FIDUCIARY

Fiduciary

A fiduciary is a legal or ethical relationship of trust between two or more parties. Typically, a fiduciary prudently takes care of money 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 ...

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fiduciary

Noun

  1. One who holds a thing in trust for another; a trustee.
  2. One who depends for salvation on faith, without works; an antinomian.

Adjective

  1. Related to trusts and trustees.
    A fiduciary contract. A fiduciary duty.
  2. Pertaining to paper money whose value depends on public confidence or securities.


The above text is a snippet from Wiktionary: fiduciary
and as such is available under the Creative Commons Attribution/Share-Alike License.

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