Fiduciary

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Fiduciary

One who must act for the benefit of another party.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Fiduciary

1. A person appointed to handle another person's finances. A fiduciary holds the assets of another person and is required to act in the best interests of that person; he/she is not allowed to invest for personal profit. See also: Prudent person rule.

2. Describing a duty or obligation to act in the best interest of another person or institution. For example, an elected government might state that it has a fiduciary duty to wisely use the taxes it collects.

3. An unsecured loan.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

fiduciary

A person, such as an investment manager or the executor of an estate, or an organization, such as a bank, entrusted with the property of another party and in whose best interests the fiduciary is expected to act when holding, investing, or otherwise using that party's property.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

Fiduciary.

A fiduciary is an individual or organization legally responsible for managing assets on behalf of someone else, usually called the beneficiary. The assets must be managed in the best interests of the beneficiary, not for the personal gain of the fiduciary.

However, the concept of acting responsibly can be broadly interpreted, and may mean preserving principal to some fiduciaries and producing reasonable growth to others.

Executors, trustees, guardians, and agents with powers of attorney are examples of individuals with fiduciary responsibility. Firms known as registered investment advisers (RIAs) are also fiduciaries.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

fiduciary

A person who enjoys a relationship of trust or confidence with respect to another such that the law will impose greater than normal responsibilities on the fiduciary for honesty, integrity,candor,and scrupulous good faith even if it means sacrificing the interests of the fiduciary. Typical fiduciaries include attorneys, real estate agents representing principals, trustees, and guardians. Because of the fiduciary relationship between an agent and principal, it is difficult to understand the concept of dual agency, in which the broker may represent both the buyer and seller.A seller's fiduciary must keep all the client's information confidential,not volunteer anything unless absolutely required by law, and attempt to gain the highest possible price for the property. A buyer's fiduciary must ferret out all secrets, volunteer all information regarding anything at all that might affect property values, recommend the most thorough home inspectors, and attempt to obtain the lowest possible price for a property. These positions are extremely difficult to reconcile in one person.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.

Fiduciary

One who acts for an estate or trust to manage the property of the estate or trust.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary
References in periodicals archive ?
* Advisors who don't assume fiduciary responsibility, but who team with companies that do
Conflicts of interest are ethically problematic because they pose a threat to the routine fulfillment of fiduciary responsibility, the basis of every health care organization's obligations to its patients.
Trusted data is third party sensitive information provided to an organization which has an implied or direct fiduciary responsibility to protect that data (e.g.
The broker has a fiduciary responsibility to represent the interests of the insurance buyer.
To help attendees navigate the many educational sessions, the conference program has been divided into five tracks that will focus on the following key areas of responsibility: asset management, business development, management and leadership, fiduciary responsibility and regulatory issues.
This offense was intended by Congress to cover stock trades by a corporate officer, director, or major shareholder--someone with a fiduciary responsibility to a company's stockholders--based on non-public, material, "inside" information.
The destruction contractor should provide documentation upon receipt of the materials to be destroyed that acknowledges and accepts fiduciary responsibility for the confidentiality and destruction of the materials.
But again and again, we see when it comes to actual litigation, when the issues are actually posed, government--the federal government which has the specific fiduciary responsibility --ends up lining up with the provincial government on the side of extinguishment and devoting all the resources of the state to make that argument.
The continuing education program will focus on the role of the attorney-CPA in financial planning and investment management and related topics including fiduciary responsibility and multidisciplinary practice.
It went public in 1994, and although the board functioned effectively, it recognized that it needed to strengthen a number of its processes to fully exercise the fiduciary responsibility it now faced as the board of a large, highly visible public company.
"In addition to this, the federal government accepts the fiduciary responsibility for Indians on lands reserved for Indians.