• A fiduciary is required by law to put his client’s interests ahead of his own.

  • Fiduciary duties appear in a number of business relationships, including the trustee and beneficiary, corporate board members and shareholders, as well as executors and heirs.
  • An investment fiduciary is any person who has legal responsibility for managing other people’s money, such as a member of a charity’s investment committee.
  • Registered investment advisors and insurance agents have fiduciary obligations to clients.
  • Broker-dealers simply have to meet a less stringent standard of suitability that does not require them to put the client’s interests ahead of their own.