One who holds a thing in trust for another; a trustee.
One who depends for salvation on faith, without works; an Antinomian.
A person having a legal relationship of trust and confidence to another and having a duty to act primarily for the others benefit, e.g., a guardian, trustee, or executor.
A Fiduciary is someone who acts on behalf of another in a particular matter or transaction. A Fiduciary has power that is capable of being used to affect his Principal and who must exercise that power solely in the best interests of his Principal.
A person in a position of trust and confidence. Example: A real estate broker who becomes an agent of a seller or buyer is deemed to be a Fiduciary. Other examples of fiduciaries are trustees, executors, and guardians
One who is bound to look after the affairs of another, using the same standards of care and prudence as he or she would use in attending to his or her own affairs, as in a trustee of a trust or a board member of a board.
Held or founded in trust; one who holds a thing in trust for another person.
A person or firm holding assets for another party with the authority and duty to make decisions in the best interests of that other party.
A person or business (such as a bank or stock brokerage) that has the power and obligation to act for another. The fiduciary has greater knowledge and expertise about the matters being handled.
A generic term for persons or legal entities such as executors, trustees, and guardians appointed by the court, under a will, or by a trust to manage, control, or dispose of the property of others.
Relating to a relationship of trust, such as that between agent and principal, where the agent owes a duty to safeguard the interests of the principal.
Someone, such as a trustee or guardian, who holds the assets of another person, often with the legal authority and duty to make decisions regarding financial matters on behalf of the other party.
A person in a position of trust and confidence, as between principal and broker. A fiduciary may not make a profit from his or her position without first disclosing it to the beneficiary. Back to the Top
A person who is entrusted with exercising rights and powers for the benefit of another person or other persons. A fiduciary cannot benefit personally from the exercise of this responsibility.
A person who is in a position of trust, holding property or otherwise acting on behalf of another. Particularly applicable to real estate agents, brokers, or property managers.
(fih DOO she AIR ee) Person having a legal relationship of trust and confidence with another and a duty to act primarily for other's benefit, e.g., guardian, trustee or executor.
A person or organisation entrusted with the responsibility of managing, holding or investing assets in the best interests of the owner of the assets. Trustees of superannuation funds are fiduciaries in respect of the members of their funds.
(1) A person entrusted with the duty to act for the benefit of another person. (2) A person in a position of trust and who manages money or property for another.
A person who undertakes the legal duty to act for the benefit of another. Fiduciaries include, but are not limited to, personal representatives, guardians, conservators, or trustees.
One who occupies a position of special trust and confidence, as in handling or supervising the affairs or funds of another. Trustees, executors, administrators, corporate directors, etc., are fiduciaries. The mere fact that somebody is trusted by somebody else, however, does not establish a fiduciary relation. The relation must be one fitting a recognized legal category. A fiduciary under ERISA, for instance, must meet certain statutory tests and is prohibited from engaging in defined acts.
A person has been appointed and entrusted with certain duties on behalf of another, usually monetary in nature. A fiduciary must possess the highest level of good faith, loyalty and diligence.
A person in a position of great trust and responsibility who supervises the financial affairs of others. In the financial services area, it can be a person or institution that manages money or property for another and must exercise proper and prudent judgment as stipulated by law.
A person, company, or association that holds assets in trust for a beneficiary. The fiduciary is charged with the responsibility of investing the assets wisely for the beneficiary's benefit. Examples of fiduciaries include executors of wills and estates, trustees, and those who administer the assets of underage or incompetent beneficiaries.
A person legally appointed and authorized to hold and manage assets in trust for another person.
A real estate broker who becomes an agent of a seller or buyer is deemed to be a Fiduciary. Other examples of fiduciaries are trustees, executors, and guardians. As a fiduciary, a real estate broker is held by law to owe specific Fiduciary Duties to his/her Principal (the person who they are representing), in addition to duties or obligations set forth in a Listing Agreement, Buyer Representation Agreement, or other contract of employment. Subagents of the broker also owe the same Fiduciary Duties to the broker's principal.
Person or entity with custody of assets for another.
One who has a duty to another by reason of position, special expertise, or some other attribute or agreement. This status may be defined explicitly or may be inferred (or assigned by a court) based on the relationship between the parties.
With regard to a pension plan, a person or organization with control over the plan or its assets.
indicates the relationship of trust and confidence where one person (the fiduciary) holds or controls property for the benefit of another person. For example, the relationship between a trustee and the beneficiaries of the trust.
An individual or institution occupying a position of trust. An executor, administrator or trustee responsible for the assets belonging to another person.
An individual or entity holding the funds or property of another in a position of trust. An example of a person having a fiduciary responsibility is an executor of an estate.
A person or company entrusted with assets owned by another party (beneficiary), and responsible for investing the assets until they are turned over to the beneficiary.
