By admin on July 4, 2017
A wealth steward is someone placed in a position of trust to protect, oversee, and be responsible for the wealth of another.
In our view, wealth stewardship operates according to four key principles:
- Ownership: A steward doesn’t own; they hold in trust and use what’s been given for the benefit of the one who owns.
- Responsibility: A steward is responsible for the care and development of what’s been entrusted to them.
- Accountability: A steward needs to provide an account to the owner of how well they’ve managed what’s been entrusted to them.
- Compensation: A steward is entitled to compensation for a job well-done.
These Stewardship Principles are prudent and sound yardsticks by which both the mindset and actions of all wealth advisors (i.e. financial stewards) should be measured, to ensure that clients’ hard-earned wealth is protected.
