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

A fee-only fiduciary adviser might have helped you at that time, but you traded maximum returns for simplicity and peace of mind.

From MarketWatch

“So we have a fiduciary responsibility to maintain the integrity of these assets. But also, on a human level, we have a very high responsibility for the safety of our colleagues and our co-workers.”

From Los Angeles Times

When that crisis affects the credibility of banks—whether they are fiduciaries, depositories or custodians of crypto assets—it puts the entire banking system and perhaps the economy at risk.

From The Wall Street Journal

Yet CEOs have a fiduciary duty to conceal strategic information that could tip off competitors from arm’s-length shareholders.

From Barron's

There’s a fine line between fraud and fiduciary duty for some executors, and it’s easily crossed.

From MarketWatch