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fiduciary
Fiduciary (adjective) – Meaning, Examples & Etymology
IPA:
What does fiduciary mean?
Involving trust, confidence, and the responsibility to act in someone else's best interest.
"The fiduciary duty of the company's management is to maximize shareholder value."
Detailed Meaning of Fiduciary
When something is described as fiduciary, it implies a legal or ethical obligation to prioritize the well-being and financial interests of another party above one's own. This term is commonly used in the context of financial or legal matters, such as when a fiduciary duty exists between a trustee and a beneficiary, or a financial advisor and their client. Fiduciary relationships are held to a high standard of trust and honesty, requiring the fiduciary to avoid conflicts of interest and make decisions that are solely for the benefit of the person or entity they serve. "Fiduciary" underscores the importance of loyalty, prudence, and integrity in such relationships, as any breach of trust can have serious legal and ethical consequences.
Example Sentences for Fiduciary
1. The attorney had a fiduciary duty to protect his client's assets.
2. Managing the trust fund was a fiduciary responsibility.
3. The CEO's fiduciary obligations extended to shareholders.
4. Fiduciary relationships require transparency and honesty.
5. Her role as executor came with fiduciary obligations.
6. The board must act with fiduciary prudence.
Origin and Etymology of Fiduciary
The adjective 'fiduciary' has its roots in Latin, specifically from the word 'fiducia,' meaning 'trust' or 'confidence.' In Latin, 'fiducia' represented the idea of placing trust or confidence in someone or something. As this term entered English, it became 'fiduciary,' describing a relationship or role that involves trust, confidence, and the responsibility to act in someone else's best interest. A fiduciary is a person or entity entrusted with the duty to manage, protect, or make decisions regarding assets, investments, or other matters for the benefit of another party. The term underscores the essential element of trust and the obligation to prioritize the interests and well-being of those who have placed their confidence in the fiduciary's care. The etymology of 'fiduciary' emphasizes the central role of trust and responsibility in such relationships and roles.
Quiz Question - Test Your Understanding
Find the correct meaning of the adjective fiduciary:
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More Usage Examples of Fiduciary
1. Investors rely on fiduciary advisors for sound advice.
2. The trustee faced a complex fiduciary decision.
3. Fiduciary misconduct can lead to legal consequences.
4. A fiduciary breach can damage trust irreparably.
5. Fiduciary relationships are built on trust and confidence.
6. The company's fiduciary duties were clearly outlined.
7. Ethical behavior is central to a fiduciary role.
8. Fiduciary negligence can result in financial losses.
9. The fiduciary duty of loyalty must not be compromised.
10. Fiduciary responsibilities extend beyond financial matters.
11. Trustee's fiduciary obligations include risk management.
12. Fiduciary standards require careful investment.
13. Fiduciary advisors must prioritize client interests.
14. The fiduciary relationship demanded unwavering integrity.
15. The bank has a fiduciary duty to act in the best interest of its clients.
16. The trustee has a fiduciary responsibility to manage the assets of the trust.
17. The financial advisor has a fiduciary duty to provide honest and unbiased advice to clients.
18. The fiduciary must disclose any potential conflicts of interest to the clients.
19. The lawyer has a fiduciary duty to protect the client's confidential information.
20. The fiduciary is held to a higher standard of care and loyalty than a regular party in a transaction.
21. The fiduciary must act with integrity, honesty, and good faith in their dealings.
22. The company has a fiduciary responsibility to its clients ahead of its own financial interests.
23. The fiduciary's responsibility is to manage the assets for the benefit of the beneficiaries.
24. The fiduciary can be held liable for any losses caused by a breach of their duty.
25. The fiduciary duties of directors and officers of a corporation include the duty of loyalty and the duty of care.
26. The fiduciary's role is to act in the best interest of the person or entity they represent, rather than their own interest.
Synonyms and Related Words for Fiduciary
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✔ Add 3,700 must-know words to your vocabulary.
✔ All-in-one dictionary, thesaurus, & workbook.
✔ 147 categorized lessons, 428 practical activities, 632 pages.
✔ Suitable for students & professionals of all ages.
✔ Ideal preparation for: TOEFL, TOEIC, IELTS, SAT, ACT, GRE, GMAT