Fiduciary Legal Meaning and Definition
Here is a simplified definition of the legal term Fiduciary.
1) (n.) A fiduciary is a person, company, or association that has a legal duty to act solely in another party's interests. This could include a trustee managing assets for the beneficiary, or a financial advisor making investments on behalf of a client. The fiduciary is held to high ethical standards to avoid conflicts of interest and must strive to ensure they do their utmost to act in the best interests of the client or beneficiary.
2) (adj.) Describing a relationship or situation in which an individual or entity is acting with utmost good faith, trust, confidence, and sincerity in the best interest of another party, as in fiduciary duty or fiduciary responsibility.