financial planning
fiduciary
A person or organization that acts on behalf of another, with a legal obligation to act in that person's best financial interest.
Example
"As a fiduciary, the financial advisor was legally required to recommend investments that benefited the client, not themselves."
💡 Memory Tip
FIDUC-iary — fiduc sounds like 'fidelity.' A fiduciary has fidelity (loyalty) to your best interests.
Etymology
From Latin 'fiducia' meaning 'trust, confidence' — someone trusted to act in your interest.
Common Misspellings
fiducaryfiduciaryfudiciaryfiduceryfiducuiary
See Also
investment advisortrusteeconflict of interestfinancial planning