ThinkAdvisor: Fiduciary Standards Are a Disaster

3ethos CEO Don Trone was featured in article for ThinkAdvisor on why government rules like Fiduciary Rule do not produce the intended or optimal outcome.

“It’s often defined as doing what’s in the best interest of the client,” he explained. “Every time I hear it I do this sort of Popeye face. I think, ‘really?’ I’ve never gotten behind that definition because for a true fiduciary, it doesn’t have to be talked about; it’s just understood.”

Referring to his time as a Coast Guard search and rescue pilot, Trone noted he never once had to say he would jeopardize his life to save others; it was just understood.

“Through the eyes of your clients, you have to be viewed as a leader. If you’re not, you’ll never be able to take them through a financial crisis.”

A link to the article at ThinkAdvisor is here.


#dontrone #dol #sec #fiduciary

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