Is fiduciary the new floor?

Photo: AP

I had the pleasure of visiting the monthly meeting of the FPA of Greater Rochester New York last week. As a past president of its predecessor chapter (at the time, the Upstate New York Chapter, which included not only Greater Western New York—Buffalo and Rochester—but also Syracuse and Binghamton, was among the ten largest chapters in the nation), I try to stay up-to-date on the goings-on of the group.

Of particular interest at this meeting was the speaker, my good friend Don Trone, who offered an intriguing title for his talk:  “The Dishonest have Discovered that the Best Camouflage is the Cloak of a Fiduciary Standard.”