fiduciary

Meanings

• noun

  A person or organization that holds and manages funds or assets for another party. They have a legal or ethical obligation to act in the best interests of the other party.

  - "The bank is a fiduciary for the mutual fund."
  - "As a trustee, John is a fiduciary for the beneficiaries of the trust."

• noun

  A person who represents or acts for another person, especially in a legal or financial matter.

  - "My lawyer is a fiduciary and must act in my best interests."
  - "The executor of a will is a fiduciary for the estate."

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Variants

List of all variants of fiduciary that leads to same result
fiduciary , fiduciaries

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Etymology

origin and the way in which meanings have changed throughout history.

From the Latin word 'fiducia' meaning trust or confidence.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. The term 'fiduciary' is derived from the Latin word 'fiducia', which means trust or confidence.

2. A fiduciary relationship is a special type of relationship that is based on trust, loyalty, and a legal or ethical duty to act in the best interests of another party.

3. Fiduciaries can be individuals, such as lawyers, trustees, or financial advisors, or organizations, such as banks or mutual funds.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Trust: A fiduciary relationship is a type of trust relationship, where one party (the trustor) transfers assets or legal title to another party (the trustee) to manage and protect for the benefit of a third party (the beneficiary).

2. Agency: A fiduciary relationship is a type of agency relationship, where the agent (fiduciary) has a legal or ethical duty to act in the best interests of the principal (client).

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

In literature and art, the concept of a fiduciary is often explored in relation to trust, loyalty, and betrayal. For example, in Shakespeare's Hamlet, Polonius acts as a fiduciary for the King and Queen, but ultimately betrays their trust.

How to Memorize "fiduciary"

1. visualize
   

   - To visualize a fiduciary, imagine a person or organization holding a trust or asset for another party, with a legal or ethical obligation to act in the best interests of that party.

2. associate
   

   - To memorize the word 'fiduciary', associate it with the idea of trust, confidence, and legal or ethical obligations.

3. mnemonics
   

   - One mnemonic for remembering the meaning of 'fiduciary' is 'Friend In Deed, Under Conditions Of Trust And Agency'.

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