In this episode, Bill welcomes Independent Directors Council Managing Director Thomas Kim to explore the evolving role of independent fund directors in today’s financial landscape. They discuss the history and growth of the mutual fund industry, the importance of fiduciary responsibilities, and the growing complexities of investment oversight. Tom shares his perspective on how governance has changed since the introduction of the 40 Act, the impact of ETFs, the importance of professional fund management, and the increasing need for financial education for investors. The conversation also touches on the future of asset management, the role of technology and AI in investing, and how independent directors can prepare for the challenges of tomorrow.