The title for this episode might seem a little confusing, but after you listen to my conversation with Don Trone, CEO and Co-founder of 3Ethos it will make a lot more sense. This is Don’s second visit to the podcast, if you missed his first one, Building a Stronger Retirement Plan Fiduciary, it is a great listen as well. Today we kick off with a quick post mortem on the DOL fiduciary rule and thoughts on the movements within some states to create their own version of a fiduciary rule. We also tackle a bigger question of whether you can regulate or legislate someone into being a good fiduciary, interesting response to an interesting question. Don also shares what he feels the future of fiduciary holds and shares input on robo-fiduciaries and if fee compression is impacting the fiduciary world. Finally, we also discuss how plan sponsors can keep their fiduciary roles in perspective while keeping their important day jobs.
Guest Bio
Don Trone is the CEO and one of the Co-founders of 3ethos, which conducts original research in the new field of Behavioral Governance (BG). BG is the follow-on to Behavioral Finance, except now the focus is on how the behavior of a fiduciary impacts the quality of retirement outcomes.
Don Trone is the CEO and one of the Co-founders of 3ethos, which conducts original research in the new field of Behavioral Governance (BG). BG is the follow-on to Behavioral Finance, except now the focus is on how the behavior of a fiduciary impacts the quality of retirement outcomes.
Don was the founding CEO of fi360; 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 investment fiduciaries 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 ten books on the subject of fiduciary responsibility, portfolio management, and leadership.
Don is a graduate of the U.S. Coast Guard Academy, and 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.
401(k) Fridays Podcast Overview
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