Fiduciary

InvestingGlossary term

Definition

A person or organization legally obligated to act in your best financial interests. Financial advisors who are fiduciaries must prioritize your needs over their own profit.

Related terms

TrustA legal arrangement in which one party, called the trustee, holds and manages assets on behalf of another party, known as the beneficiary. Trusts can be used to control how and when your assets are distributed, potentially reduce estate taxes, and avoid the probate process. There are many types of trusts, each designed to address specific financial and estate planning goals.

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