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Socially Responsible Investing: Is Your Fiduciary Duty at Risk?
Journal of Business Ethics
Vol. 90, No. 4 (Dec., 2009), pp. 549-560
Published by: Springer
Stable URL: http://www.jstor.org/stable/27735265
Page Count: 12
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Socially responsible investing identifies the fiduciary duty and liability for financial advisors serving individual and institutional clients when consulting in the SRI space. This article first discusses the role of a fiduciary emerging from both a legal and an ethical basis. Further, the special aspects of maintaining fiduciary duty and minimizing fiduciary liability are described as they relate to SRI. A number of recommendations are discussed: legal, ethical, and practice. This study argues that prudence focuses more on the process of decisions rather than their outcomes, as measured exclusively by rate of return.
Journal of Business Ethics © 2009 Springer