WordValenoun
fiduciary
a person legally bound to act in another's financial interest
In more detail
1. (noun) a person who is trusted to manage money or property for another person
2. (adjective) involving trust and confidence; requiring someone to act in the best interest of another person
Examples
- 1. The bank appointed a fiduciary to handle the estate of the deceased client.
- 2. Financial advisors have a fiduciary duty to put their clients' interests first.
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