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Fiduciary: meaning, definitions and examples

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fiduciary

 

[ fɪˈdjuːʃiˌɛri ]

Noun / Adjective
Context #1 | Noun

legal responsibility

A fiduciary is a person or organization that acts on behalf of another person or group, putting their clients' interests ahead of their own, with a duty to preserve good faith and trust. Fiduciaries are bound by law to act in the best interest of the beneficiary, making financial decisions and handling assets responsibly.

Synonyms

agent, guardian, trustee

Examples of usage

  • The lawyer served as a fiduciary for the estate.
  • Investors rely on fiduciaries to manage their investments.
  • She acted as a fiduciary trustee for her late father's trust.
Context #2 | Adjective

financial trust

Describing a relationship or duty that involves trust, particularly regarding financial affairs. A fiduciary duty requires individuals to act in the best interests of another party, maintaining a high standard of care.

Synonyms

obligatory, responsible, trust-based

Examples of usage

  • The bank has a fiduciary obligation to its clients.
  • He was accused of breaching his fiduciary duties.
  • The partnership was built on fiduciary principles.

Translations

Translations of the word "fiduciary" in other languages:

🇵🇹 fiduciário

🇮🇳 विश्वासपात्र

🇩🇪 Treuhänder

🇮🇩 fidusia

🇺🇦 фідуціарний

🇵🇱 fiducjarny

🇯🇵 信託の

🇫🇷 fiduciaire

🇪🇸 fiduciario

🇹🇷 güvenilir

🇰🇷 신탁의

🇸🇦 موثوق

🇨🇿 fiduciární

🇸🇰 fiduciárny

🇨🇳 受托人

🇸🇮 fiduciarni

🇮🇸 fjárfesting

🇰🇿 сенімгер

🇬🇪 ნდობით აღჭურვილი

🇦🇿 etimadlı

🇲🇽 fiduciario

Etymology

The term 'fiduciary' originates from the Latin word 'fiducia', which means trust or confidence. In Roman law, it referred to relationships of trust, particularly those involving the transfer of property. The concept has evolved over centuries to encompass various professional relationships where one party must act in the best interest of another, such as in financial and legal contexts. The use of fiduciary in English can be traced back to the late 19th century, reflecting the growing importance of such legal relationships in commerce and finance. Today, fiduciaries are recognized in fields such as finance, law, and healthcare, where specific duties and ethical responsibilities are mandated to protect the interests of others.

Word Frequency Rank

Position #9,050 indicates this is an advanced-level word. While not essential for basic communication, it will enhance your ability to understand and create more nuanced content.