Relating to someone who holds something in trust for another.
A person or institution who manages money or property for another and who must exercise a standard care imposed by law, i.e., personal representative or executor of an estate, a trustee, etc.
A fiduciary is an individual or organization legally responsible for holding or investing assets on behalf of someone else, usually called the beneficiary. The assets must be managed in the best interests of the beneficiary, not for the personal gain of the fiduciary. However, the term acting responsibly can be broadly interpreted, and may mean preserving principal to some fiduciaries and producing reasonable growth to others. Executors, trustees, guardians, directors of listed companies and agents with powers of attorney are examples of individuals with fiduciary responsibility.
A person in a position of trust and confidence, as between principal and broker; broker as fiduciary owes certain loyalty which cannot be breached under rules of agency.
An individual responsible for operating the Savings Plan using sound judgment in the interest of all Plan participants and beneficiaries. Fiduciaries may include certain employees who make discretionary decisions regarding certain Plan administration matters. They also may include investment advisors, trustees, and certain others.
A person charged with the duty of trust on behalf of a beneficiary. Executors and trustees are fiduciaries.
An individual or organization having duty, created by contract, to act primarily for the owner's benefit in respect to the trust and confidence involved in the duty and the scrupulous good faith and candor which it requires.
A person or corporation who occupies a position of trust and accountability (e.g. Trustee, Administrator, Executor, Guardian, Conservator).
the basic meaning is "trust". A fiduciary relationship is a trusting relationship. Acting out a fiduciary role is being trustworthy.
A person or entity who acts for the benefit of another to preserve or manage property, and who must observe certain rules of fiduciary behavior. Examples: The trustee of a trust or the executor of an estate.
A term derived from the Roman law meaning a person holding the character of a trustee, in respect to the trust and confidence involved in it and the scrupulous good faith and candor which it requires.
Any person who has discretion over plan assets, benefit levels, accounting and record keeping, investments or benefit/eligibility decisions. A fiduciary has a duty under federal law to operate the plan in a prudent (conservative) manner and in the exclusive interest of the persons covered under the plan. A TPA is not a fiduciary.
An executor, administrator, trustee, guardian, attorney-in-fact, or other person who must manage property or exercise rights or powers for the benefit of others.
A trustee; one who has the duty to act primarily for the benefit of another with respect to the subject matter of the trust.
a person who holds assets in trust for a beneficiary; "it is illegal for a fiduciary to misappropriate money for personal gain"
relating to or of the nature of a legal trust (i.e. the holding of something in trust for another); "a fiduciary contract"; "in a fiduciary capacity"; "fiducial power"
an agent for a party that has a duty of loyalty imposed by law or agreement to that party
an individual or company responsible for managing another's assets (a trustee)
an individual or organization charged with the duty to act for the benefit of another
a person, committee, or organization that has agreed to accept legal ownership and control and management of an asset or group of assets belonging to someone else
a person having a duty to act primarily for another's benefit in the manner of a trustee
a person having a legal duty to act for the benefit of another
a person in which trust and confidence is placed by another, and who by nature of the relationship must place the interests of the trusting party ahead of their own
a person in whom a special confidence or trust is placed by another and who, under the circumstances or their relationship, is required to act in good faith and with due regard to such other person
a person or a member of a Board given possession of property (in this case, plan assets) "in trust", i
a person or an entity in a position of trust and confidence acting for the benefit of another
a person or an institution legally responsible for the financial affairs of another
a person or entity who, as the result of a particular undertaking, has a duty to act primarily for the benefit of another in matters connected with the undertaking
a person or institution in whom you have placed trust and confidence
a person or institution that is in a special relationship of trust and confidence with another person
a person or organization named by will, trust or other legal document or appointment by the court to manage the funds or property of another
a person to whom money or property or the management of money or property has been entrusted for the benefit of others
a person trusted with acting on behalf of others for their benefit, or in the public interest
a person who exercises discretion over the management and administration of the plan
a person who has a position of trust with respect to any other person
a person who holds a position of confidence, such as a lawyer
a person who holds in trust an estate to which another has a beneficial interest, or receives and controls income of another, as in the case of receivers
a person who holds the legal title to real or personal property for the use and benefit of another, and includes a personal representative of a decedent's estate or a trustee of a testamentary or inter vivos trust ("living trust")
a person who is entrusted to act in the best interests of another
a person who manages the operation of the fund, including the investment of plan funds and the payment of plan benefits
a person who must put another's interests above their own and avoid situations where there are conflicts of interest
a person who occupies a position of trust in relation to someone else such that he is required to act for the latters benefit within the scope of that
a professional who is legally bound to serve the interests of his clients
a trustee, executor, or administrator who holds property in trust for others
A trust relationship of one person acting on behalf of another.
