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TERM OF THE DAY

Fiduciary A fiduciary is responsible for managing the assets of another person, or of a group of people. Asset managers, bankers, accountants, executors, board members, and corporate officers can all be considered fiduciaries when entrusted in good faith with the responsibility of managing another party's assets. Term Of The Day Selected By David Hunter Principal Horizons Wealth Management Greenville, SC www.horizonswealth.com

Breaking it Down: A fiduciary's responsibilities are both ethical and legal. When a party knowingly accepts a fiduciary duty on behalf of another party... Read More

Related to "Fiduciary"

Fiduciary - Video A fiduciary is a person who acts on behalf of another person (or people) to manage assets. Read More Meeting Your Fiduciary Responsibility Being a fiduciary comes with a certain level of responsibility. These four steps will reduce your liability when managing other people's money. Read More Why Realtors Have Fiduciary Responsibilities Find out why real estate agents are considered to have a legal fiduciary responsibility to uphold the best interests of their clients. Read More

RELATED DEFINITIONS Named Fiduciary The fiduciary that holds responsibility over a given financial account. Fiduciary Negligence A professional malpractice in which a person fails to honor his or her fiduciary obligations and responsibilities.  RELATED DEFINITIONS Self-Dealing A situation in which a fiduciary acts in his own best interest in a transaction rather than in the best interest of his clients. Fiduciary Fraud Illegal practices committed by financial institutions and financial professionals that constitute a breach of trust between the financial agent and the client.