Are You a Fake Fiduciary

Recorded by: Adam Holt & Derek Notman

Are you a fake Fiduciary? 

The word “fiduciary” is thrown around a lot, but are advisors who use it, truly acting as fiduciaries or just marketing it?

In this episode, Adam Holt and Derek Notman are joined by Tom Hegna. One of the most prolific industry speakers, Tom is considered by many an expert in Retirement Income and Security common sense! He comes to Rethink Tank to shed some light on the irony of the current attitudes towards “fiduciary” and sees a huge hole in most professionals’ stories. He also provides some insight into the ins and outs of the financial advice market today and what consumers are really looking for from their professionals. 

Tom discusses:

  • Where the financial service market is currently at
  • Why Fake Fiduciaries don’t look out for their client’s best interest
  • Addresses why advisors survive less than 5 years in the insurance industry
  • The Importance of knowing the product you’re promoting at the right time
  • And More!

Tom Hegna is an economist, author, and retirement expert. He has been an incredibly popular industry speaker for many years and is considered by many to be THE Retirement Income Expert!.

As a former First Vice President at New York Life, retired Lieutenant Colonel, and economist, Tom has delivered over 5,000 seminars on his signature “Paychecks and Playchecks” retirement approach, helping Baby Boomers and seniors retire the “optimal” way. He has condensed a large chunk of his considerable knowledge into 5 books.

Related: The Risk of Advisor Complacency Featuring Aaron Klein