Party in position of trust and confidence with another; agent or trustee.
One who holds a position of trust and confidence to act primarily for the benefit of another in matters of responsibility.
A person or institution having a duty to act for another's benefit such as managing money or property. A fiduciary must exercise care in such management activity imposed by law or contract.
A person or entity charged with taking certain actions for the benefit of another person (a beneficiary).
The person who provides investment advice to a company's qualified retirement plan for a fee, and/or has discretionary control or authority over the administration of the plan, and/or has authority or control over the assets of the plan.
Normally, a fiduciary is synonymous to a trustee, which is the classic form of a fiduciary relationship. A fiduciary has rights and powers which would normally belong to another person. The fiduciary holds those rights which he or she must exercise to the benefit of the beneficiary. Fiduciary responsibilities exist for persons other than trustees such as between solicitor and client. full faith and credit act A legal principle requiring judges to recognize and enforce valid decrees and judgments issued by courts in other states.
A person or institution which occupies a position of special trust and has responsibility for the money, property or financial affairs of another. A claim representative is a fiduciary agent of the insurance company.
A person or organization that is authorized to control or manage pension assets, or that is authorized or responsible for administering a pension plan. Fiduciaries are legally obligated to discharge their duties solely in the interest of plan participants and beneficiaries, and are accountable for any actions that may be construed by courts as breaching that trust.
A person in the position of great trust and responsibility, such as the executor of a will or the trustee of a trust.
the asset trust holder for a beneficiary
The highest ethical and moral obligations and duty of good faith a person is charged with for fulfilling their responsibilities. The board of directors of a community association has a fiduciary responsibility to act in the best interests of the association.
Fiduciary includes a trustee under any trust, expressed, implied, resulting or constructive, executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate. It may also include agents acting under a power of attorney.
A person, company, or association holding assets in trust for a beneficiary. Or, a person or entity holding a special relationship of trust, confidence, or responsibility in obligations to others (i.e., a broker may have a fiduciary responsibility to a funding source).
A relationship of trust as governed by equitable principles. It applies to many day-to-day relationships (eg director and company, agent and principle).
A person who acts in the best interest of the client and has a position of trust and responsibility.
A person with the legal duty to act primarily for another's benefit in a position of trust, good faith, candor and responsibility. "Fiduciary" is often used as an alternative term for "trustee", although a trustee is but one type of fiduciary.
A trustee, personal representative, guardian, or other person, whether an individual or corporate entity, who by reason of a written agreement, will, court order, or other instrument has the responsibility for the acquisition, investment, reinvestment, exchange, retention, sale, or management of money or property of another.
A person in a position of trust and confidence that owes certain duties to the person they represent under the rules of agency.
In general, a person is a fiduciary, when he occupies a position of trust or confidence in relation to another person or his property. Trustees, guardians, and executors, occupy fiduciary positions.
A person, corporation, or association that is legally responsible for the management, investment, and distribution of funds of another.
A person or entity who is entrusted with duties on behalf of another, (such as an attorney or a person with power of attorney). The law requires the highest level of good faith, loyalty and diligence from a fiduciary. This duty is higher than the common duty of care that we all owe to each other.
Person, company or association holding assets in trust for another.
Person appointed by a court to act on behalf of another, including the administration of an estate and the management of a trust or ward. Fiduciaries are often asked to post bonds guaranteeing their performance.
An individual and/or an organization with legal authority and responsibility for making decisions regarding financial matters on behalf of a beneficiary.
A party in position of trust and confidence, who owes certain loyalty under rules of agency.
One who must exercise a high standard of care in managing another’s money or property.
A person, company, or association who exercises discretionary authority over the management of another's assets or holds assets in trust for a beneficiary. The fiduciary renders investment advice for a fee, or is charged with the responsibility of investing the money wisely for the plan.
A special relationship of trust and confidence owed by one person to another. The relationship imposes a number of special obligations on the fiduciary, including a duty of due care and a duty of loyalty. Supreme Court Justice Cardozo, in a famous quotation, described it as "something more than the ordinary honor of the marketplace" and instead "the very punctilio of honesty and forthrightness." A breach of a fiduciary duty exposes the wrongdoer to liability for punitive damages and compensatory damages.
A Trustee. A fiduciary duty is the duty of any trustee (such as a broker) to act only in the best interests of the person appointing the trustee.
A person or entity entrusted to act for another. For example, the fiduciary of an estate is the executor or administrator.
Under ERISA, an individual who (1) exercises discretion authority of control over a plan or assets, (2) renders investment advice for a fee or other compensation with respect to funds or property of a plan or has the authority to do so, or (3) has any discretionary authority or responsibility in administration of a plan.
