What is a fiduciary?
A fiduciary is a person who's in a position of trust, either legally or ethically and invests money on behalf of a beneficiary. For example, for investors it could be a banker, accountant or wealth manager.
Where have you heard about a fiduciary?
You may have heard about a fiduciary when looking to make an investment. For example, if you are a shareholder then the relationships you have with the members of the board are fiduciary. Or you may have heard about breaching fiduciary duty in the news, for example: insider trading.
What you need to know about a fiduciary.
A fiduciary isn't necessarily one person. It can be a group of people, such as the members of a board, or a whole organisation or association. In the investment world, your fiduciary has an ethical and legal duty to put your interests above their own when it comes to fees and investment choice. They should manage your assets for your benefit and not their own profit.
Find out more about fiduciary.
Your relationship with a fiduciary is currently subject to fiduciary rule and fiduciary risk.