7 reasons why financial stewardship is more valuable than a fiduciary standard

With the recent release of the Labor Department’s re-proposed fiduciary definition, a lot of fiduciary advocates are concerned that “fiduciary” will become a de-minimus standard. It will become a floor, not a ceiling — a bronze, not a gold standard.

For those who have been involved with the fiduciary movement, “fiduciary” has been more about defining a professional standard than a legal standard. It was a way for elite advisers to differentiate themselves in the marketplace.

Now that we have seen how a regulator can maul the word “fiduciary,” we think there’s a better approach: define a higher professional standard of care. In this case, stewardship.

Link to article

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Don Trone: How TDFs May Change the Role of the Retirement Advisor

3ethos CEO Don Trone published an article for Napa-net.org on how target-date funds will continue to impact the advisor and client relationship, and how a fiduciary will need to provide a higher level or leadership and stewardship.

© 3ethos

Target date funds are a blessing to participants, plan sponsors and retirement advisors.

TDFs sure are a beautiful thing. What more is there to say? End of article, right? If you haven’t guessed by now, I’m being facetious.

“The ability to manage a fiduciary process is no longer going to be the point of differentiation between a great retirement advisor and an elite one — leadership and stewardship will.”

See the complete article, linked here in PDF format.

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#dontrone #fiduciary #retirement #leadership #stewardship #targetdatefunds