Quotes & Sayings About Fiduciary

THE BUTCHER AND THE DIETITIAN A good friend of mine recently forwarded me a YouTube video entitled The Butcher vs. the Dietitian, a two-minute cartoon that effectively and succinctly highlighted the major difference between a broker and a legal fiduciary. The video made the glaringly obvious point that when you walk into a butcher shop, you are always encouraged to buy meat. Ask a butcher what's for dinner, and the answer is always "Meat!" But a dietitian, on the other hand, will advise you to eat what's best for your health. She has no interest in selling you meat if fish is better for you. Brokers are butchers, while fiduciaries are dietitians. They have no "dog in the race" to sell you a specific product or fund. This simple distinction gives you a position of power! Insiders know the difference. — Anthony Robbins

That faith which is required of us is then perfect when it produces in us a fiduciary assent to whatever the Gospel has revealed. — William Wake

If one has been blessed or have been fortunate enough to have got much more than normal wealth, it is but natural that one expects a certain fiduciary responsibility in terms of how that wealth is applied, used and leveraged for purposes of society. — Azim Premji

What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit expansion is built on the sands of banknotes and deposits. It must collapse. — Ludwig Von Mises

The problem, if anything, was precisely the opposite. I had too much to write:
too many fine and miserable buildings to construct and streets to name and clock towers to set chiming,
too many characters to raise up from the dirt like flowers whose petals I peeled down to the intricate frail organs within,
too many terrible genetic and fiduciary secrets to dig up and bury and dig up again,
too many divorces to grant,
heirs to disinherit,
trysts to arrange,
letters to misdirect into evil hands,
innocent children to slay with rheumatic fever,
women to leave unfulfilled and hopeless,
men to drive to adultery and theft,
fires to ignite at the hearts of ancient houses. — Michael Chabon

The unhappy theory of business ethics is this: you have a fiduciary responsibility to maximize profit. Period. To do anything other than that is to cheat your investors. And in a competitive world, you don't have much wiggle room here. — Seth Godin

There's a myth out there that you have to genuflect at the altar of quarterly earnings. But it's a false choice that you can either be a good fiduciary or promote values such as environmental sustainability. — Thomas Perez

From the perspective of a fossil fuel company, going after these high-risk carbon deposits is not a matter of choice - it is its fiduciary responsibility to shareholders, who insist on earning the same kinds of mega-profits next year as they did this year and last year. And yet fulfilling that fiduciary responsibility virtually guarantees that the planet will cook. — Naomi Klein

Our laws demand that a corporation have a fiduciary responsibility with shareholders to maximize profits. They are legally required to make as much money as possible, any way possible within 'the law.' — Michael Moore

I don't think our fiduciary duty is to put shareholders first. I say the opposite. What we firmly believe is that if we focus our company on improving the lives of the world's citizens and come up with genuine sustainable solutions, we are more in synch with consumers and society and ultimately this will result in good shareholder returns. — Paul Polman

Invest in low-turnover, passively managed index funds ... and stay away from profit-driven investment management organizations ... The mutual fund industry is a colossal failure ... resulting from its systematic exploitation of individual investors ... as funds extract enormous sums from investors in exchange for providing a shocking disservice ... Excessive management fees take their toll, and manager profits dominate fiduciary responsibility. — David F. Swensen

This civil action is another case of a tragedy that has become all too familiar in the music industry: a business manager and professional advisers exploit an immensely talented artist's loyalty and trust through greed, self-dealing, concealment, knowing misrepresentation and reckless disregard for professional fiduciary duties. — Leonard Cohen

Very much like the fiduciary value of money, mind is an abstraction riding a physical vehicle. Like monetary fiduciarity, the idea of mind as a separate, nonmaterial essence of being developed over thousands of years, leading to the modern concept of an immaterial consciousness, a disembodied spirit. Tellingly, in both secular and religious thought, this abstraction has become more important than the physical vehicle, just as the "value" of a thing is more important than its physical attributes. — Anonymous

And so it can be very much in the interest of bank A to sell-short bank B shares, or buy CDSes on bank B, because they have exposure to bank B. It's the responsible thing to do as a fiduciary, and yet if everyone does it at the same time, it's destabilizing because everyone is selling. — James Chanos

Education, especially business education will only give you tools. What you do with these tools is all that matters. Life and business isn't paint by numbers. You have to think for yourself. You have to invent yourself. You have an inferred fiduciary mandate to yourself, and that means, it's your responsibility to learn people skills, and language skills, in order to increase your chances of success. You also have to be at the right place, at the right time, with the right thing. Mostly and invariably, the real product you're going to be selling is ... .you. — Gene Simmons

We rarely use much debt and, when we do, we attempt to structure it on a long-term fixed rate basis. We will reject interesting opportunities rather than over-leverage our balance sheet. This conservatism has penalized our results but it is the only behavior that leaves us comfortable, considering our fiduciary obligations to policyholders, depositors, lenders and the many equity holders who have committed unusually large portions of their net worth to our care. — Warren Buffett

The whole question of fiduciary responsibility is a very old concept. You could make a movie about someone making that rule at any point in history, and within a few months, it will turn out to be timely. — Alan Alda

I think a problem for most people in a fiduciary capacity is to eliminate self and greed and all those things so that they can actually be in a fiduciary capacity where the artist comes first or the client, whoever the client happens to be. — Shep Gordon

There can be no other criterion, no other standard than gold. Yes, gold which never changes, which can be shaped into ingots, bars, coins, which has no nationality and which is eternally and universally accepted as the unalterable fiduciary value par excellence. — Charles De Gaulle

Stripped of the kind of judgments that are at the very heart of the idea of "credit", shot through with bad faith, [the mortgage broker's] work is now predicated on irresponsibility, rooted in the absence of community. Whatever lingering fiduciary consciousness he may have has become a liability, given the general rush to irresponsibility by his competitors. The work cannot sustain him as a human being. Rather, it damages the best part of him, and it becomes imperative to partition work off from the rest of life. — Matthew B. Crawford

We need a mutual fund industry with both vision and values; a vision of fiduciary duty and shareholder service, and values rooted in the proven principles of long-term investing and of trusteeship that demands integrity in serving our clients. — John C. Bogle

Women, you have all this power, I'm telling you. In business, you have something called an inferred fiduciary duty to yourself. Look at the other hugely successful women in industry, commerce, science and everywhere else and you'll see women who are feminine, beautiful but also do not rely on men for their self-empowerment. — Gene Simmons