According to the IESE Business School “A CEO with too much power and too little supervision by the board of directors can put a company in danger, as recent financial scandals attest. This is why independent board members are vital.”
They say ….
The Ideal Board Member
Ultimately, the goal of any board member is to defend shareholder interests. Doing this requires that board members exercise objective, sound, professional judgment. In this respect, being independent is crucial.
Ideally, this role should be filled by someone who is loyal, able to avoid conflicts of interest, diligent, dedicated and who has a professional reputation that boosts the teams confidence.
As a retail investor, if you have accumulated assets that need management, these principles are exactly the same.
If you have a wealth manager, who provides independent “objective, sound, professional judgment.” Someone that is “able to avoid conflicts of interest”
Who holds the wealth manager accountable?
If you have not explored the benefits of unbiased conversation, perhaps it’s time you did.
Interested in board independence…
https://www.ieseinsight.com/doc.aspx?id=1222
https://www.cfainstitute.org/en/advocacy/issues/board-independence#sort=%40pubbrowsedate%20descending
https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Risk/gx-ccg-on-boards-agenda-feb-2016.pdf