Published online by Cambridge University Press: 11 September 2020
A traditional perspective on the responsibility of finance professionals would hold that being a diligent fiduciary fulfills all of one’s professional and moral obligations since those are inherently intertwined. The industrious practice of a profession, trade, or art embodies moral behavior. Consequently, for a finance professional, as for any type of professional service provider, being a good fiduciary is the fulfillment of professional responsibility. However, I will contend that being a good fiduciary doesn’t automatically lead one to contribute to society. It simply entails faithfully delivering on the set of responsibilities entrusted by a client. The underlying financial activity matters because it can have a positive or negative impact on other people, independent of its impact on the client.