3ethos CEO Don Trone, L5, writes about how trust is the first casualty of a crisis of leadership.
A crisis occurs when there’s an erosion of trust as a result of poor leadership, stewardship, and governance.
The pandemic, the precipitous drop in the stock market, and the protests: What do these three crises share in common?
The answer: conditions have been made worse by the erosion of trust. Indeed, trust is the first casualty of any crisis.
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3ethos CEO Don Trone, L5, wrote on how Behavioral Governance can help advisors harness scientific advances to improve their fiduciary decision-making outcomes.
"Neuro-fiduciary is the science that seeks a better understanding of what it takes to be a great fiduciary. It’s the next significant step in the evolution of the fiduciary movement.
For the past 35 years, the fiduciary movement has been defining best practices that are fully substantiated by law, regulations, case law, and regulatory opinion letters. Now, we’re employing neuroscience to discover ways to improve these same best practices, and to improve the prudent and ethical judgment of a fiduciary.
It’s not enough to be compliant with complex disclosures and rules."
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3ethos CEO Don Trone, L5, wrote for 401(k) Specialist Magazine that while everyone will be considered a "fiduciary"under CFP Board's new standards, no one has been trained to be. He provides seven ways advisors can meet an actual fiduciary standard.
"New fiduciary standards are going to be based on a de-minimis standard. The bad news is that now everyone will be a fiduciary. The good news is that there are hacks for it.
There’s nothing that precludes you from defining a higher standard and creating your own fiduciary brand.
“Why yes, I’m a fiduciary and much more. Let me show you how.”
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