It’s human nature that, in life, many tend to set a low bar that is intended to help keep them out of trouble. The thinking is, if we stay above that mark in whatever we are doing, then we will be just fine.

This tendency has invaded the financial services industry and has led to a virtual commoditization of fiduciary services. This issue for those serving in an investment fiduciary capacity within the industry has led to a norm that is fear-driven, with a preoccupation on avoiding bad outcomes.

The focus has been on compliance rules and regulations, but this is a misguided approach that needs to change. The better approach? Aspiring to best serve clients and organizations through the guidance and application of best practices, strong leadership and stewardship.

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