Dimensional Stories: Our Interests Are Aligned

Dimensional Fund Advisors, Financial Planning, VideosPosted on April 7th, 2016No Comments

Written By: Lauren Mireles, FPQPTM 

CongruenceAround this time last year, we shared how and why Elissa and Dave have been promoting the fiduciary standard as this issue has been near and dear to Yeske Buie for many years. Now a year later, the financial world is currently abuzz over the Department of Labor’s new ruling to broaden the definition of fiduciary investment advice. Under the new rule, any individual receiving compensation for providing advice that is individualized or specifically directed to a particular plan sponsor, plan participant, or IRA owner for consideration in making a retirement investment decision will now be a fiduciary. As a fiduciary, the advisor must provide advice in their Client’s best interest rather than acting in a way that is broadly suitable to Clients based on their overall circumstances.

It is important to us that our commitment to the fiduciary standard is congruent to that of our strategic partners. On several occasions, we have highlighted how Dimensional Fund Advisors’ approach to investments and Client success aligns with Yeske Buie’s. The video we share today is no different. In this two minute Dimensional Stories video, DFA Founder David Booth and Nobel Laureate Robert Merton discuss the relationship between financial advisors and Dimensional. We find particular congruence in the approach of the two firms as Robert Merton describes the fundamental importance of having aligned incentives…

“There’s a natural and very powerful mutual benefit if you have people who are aligned.”

 

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“Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness that most frightens us. We ask ourselves, Who am I to be brilliant, gorgeous, talented, fabulous? Actually, who are you not to be? Your playing small does not serve the world. There is nothing enlightened about shrinking so that others won't feel insecure around you. We are all meant to shine. And as we let our own light shine, we unconsciously give others permission to do the same. As we are liberated from our own fear, our presence automatically liberates others.” ~Marianne Williamson