Any person legally appointed and authorized to represent and act in another person's behalf.
Someone who is entrusted with the care of another person's money, property or other items of value.
An agent in the position of confidence to his principal. Also, a relationship of trust and confidence imposed by law.
A person holding property in trust for another, as a trustee, guardian or executor of an estate.
Includes personal representative, guardian, conservator and trustee.
A person who holds a position of trust with respect to someone else and is obliged, by virtue of the relationship of trust, to act solely in the other persons benefit.
One to whom property is entrusted for the benefit of another, and in whom confidence is placed.
RELATIONSHIP relationship of trust and confidence between principal and agent; lawyer and client; doctor and patient; etc.
A person or institution that serves as a financial representative, such as a trustee or Conservator.
A responsible person, related to a retirement plan, who holds or controls property (investments) for the benefit of another (participant). ERISA also defines a fiduciary as any person who: exercises any discretionary control over the management of the plan or management or disposition of the assets, or renders investment advice for a fee or other compensation with respect to the assets of the plan, or has any discretionary authority or responsibility in the administration of the plan. A fiduciary must perform his duties in the interest of the participants and beneficiaries of the plan. Duties include paying the reasonable expenses of the plan.
A fiduciary relationship is a relationship between a person in a position of special power and responsibility (the fiduciary) and the person for whose benefit the fiduciary acts.
A person to whom property is entrusted to hold, control, or manage for another. The fiduciary of a trust is the person who is legally responsible for managing the assets of the trust in a competent manner.
One who occupies a position of trust, e.g., executor, administrator, trustee.
A person having a duty to act for another's benefit. A person or institution that manages money or property for another and who must exercise care in such management activity imposed by law or contract.
The person or legal entity that manages investments for the benefit of others. Legally obligated to protect the assets in the best interest of those for whom it acts.
A relationship of trust and confidence, often existing where one person is allowed to represent, transact business, or hold or manage property for another. Also, the person holding such a position.
A person representing another under the premise of trust in a transaction
A person or institution having a duty created by his or her position to act for the benefit of a third person.
A person or institution that manages money or property for another; someone in whom another places great trust and has a right to expect great loyalty.
a. Any person responsible for the custody or administration, or both, of property belonging to another, as, a trustee. b. Of, relating to, or being a trustee or trusteeship. c. Held in trust. One such as an agent of a principal or a company director, that stands in a special relation of trust, confidence, or responsibility in certain obligations to others.
A person who bears a special relationship of trust, confidence, and responsibility to others, such as a trustee or agent.
A person in a position of trust or responsibility with specific duties to act in the best interest of the client. Real estate brokers and mortgage brokers are fiduciaries.
Under ERISA, any person who (1) exercises any discretionary authority or control over the management of the Plan or the management or disposition of assets; (2) renders investment advice for a fee with respect to the funds or property of a plan, or has the authority to do so, or (3) has any discretionary authority or responsibility in the administration of the Plan.
Anyone who has discretionary control over the operation of a pension plan and its assets.
One in whom trust and confidence is placed; usually a reference to a broker employed under the terms of a listing contract.
A person, company, or association legally appointed to hold and manage assets in trust for another person.
Person who stands in a special relationship of trust to another person.
An individual who manages property or acts for another individual and is placed in a position of trust.
The real estate broker in Alabama, and in the nation as a whole, occupies a unique position. As a fiduciary agent of the principal, the broker must, at times, make decisions independent of his or her client. however, the broker must never exceed the authority or disregard the instructions given by the client.
Person having the legal duty to act primarily for anotherâ€(tm)s benefit. Implies great confidence and trust, and a high degree of good faith. Usually associated with a trustee.
A person in a position of trust and confidence, for instance a principal and broker. A broker as a fiduciary owes certain loyalty that cannot be breached.
A person such as an attorney, executor of an estate, or a trustee holding money or property who is obligated to act ethically and responsibly on behalf of someone else. The fiduciary must safeguard the property left under his or her care.
One acting in a relationship of trust regarding financial transactions.
A person or corporation that takes on a responsibility of trust for another. When a person accepts the duties of trustee, or Personal Representative, they are assuming fiduciary responsibility. Fiduciaries are held to a higher standard of care with regard to the assets than are individuals who are dealing with their own assets. Many states have adopted Prudent Investor Rules, that govern the care which a fiduciary must give in managing assets.
An individual or a institution charged with the duty of acting for the benefit of another party as to matters coming within the scope of the relationship between them. The relationship between a guardian and his ward, an agent and his principal, an attorney and his client, one partner and another partner, a trustee and a beneficiary, a person who exercises discretionary control or authority over management of a benefit plan, each is an example of fiduciary relationship.
One who acts for an estate or trust to manage the property of the estate or trust.
