Fiduciary
A person or entity that holds a position of trust and has a legal obligation to act in the best interest of another party.
Encyclopedia entry: Fiduciary
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fiduciary
A fiduciary, derived from the Latin term for “trust”, is a person owing a fiduciary duty to another. When someone has a fiduciary duty to someone else, the person with the duty must act in a way that will benefit someone else financially. Owing a fiduciary duty to a party creates a fiduciary relationship .
[Last reviewed in January of 2023 by the Wex Definitions Team
]
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Encyclopedia content from Cornell LII Wex (CC-BY-NC-SA 2.5).
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This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.