Integrity. Honesty. Trustworthiness. These values are the bedrock of the work we do for our clients.
Recently, in both the Wall Street Journal and USA Today, I found headlines about the latest in corporate dishonesty and fraud. From one story about a Wall Street bank involved in another trading scandal at the expense of the client, to a major auto manufacturer that rigged their emissions testing, to a financial company exposed as an outright fraud, these stories point to the dishonesty that exists, sadly, in the business world today.
We know there are the good guys out there – the companies that operate at the highest levels of integrity and excellence AND seek to put the client’s interest ahead of their own. We know they are out there because Covenant Trust Company is one of them. We also understand that these reports on the seeming rampant dishonesty can undermine confidence in the entire industry.
It’s rather like the headlines on the stock market. When the market is slowly but steadily moving forward, there are no headlines on that fact. Good news does not grab headlines. Bad news does. You won’t see a headline on “Trustees and Asset Managers doing their job well for their clients” because that wouldn’t get the public to tune in.
It’s unfortunate that the dishonest firms that exist taint the rest of us working in the financial services arena. So how do you spot the good guys? We are the ones being transparent and open in all that we do. We are the ones fully disclosing our fees and not burying them in the agreement’s fine print. We are the ones providing you with a complete description of everything that occurs in your account. We are the ones providing 24/7 online access so you can always know what is going on. And we are the ones who welcome your calls and emails because we know the more we know about you and your values, the better we can serve you.
Yes, the bad apples are out there, but the good guys, like Covenant Trust Company, will continue to operate with integrity, honesty and trustworthiness. You can count on it.
– Ann Wiesbrock, CFP®, President