fiduciary

Intermediatezipf 3.05

Pronunciation

/fɪˈdjuːʃiˌɛri/(fih-DOO-shee-er-ee)

Part of speech

adjective / nounlaw / finance

Chinese

信托的；受信人

Definition

Involving trust, especially regarding the relationship between a trustee and a beneficiary; a person who holds a position of trust and is legally obligated to act in another's best interest.

Word family

  • fiducially(adv)

Collocations

  • fiduciary duty
  • fiduciary responsibility
  • breach of fiduciary duty
  • fiduciary relationship
  • act as a fiduciary

Examples

  1. 1.A financial adviser has a fiduciary duty to recommend investments that serve the client's interests, not the adviser's commissions. (trust obligation)
  2. 2.The board members breached their fiduciary responsibility by approving a merger that enriched themselves while destroying shareholder value. (trust relationship violation)

Synonyms

  • trustee/trʌˈstiː/— person managing assets for another
  • custodian/kʌˈstoʊdiən/— guardian of assets

Etymology

from Latin "fiduciarius" — from "fiducia" (trust) — from "fidere" (to trust) — bound by trust