At Does Fiduciary Mean?

A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties. Typically, a fiduciary prudently takes care of money or other assets for another person.

What is an example of a fiduciary?

They include lawyers acting for clients, company executives acting for stockholders, guardians acting for their wards, financial advisors acting for investors, and trustees acting for estate beneficiaries, among others. An employee may have a fiduciary duty to an employer.

What does the word fiduciary mean in legal terms?

When someone has a fiduciary duty to someone else, the person with the duty must act in a way that will benefit someone else, usually financially. The person who has a fiduciary duty is called the fiduciary, and the person to whom the duty is owed is called the principal or the beneficiary.