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What is fiduciary duty?
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4th Dec 2009 by Daniel Cross, ChFC
A fiduciary duty is an ethical and legal relationship with someone (or something) else, called the principle. The fiduciary has a responsibility to act in the best interests of the principle, putting their needs and desires above all else. They act as managers or controllers for the principle and so must establish a foundation of trust and values. Any money manager, executor, and sometimes lawyer will find themselves in a fiduciary role.
A fiduciary duty is an ethical and legal relationship with someone (or something) else, called the principle. The fiduciary has a responsibility to act in the best interests of the principle, putting their needs and desires above all else. They act as managers or controllers for the principle and so must establish a foundation of trust and values. Any money manager, executor, and sometimes lawyer will find themselves in a fiduciary role.
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21st Nov 2009 In Financial Services
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Subjects: fiduciary duty,