A Fiduciary is a person or institution legally entrusted to act in another’s best interest. Legally a fiduciary must exercise the highest duties of loyalty, honesty, and care. A fiduciary must avoid self-dealing, act prudently, keep accurate records, and carry out the wishes of the individual they serve, making decisions solely for the benefit of that person or their beneficiaries. Fiduciaries that breach their duties may incur serious civil and criminal penalties.
