3ethos CEO Don Trone wrote for Financial Advisor magazine on leadership, stewardship, and fiduciary governance.
"Simply defined, "stewardship" is the acceptance of ethical and moral responsibility. It may be for a person, place or thing. In contrast, a fiduciary accepts legal responsibility. Clearly, the two terms need to be paired if we want to define successful client outcomes. Furthermore, I would suggest that with these two terms we should integrate the concept of leadership, for it is leadership that will have more impact on a long-term client relationship than any other factor.
The intersection of leadership, stewardship and fiduciary governance is best defined as "the point of triangulation," the point which marks the coordinates of a higher, professional standard of care."