3ethos CEO Don Trone published an article for 401kTV on why everyone from clients to advisors should loath the idea of fiduciary rules.
Who on your investment committee loves to talk about fiduciary responsibility, besides legal counsel or your retirement advisor?
Probably, no one.
I’ve been writing, teaching, and advocating for fiduciary standards for more than 28 years. I’m passionate about the subject – it’s my avocation. But, it took me more than 20 years until I realized that no matter how positive I tried to treat the subject, fiduciary responsibility always came across as negative motivation. No matter what I said, the audience only heard: You’d better do it, or else.
A link to the 401kTV complete article (as PDF) is here.