Sign in Subscribe

EP: 030 Mindfulness, Spirituality, and Fiduciary Standards w/ Tim "Jai" Baker

EP: 030 Mindfulness, Spirituality, and Fiduciary Standards w/ Tim "Jai" Baker

I had the privilege of sitting down with Tim "Jai" Baker—wealth advisor, founder of Luminess Wealth, and author of “The Awakened Investor"– for an episode of Modern Financial Wellness. We explored not only the technical side of what makes up true wealth, but also dove deep into the intersection of finance, mindfulness, and personal transformation.

This conversation is much more than a discussion about money or traditional financial planning. Tim shared his unique story of transformation, including how meditation began to shape his life, especially after the tragic loss of his daughter. We discussed why financial success doesn’t always lead to life satisfaction, the pitfalls of mainstream financial services (including the crucial distinction between “fiduciary” and “suitability” standards), and the importance of addressing one’s mindset and inherited beliefs around money.

We also explored how the most effective wealth management considers a client’s entire well-being—drawing from Blue Zone research on longevity, examining family money scripts, and integrating mindfulness, health, and life satisfaction into financial planning. If you’re curious about the intersection of spirituality and personal finance, or want to understand why your financial journey is so entwined with your mindset and life story, this episode is for you.

5 Key Takeaways:

  • Wealth is Holistic, Not Just Dollars and Cents: Tim emphasizes that true wealth is much broader than just financial assets—it includes health, relationships, environment, and personal fulfillment. This echoes the original etymology of "wealth," which referred to prosperity, well-being, and health, not just currency.
  • Know Thyself: Mindset is Everything: Our deepest beliefs and attitudes about money are often formed in early childhood, and can drive financial decisions unconsciously for decades. Becoming aware of—and consciously reshaping—our money scripts and mindset is essential for both financial and personal progress.
  • Not All Advisors Are Created Equal: The Importance of Fiduciary Duty: Tim explains the difference between “fee-only fiduciary” advisors and those who operate under the less stringent “suitability” standard. Only about 10% of advisors are true fiduciaries, committed to putting the client’s interests first.
  • The Power of Daily Practice (and Teamwork): Just as true personal or spiritual development requires daily effort (think of Tiger Woods’ golf training, or regular meditation), financial growth needs consistent practice, regular reviews, and a cohesive team dedicated to your wellbeing—not just isolated experts.
  • Transformation is a Journey, Not a Destination: Tim’s own experience—from Wall Street to spiritual retreats in India—underscores that awakening (whether financially or personally) is continual work. Setbacks and triggers are natural, and the goal isn’t perfection, but ongoing growth and alignment between our values, goals, and resources.

You can watch the full video of our conversation on YouTube here:

You can also find the audio versions on places like Spotify, Apple Podcasts and wherever else you listen to your favorite podcasts.

Make sure to check out some of the great recommendations that Tim provided and follow his content below:

READ + LISTEN + LEARN:

FIND TIM @: