Fiduciary

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What It Means

A Fiduciary is a person or organization that manages assets on behalf of another person. They are legally required to make decisions based on the best interests of their clients.

Why It’s Important

Fiduciary responsibilities occur in a variety of professional relationships, such as attorney and bankers, but not all professional advisors have a fiduciary responsibility. When in doubt, ask your advisor whether they have a fiduciary responsibility to their clients.

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