major players out there23:41 – The fiduciary and non-fiduciary standards and recent legislation27:18 – Performance and return on investment35:01 – Investor psychology and ‘cognitive bias’42:29 – One piece of investment advice to heed and one thing to completely ignore50:07 – The last thing Gil changed his mind about and the one question he would like to know the answer to51:37 – Jonathan thanks Gil for joining the show today and lets listeners know where to connect with himTweetable Quotes“They say that you’ll stay in a situation until the pain of leaving is less than the pain of staying. And, so I kinda reached that point with touch-point after touch-point that I was getting in conflict over some issue with the firm. It was always about what was best for the client. And I just had enough and decided I wasn’t going to do it anymore.” (08:50) (Gil)“When you start to dissect the brokerage industry, they understand how sticky the relationship is between the advisor and the client. And they will position themselves in such a way to monetize that. They will sell information. They will sell order flow. They know that you’re going to stick with a mutual fund for a certain period of time. They also know that clients like for fees to be hidden from them. They like to understand that people in the brokerage industry are getting paid; they just don’t want to see it.” (13:52) (Gil)“Anybody in the world can give you...