Building a Stronger Retirement Plan Fiduciary:
The Importance of Leadership & Stewardship
Episode Guest:
Topic:
Building a Stronger Retirement Plan Fiduciary:
The Importance of Leadership & Stewardship
Click to listen here now
The podcast series where employers find candid, in-depth interviews with industry experts, new best practices and valuable perspectives on current events.
Recap, highlights, and my thoughts
When you take a new job or start with a new company, generally there is a job description, clear roles & responsibilities, a training program or on boarding process to help you get your feet underneath you in your new role. However, when employers create a retirement plan committee many of the people they tap to be members, and thus plan fiduciaries, have never been a fiduciary to a workplace retirement plan and aren’t really sure what that means and receive no training. If this sounds at all familiar, my guest today, Don Trone, is the Co-founder & CEO of 3Ethos should be a breath of fresh air!
During our conversation, Don shares his experience, good and bad, on what he has learned over the years to help retirement plan fiduciaries embrace their roles & responsibilities in a way that empowers them to make better decisions, protect themselves form liability and have a positive impact of their retirement plan and participants. As an aside, its not every day that you hear fiduciary and goat rodeo used in the same sentence, that was a new one on me, but it made sense!
Below is a link to a helpful guide Don provided with some of the traits and characteristics their research at 3ethos has shown successful fiduciaries have. Check it out when you can!
On a side note, I just wish I had the deep melodious baritone in my voice like Don!
Thanks for listening!
Sincerely Your Host,
Rick Unser
Guest Bio
Don Trone is the CEO and co-founder of 3ethos. Don was the founding CEO of fi360 and the AIF and AIFA designation; founder and President of the Foundation for Fiduciary Studies; and the first person to direct the Institute for Leadership at the U.S. Coast Guard Academy.
Over the past three decades, Don has trained more than 10,000 financial advisors and trustees on the subject of procedural prudence. In 2015 he was named by Investment Advisor magazine as the “Father of Fiduciary” and one of the 35 most influential people in the financial services industry.
In 2003, he was appointed by the U.S. Secretary of Labor to represent the investment counseling industry on the ERISA Advisory Council, and in 2007 he testified before the U.S. Senate Finance Committee on the fiduciary issues associated with the management of retirement plans.
He is the author or co-author of twelve books on the subject of fiduciary responsibility, portfolio management, and leadership.
Don is a graduate of the U.S. Coast Guard Academy and is the president of his class. He served for ten years on active duty, most notably as a long-range search and rescue helicopter pilot. He has a Master’s from The American College and has completed post-graduate studies in theology from the Pittsburgh Theological Seminary and Trinity Episcopal Seminary.