A person or another institution to whom property is entrusted for the benefit of another.
a person or institution with the legal responsibility to act in the best interests of the client on issues within the scope of their relationship.
an individual, corporation, or association that is charged with managing or investing assets for the benefit of others.
an individual who is entrusted with the duties and responsibilities of another. The law requires the highest level of good faith, loyalty and diligence.
An individual, corporation or association with responsibility for assets of another party, often with the legal authority and duty to make decisions regarding financial matters on behalf of that party.
A person who essentially acts as a trustee. Real estate agents and salespersons are considered by law to be fiduciaries. As such they have a duty to act primarily for the benefit of the person who employed them and not their own.
A person with the authority to make decisions regarding a plan's assets or important administrative matters. Fiduciaries are required under ERISA to make decisions based solely on the best interests of plan participants.
Any trustee, executor, administrator, receiver, or guardian that stands in the position of a taxpayer and acts as the taxpayer, not as a representative.
A person to whom power or property is entrusted for the benefit of another.
a person having control over and responsibility for the assets of another, or the responsibility of that office. A fiduciary is a steward in the common-law and religious sense. The fiduciary's duty is to faithfully administer the affairs of another with utter disregard for his own interests.
An individual or a trust institution charged with the duty of acting for the benefit of another party as to matters coming within the scope of the relationship between them. The relationship between a guardian and his ward, an agent and his principal, an attorney and his client, one partner and another partner, a trustee and a beneficiary, each is an example of fiduciary relationship, See also ERISA Section 3(21)(A).
refers to a person acting as trustee, or a character analogous to trustee. A person having duty, created by his undertaking, to act primarily for another's benefit including managing money or property for another
A person assigned to be in charge of another person's money or property.
One who acts in a capacity of a trust and confidence for another.
A person who occupies a position of special trust and confidence, e.g., in handling or supervising the affairs or funds of another, involving the exercise of confidence and trust.
one who acts for the benefit of another party
Of or relating to a holding of something in trust for another; of or being a trustee or trusteeship such as an agent of a principal, that stands in a special relation of trust, confidence, or responsibility in certain obligations.
One who exercises discretionary authority or control over a retirement plan or disposition of its assets; renders investments advice for a fee with respect to moneys or property of a plan or has authority or responsibility to do so; or has discretionary authority or responsibility in the administration of a plan.
A person holding a position of trust; agents, trustees, attorneys, etc.
A person who occupies a position of trust, particularly one who manages the affairs or funds of another.
An obligation of a person or trust institution to act in the best interests of the client on issues within the scope of their relationship.
One who must act for the benefit of another party.
An individual, company or association responsible for managing someone else's assets. Fiduciaries include executors of wills and estates, trustees, receivers in bankruptcy and those responsible for managing the finances of a minor.
A person or institution legally responsible for the management, investment and distributions of funds. Examples include trustees, executors and administrators.
An individual or institution responsible for acting for the benefit of another in specified matters or for holding funds in trust.
A person charged with a high degree of care who acts on behalf of another. Executors and trustees are fiduciaries.
One who holds property in trust under the terms of a trust agreement.
Another name for an executor or personal representative.
An individual, company, or association holding assets in trust for a beneficiary. The fiduciary has the responsibility of managing the money for the benefit of the beneficiary.
A relationship that implies a position of trust or confidence wherein one person is usually entrusted to hold or manage property or money for another. The term fiduciary describes the faithful relationship owed by an attorney to a client or by a broker (and salesperson) to a principal. The fiduciary owes complete allegiance to the client. Among the obligations that a fiduciary owes to his or her principal and the duties of loyalty, obedience and full disclosure; the duty to use skill, care and diligence; and the duty to account for all monies. (See law of agency, principal)
a person who is in a position of responsibility and trust, in care of something vital to another person or persons, such as health or finances
Relating to, or found upon, a trust or confidence. A fiduciary relationship exists where an individual or organization has an explicit or implicit obligation to act in behalf of another person's or organization's interests in matters which affect the other person or organization. This fiduciary is also obligated to act in the other person's best interest with total disregard for any interests of the fiduciary.
The Employee Retirement Income Security Act (ERISA) defines a fiduciary as any person who exercises any discretionary authority or control over a plan's asset management, administration or disposition, or renders investment advice for a fee or other compensation with respect to a plan's assets. Fiduciaries may include staff, trustees, investment board members, administrators, consultants, actuaries and investment managers. ERISA permits civil action to be brought by a beneficiary against any fiduciary that has breached its fiduciary duty. Fiduciaries can be held personally liable for any losses to a plan resulting from such breach.
