fiduciary
Say it: fih-DYOO-shuh-ree /fɪˈduʃiɛri/ · adjective
What “fiduciary” means
Legally required to put another person's financial interests first.
More precisely: Involving a legal duty to act in another person's best financial interest.
When to use it
In formal financial or legal discussions, when someone must manage money for another person's benefit rather than their own.
Memory trick
Latin fiducia means trust: someone trusts you to put their financial interests first.
Similar words
custodial, trust-based
Where it comes from
From Latin fiducia, "trust."
Quick check
A pension trustee must legally choose investments for members' benefit, even when another choice would benefit the trustee. Their duty is…
fiduciary or discretionary?
Show the answer
fiduciary
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