Definition of Fiduciary relationship
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Fiduciary relationship Definition from Business & Finance Dictionaries & Glossaries
Dictionary of Real Estate Terms
A relationship of trust and confidence between principal and agent; lawyer and client; doctor and patient; etc.
Fiduciary relationship Definition from Encyclopedia Dictionaries & Glossaries
English Wikipedia - The Free Encyclopedia
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other asset for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has entrusted funds to the fiduciary for safekeeping or investment. Likewise, asset managers—including managers of pension plans, endowments and other tax-exempt assets—are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole and interest of the one who trusts.
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