A person charged by law and equity with a higher duty of care for another person. A person who, as a result of a relationship with another person, is required by law to place the other person's interests equal to or ahead of his own in all dealings involving that other person. The relationship is often created when the other person approaches the fiduciary to use the fiduciary's special skills and knowledge, for a fee, to benefit the other person. Real estate agents, lawyers, trustees, investment brokers etc. are often fiduciaries.
A person placed in a position of special trust, such as when transacting business or handling property for another person.
One who occupies a position of confidence or trust and who exercises any power of control, management or disposition with respect to monies or other property of an employee benefit fund or who has authority or responsibility to do so.
A relationship of trust; A person in a position of trust and confidence, such as a real estate broker who has the legal duty of loyalty to act in the best interests of his principal.
A person or institution which manages the assets on behalf of another, including a Personal Representative, Trustee and a Guardians. Grantor The person who creates a trust (sometimes also referred to as the "Donor" or the " Settlor"). Grantor Trust (See Living Revocable Trust) A living trust who the assets of which are regarded as still being owned by the Grantor for income tax purposes. As a result, the income generated by trust assets is taxable to the Grantor, not to the trust or its beneficiaries.
Any person (individual or corporation) who exercises discretionary authority or control over the management or disposition of plan assets.
A person or corporation having the duty created by his undertaking to act primarily for another's benefit in matters connected with such undertaking, or an agent handling the business of another when the business which he transacts or the money or property which he handles is not his own or for his own benefit, but for the benefit of another person to whom he stands in a relation in-plying and necessitating great confidence and trust on the one part and a high degree of good faith on the other.
A person or entity to whom property management or other responsibility is entrusted.
A person or institution in a position of trust or confidence. The fiduciary is bound by a duty to act in good faith. Examples: trustees, executors, and administrators.
Someone who is to act in the best interest of a client. A realtor is a fiduciary for his/her clients.
A person in position of great trust and confidence, as the relationship between principal and agent.
A person or other legal entity who holds a special position of trust or confidence when handling the business affairs of another and who must put the other's interests above his or her own.
A person or institution acting for another person in that person's best interests.
A person vested with legal power to be used on behalf of another person.
comes from a Latin word meaning trust and confidence. This is a generic term used to refer to a person (or entity) that serves in a representative capacity. Personal representatives, trustees, guardians, conservators, and agents under powers of attorney are all fiduciaries.
A person who acts in a legal capacity in behalf of others.
A person or other entity involving a relationship of trust or confidence, in which the person or party acts on behalf of another person or party.
A person in a position of trust and confidence who represents another; known as the agent.
One who holds something of value in trust for another.
One is legally required to act in the best interest and trust of a beneficiary or minor.
A person legally appointed and authorized to hold assets in trust for another person and manage those assets for the benefit of that person.
A person who acts on the behalf of others in a legal manner.
A person or company entrusted with the custody or overseeing of the property of someone else. A trustee has a fiduciary relationship with the beneficiaries of that trust.
A person, or institution that oversees money on behalf of another person. A fiduciary's duty is to invest money wisely and in the best interest for the beneficiary.
Generally, a fiduciary is a person who exercises discretionary control over the assets of another party and has a responsibility to that party. ERISA sets forth strict standards which govern the responsibilities of a fiduciary and the determination of who is a fiduciary.
Holding in trust. A person upon whom a trust has been handed down. When an agent collects an insurance premium, he/she holds the money in a fiduciary capacity. The money does not belong to them, and they should remit the premium as soon as possible.
A person who is under an obligation to act in another's interest to the exclusion of the fiduciary's own interest. A fiduciary cannot use his or her position, knowledge or opportunity to the fiduciary's own advantage, or have a personal interest in, or inconsistent engagement with a third party, unless fully informed and free consent is given.
A person who is acting for another person and is therefore in a position of trust.
A person in a position of trust and responsibility, subject to heightened legal and ethical standards, including, among others, trustees, executors, guardians, and agents.
One who is authorized to act for another concerning the subject matter of the trust.
An individual, corporation, or association entrusted with the management, investment, or disposition of another's property.
One occupying a position of trust. For example, an executor, administrator or trustee.
An individual or institution responsible for acting in the best interests of another party. A fiduciary is bound by law and duty to put aside personal interests and act in good faith when making decisions for the benefit of another.
A fiduciary is person, synonymous to a trustee, who has rights and powers which would normally belong to another person and strict obligations in carrying out those rights. For instance, the fiduciary must exercise those rights only for the benefit of the beneficiary; must not allow any conflict of interest to affect their duties towards the beneficiary; and must exercise a high standard of care in protecting or promoting the interests of the beneficiary. Fiduciary responsibilities also exist for persons other than trustees, such as between lawyer and client or principal and agent.
A person who acts as a trustee or primarily for another person's benefit. As an adjective rather than a noun, fiduciary means something based on a trust or confidence.
