fiduciary

American  

[fi-doo-shee-er-ee, -dyoo-] / fɪˈdu ʃiˌɛr i, -ˈdyu- /

noun

plural

fiduciaries

1. Law. a person to whom property or power is entrusted for the benefit of another.

   All investment advisors registered with the Securities and Exchange Commission (SEC) must act as fiduciaries.

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adjective

1. Law. of or relating to the relationship of trust and good faith between a fiduciary and the person for whom the fiduciary acts.

   The executor of a will has a fiduciary duty to act in the best interest of the beneficiary.

   The banks do not assume any financial responsibility—they act in a fiduciary capacity only.

   The American Medical Association said that physicians have a fiduciary responsibility to patients.

2. depending on public confidence for value or currency, as fiat money.

fiduciary British  

/ fɪˈduːʃɪərɪ /

noun

1. a person bound to act for another's benefit, as a trustee in relation to his beneficiary

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adjective

1. 1. having the nature of a trust

   2. of or relating to a trust or trustee

Other Word Forms

• fiduciarily adverb
• nonfiduciary adjective

Etymology

Origin of fiduciary

First recorded in 1585–95; from Latin fīdūciārius “holding on trust; a trustee,” equivalent to fīdūci(a) “trust” + -ārius -ary

Example Sentences

The statute of limitations may be tolled if your father was mentally incapacitated and/or if the fiduciary concealed material facts from a co-trustee or executor and made false representations when settling the estate.

From MarketWatch

“Leadership roles usually create fiduciary duties and reputational alignment that are hard to square away with claims of full research independence.”

From Barron's

“The history of the court has been to be very protective of American workers and retirees, and to affirm that the fiduciary duty is the very highest duty under the law,” Schlichter said.

From The Wall Street Journal

Your involvement as power of attorney or conservator would be to manage the operation for her benefit as a fiduciary.

From MarketWatch

That includes requirements that institutional investors act with greater care for their fiduciary duty to their clients and that companies hire independent directors and reduce cross-shareholdings with other firms.

From The Wall Street Journal