What does fiduciary mean?
A person or organization entrusted with the management of money or property for another, or a person who acts on behalf of another in a position of trust. A fiduciary duty is a legal obligation to act in the best interests of another.
Example
"The company's fiduciary responsibilities included managing the assets of the trust fund."
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.