A person or organization, which holds, manages and has discretionary authority and control over money belonging to another person or organization, or who renders investment advice in exchange for compensation. When an insurance company manages pension funds, the insurance company is acting as a fiduciary.
An individual, company, or association that manages assets for another party. Fiduciaries include executors of wills and estates, trustees, receivers in bankruptcy, and those responsible for managing the finances of a minor.
A person legally appointed in the P&S department.
An individual, corporation, or association that is charged with managing or investing another's assets.
fiduciary relationship is "one founded on trust or confidence reposed by one person in the integrity and fidelity of another." Basically, the fiduciary relationship is one where someone is given something to care for--copyrights, for example--and specific instructions about how to provide that care. Further instructions on how that care should be given may be issued as time goes on, and the caretaker is obliged to follow those instructions. Though the thing being cared for may come to be legally registered as the property of the caretaker, the original owner (in our case, the fellowship) maintains what is called equitable interest in the property and may take it back. (Instrument, Article V, Section 4; Operational Rules, Article I, Section 1; and Article IV, Sections 2, 3, and 10)
The one who acts on behalf of another as a guardian, trustee, executor, administrator, receiver, or conservator.
One with the legal duty to act in the best interest and benefit of another and therefore held to the very highest legal standards. Fiduciaries include trustees, attorneys-in-fact, and personal representatives. Grantor/Settlor/Trustor The person who sets up or creates a living trust.
The person or entity who is responsible for managing the assets for the benefit of others.
A person holding the character of a trustee, or a character analogous to that of a trustee, in respect to the trust and confidence involved in it and the scrupulous good faith and candor which it requires.
A person in a position of trust or responsibility with specific duties to act in the best interest of a client. A real estate broker is a fiduciary for his/her clients.
The representative of an estate appointed by the court as executor, administrator, guardian, trustee or conservator and their successors (SCPA 103 (21)).
A person who essentially holds the character of a trustee. Real estate brokers and salespersons are considered by law to be fiduciaries, thus they have a duty to act primarily for the principal's (the person who employed them) benefit and not their own. A fiduciary must act with the highest degree of care and good faith in relations with the principal and on the principal's business. 'Me penalties for failing in fiduciary duties may be quite severe.
a person with a duty, created by his own undertaking, to act primarily for the benefit of another in matters connected with the undertaking. Breach of fiduciary duty results in liability for damages caused the person to whom the duty is owed.
One who is responsible for an estate or trust.
One who is entrusted with duties on behalf of another. The law requires the highest level of good faith, loyalty and diligence of a fiduciary, higher than the common duty of care that we all owe one another. The debtor in possession in a Chapter 11 is a fiduciary for the creditors, owing loyalty to the creditors and not the shareholders of the debtor.
A person in a position of trust with respect to another's property; a general term used to refer to Executor, Administrator, Trustee, Conservator or Guardian.
A person or legal entity that administers investments for the benefit of another.
An individual, corporation or association entrusted with legal authority and duty to manage and invest assets for another party.
A person in a position of trust and responsibility, such as the executor of a will, trustee of a trust or agent under power of attorney.
A fiduciary is a person who manages the assets or affairs of another person and includes executors, administrators, trustees, guardians, conservators, and agents and owes specific duties to that person. The fiduciary is required to follow the instructions contained in the instrument that appointed the fiduciary and the various laws that pertain to fiduciaries, such as the Uniform Prudent Investor Act and the Uniform Principal and Income Act. The fiduciary's duties include the duty of loyalty, duty to use due care, duty to avoid self-dealing or conflicts of interest, and the duty to provide accurate information.
Relating to, or involving a confidence or trust. A person holding the character of a trustee in respect to the trust and confidence involved in it and the scrupulous good faith and candour which it requires.
The relationship of trust, honesty and confidence between agent and principal; the faithful relationship owed by an agent to the principal.
The person or legal entity that manages assets for the benefit of others. Legally obligated to invest the assets in the best interest of the beneficiaries.
A person who has been given the power to deal with another person's assets or affairs, in whose best interests he has a duty to act at all times. In particular, the fiduciary may not abuse his position in such a way as to achieve personal gain or profit for himself.
A position of trust (e.g. broker to principal).
Generally, the term fiduciary means an individual legally appointed to hold or manage assets in trust for someone else. Hence, retirement accounts, such as IRAs and 401(k) plans that are overseen by a third-party (such as an employer), are known as fiduciary accounts.
A person who represents another on financial/property matters.
A person, such as an agent, placed in a position of trust in relation to the person for whose benefit the relationship is created; essentially the same as a trustee.
A fiduciary has rights and powers which would normally belong to someone else. The fiduciary holds those rights and uses them to benefit someone else. Fiduciary responsibilities exist for persons other than trustees such as between solicitor and client. A fiduciary can usually be considered the same as a trustee.
