Book description
A compelling argument for why stewardship of wealth and service to
others should be our highest financial priority
Stewardship is the journey of financial insider John Taft
towards understanding and affirming the importance of
stewardship-which he has come to define as "serving
others"-as a core principle for the financial services industry,
the global financial system, and society at large.
By defining the attributes of authentic stewardship, this book
presents a path forward by analyzing the success of Canadian banks in
weathering the financial crisis; evaluates the effectiveness of global
financial reform efforts in making the financial system safer,
sounder, and more secure; offers wealth management prescriptions for
individual investors; evaluates the potential of ESG (environmental,
social, and governance) investment processes as a way to instill
stewardship behaviors among corporate CEOs (particularly at financial
services firms); and, ultimately, calls for a return to stewardship's
core principles as the key to not only minimizing the scope and
consequences of future failures, but also to addressing other societal challenges.
- Argues for a return towards stewardship, with financial services
companies doing right by their customers
- Analyzes the response of Canadian banks to the financial crisis to
provide meaningful advice for investors and businesses alike
- Inspired by Taft's experience running one of the largest wealth
management firms in the country during the financial crisis and his
direct participation in subsequent legislative and regulatory
efforts to rewrite the rules under which the U. S. securities
industry operates
From the man who made the decision to reimburse clients affected by
the collapse of a money market mutual fund comes a compelling look at
why financial service companies should start doing what's right for
their customers.
John G. Taft is CEO of RBC Wealth Management-U. S. He is a
leading figure in the U. S. securities industry and served as Chairman
of the Securities Industry and Financial Markets Association (SIFMA)
in 2011. He is a direct descendant of U. S. President William Howard
Taft and Senator Robert A. Taft.
