CHAPTER 3The Impact of Wealth Stewardship

The concept of stewardship is thousands of years old. In medieval times, domestic stewards oversaw the finances and activities of the household while village stewards represented the lord in towns over which the lord had jurisdiction. It was critical that a steward be honest and trustworthy and to act in his lord's best interest.

More recently, stewardship has taken on a broader meaning and is now defined as “the … responsible management of something entrusted to one's care.”1 A steward may be a teacher entrusted with educating children or an elected official charged with managing a municipality. In the realm of wealth management, serving as a trustee for a family trust exemplifies the concept of stewardship ...

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