A person or organisation who, in the best interests of an asset owner, is entrusted with the responsibility of administering and investing their assets.
An individual or institution occupying a position of trust. An executor, administrator or trustee. Hence, "fiduciary" duties.
A person having a legal relationship of trust and confidence to another and having a duty to act primarily for the other's benefit, for example, a guardian, trustee, or executor.
A person who holds something in trust for another.
A person or institution that is legally responsible for (and held to a high level of care regarding) the management, investment and distribution of funds; e.g. the Trustee indentified in a Trust.
The word fiduciary includes every Person appointed to act as an administrator, executor, guardian, conservator, or trustee.
Person, company, or association entrusted with the control of assets for the benefit of another, known as the beneficiary. Most states have laws governing the conduct of fiduciaries. Some states maintain a list of securities, known as the legal list, which are permissible investments for fiduciaries acting on behalf of their beneficiaries. Other states simply use the prudent man rule which requires that fiduciaries act as a prudent man or woman would with regard to how they invest on behalf of their beneficiary. In addition, the document appointing the fiduciary will establish parameters and guidelines for their activities with respect to the beneficiary's assets. Some examples of fiduciaries are executors of wills, administrators of estates, receivers in bankruptcy, trustees, and custodians for minors. See: Legal List; Prudent Man Rule
A person in a position of highest trust, good faith and confidence, such as between a trustee and a beneficiary. As fiduciary, a broker owes certain loyalty which cannot be breached under the rules of agency.
Normally, the term is synonymous to a trustee, which is the classic form of a fiduciary relationship. A fiduciary has rights and powers which would normally belong to another person. The fiduciary holds those rights which he or she must exercise to the benefit of the beneficiary. A fiduciary must not allow any conflict of interest to infect their duties towards the beneficiary and must exercise a high standard of care in protecting or promoting the interests of the beneficiary. Fiduciary responsibilities exist for persons other than trustees such as between solicitor and client and principal and agent. Fieri facias writ of fieri facias commands a sheriff to take and sell enough property from the person who lost the law suit, to pay the debt owed by the judgment. Force majeure French for an act of God; an inevitable, unpredictable act of nature, not dependent on an act of man. Used in insurance contracts to refer to acts of nature such as earthquakes or lightning.
An individual, commonly a trustee of a trust, who assumes legal responsibility to perform duties or manage affairs for the benefit of another person or beneficiary. An attorney assumes a fiduciary role when representing clients.
Person who is responsible for the administration of property owned by others. Corporate management is a FIDUCIARY with respect to corporate ASSETS which are beneficially owned by the stockholders and CREDITORS. Similarly, a TRUSTEE is the fiduciary of a TRUST and partners owe fiduciary responsibility to each other and to their creditors.
A person in whom is vested the confidence and trust of another person.
A relationship in which one person places confidence in another in regard to a particular transaction or one's general affairs or business. The relationship is not necessarily formally or legally established as in a declaration of trust but can be one of moral or personal responsibility.
A person who holding the funds or property of another in trust.
Person or institution acting in a legal capacity, in the best interests of someone including to hold or administer property owned by another.
A trusted person or agent - someone in whom confidence has been placed. Noun - A person who is in a position of trust in relation to another party; or a person in a confidential or trust position. Adjective - Confidential, such as a confidential relationship. Fiduciary refers to the relationship of an agent to his principal.
An individual, corporation or association, such as a bank or trust company, to whom certain assets are given to hold in trust, according to a trust agreement.
a person who occupies a position of special trust and confidence (for example, in handling or supervising the affairs or funds of another). There are many types of fiduciaries, including an executor of an estate or a court-appointed guardian of a minor.
One who is appointed to act in the best interests of another. A fiduciary is a person or entity appointed by the court to handle the affairs of persons who are not able to do so themselves. Fiduciaries are often requested to furnish a bond to guarantee faithful performance of their duties.
A person or entity holding assets for another that sometimes has the legal authority to make decisions regarding financial matters on behalf of the other.
Where one person is in a position of trust - e.g. he has been given something to look after for another person - a fiduciary relationship may arise between the two persons involved. If the arrangement is of a sufficient degree to create a legal relationship, the person who is in the fiduciary capacity will owe duties akin to those applicable to trustee.
1. A person legally appointed and authorized to hold assets in trust for another person. The fiduciary manages the assets for the benefit of the other person rather than for his/her own profits. 2. A loan made on trust rather than against some security or asset.
An individual, corporation, or association, to whom certain property is given to hold in trust, according to the trust agreement under which the property is held.
A person, company or association who is responsible for investing the assets of the beneficiary in a prudent manner.
an entity, such as a real estate broker or mortgage broker, designated to act in the best interest of a client.