fiduciary

[fi-doo-shee-er-ee, -dyoo-]

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.

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

/ fɪˈduːʃɪərɪ /

noun

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

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

Word History and Origins

Origin of fiduciary¹

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

Word History and Origins

Origin of fiduciary¹

C17: from Latin fīdūciārius relating to something held in trust, from fīdūcia trust; see _fiducial

Example Sentences

“The judge sits in an advisory, almost fiduciary relationship with those who stand to benefit from the class action,” Wheeler said.

From Los Angeles Times

They also concluded that a car dealer had a "fiduciary duty" towards the car buyer when it came to arranging a car loan.

From BBC

The lawsuit was filed as a derivative action in which shareholders sue a company’s officers and directors on behalf of the company, claiming they had breached their fiduciary duties.

From Los Angeles Times

A decision is expected any day from the U.S. 9th Circuit Court of Appeals on a federal judge’s ruling that the VA had failed a fiduciary duty to provide housing for veterans.

From Los Angeles Times

There's even this doctrine that everyone has a fiduciary duty to maximize value to the shareholder, which is an interesting thing to say, because it's pure ideology.

From Salon