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Article: Financial Planning: Aristotle and Fiduciaries: Fiduciary Duty Has Been Eroded.
- Article from:
- The Practical Accountant
- Article date:
- October 1, 2007
- Author:
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I want to explore the roots of the words "fiduciary" and "prudence." I will use Aristotle, Aquinas, and a few others to help in the cause, and discuss transparency and tennis along the way. I hope you will play along.
I believe a prudent, temperate fiduciary should make decisions based on a "here-and-now" process that learns from the empirical complexity of the past, and through farsighted concern and planning, uses creative intellect honed by experience and guided by care to plan for the future. Such a process, if it includes leadership, integrity, and careful monitoring, naturally leads to systems and behaviors that assure the intended results will come from a ...