noun
- people who hold assets in trust for a beneficiary or who have a legal duty to act in another’s best interest
Usage: legal; finance
Examples
- The pension fund’s fiduciaries must invest the money prudently.
- Corporate directors serve as fiduciaries for the shareholders.
- Financial advisors are fiduciaries who must put their clients’ interests first.
- The court appointed fiduciaries to manage the estate.
- Bank trust officers act as fiduciaries for their customers.
- Investment fiduciaries are legally bound to avoid conflicts of interest.