3ethos CEO Don Trone wrote for Financial Advisor magazine on how discernment may be the answer to creating a fiduciary rule.
"In the last month, two pieces of writing have appeared reminding us about the issues underlying the fiduciary duty debate. One was the op-ed about Goldman Sachs penned by Greg Smith for The New York Times on March 14, 2012. The other was a March 28, 2012, letter to the Securities and Exchange Commission, signed by seven consumer and financial advisor associations, that outlined a way to end the stalemate on implementing a fiduciary standard under the Dodd-Frank Act. I was trying to decide which item should be the focus of this column. Then I realized that both share a common, central theme-"discernment," or the lack thereof."