In my previous post about the fi360 Conference, I included a brief thought about the financial services industry needing to transform itself into a profession and my belief that a meaningful fiduciary standard is the critical component. I had also mentioned something to this effect during my presentation at the conference.
Earlier today I received an email from my friend Andy Frommeyer who is Director of Products & Services at fi360. Andy pointed me to a blog entry he wrote late last year about the same topic. To illustrate his point, Andy referenced an incident from 2008 involving a PGA golfer (J.P Hayes) who was trying to earn his Tour card at qualifying school.
In a day and age where we are seemingly bombarded with negativity and all that is wrong in the world, I was greatly encouraged by this story about Hayes and Andy's thoughts. I think Andy nailed it and you can read his entry here to judge for yourself.