What is fiduciary responsibility and why is it important?

1 min. readlast update: 02.28.2025

A fiduciary is “a person or organization that acts on behalf of another person or persons to manage assets.”  A fiduciary owes to that other entity the duties of “good faith” and trust.  Being a fiduciary requires being bound ethically and legally to act in the other party’s best interests.  A fiduciary is required by law to put the client’s best interests above his/her own.  

 

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