fiduciary

[ fi-doo-shee-er-ee, -dyoo- ]

noun

, plural fi·du·ci·ar·ies.

1. Law. a person to whom property or power is entrusted for the benefit of another:

   All investment advisors registered with the Securities and Exchange Commission (SEC) must act as fiduciaries.

adjective

1. Law. of or relating to the relationship of trust and good faith between a fiduciary and the person for whom the fiduciary acts:

   The executor of a will has a fiduciary duty to act in the best interest of the beneficiary.

   The banks do not assume any financial responsibility—they act in a fiduciary capacity only.

   The American Medical Association said that physicians have a fiduciary responsibility to patients.

2. depending on public confidence for value or currency, as fiat money.

fiduciary

/ fɪˈduːʃɪərɪ /

noun

1. a person bound to act for another's benefit, as a trustee in relation to his beneficiary

adjective

1. 1. having the nature of a trust
   2. of or relating to a trust or trustee

Derived Forms

• fiˈduciarily, adverb

Other Words From

• fi·du·ci·ar·i·ly [fi-doo-shee-, er, -, uh, -lee, -dyoo-], adverb
• non·fi·du·ci·ar·y adjective noun plural nonfiduciaries

Word History and Origins

Origin of fiduciary¹

First recorded in 1585–95; from Latin fīdūciārius “holding on trust; a trustee,” equivalent to fīdūci(a) “trust” + -ārius -ary

Word History and Origins

Origin of fiduciary¹

C17: from Latin fīdūciārius relating to something held in trust, from fīdūcia trust; see fiducial

Example Sentences

In a sequence of rulings, Carter had found that the VA had a fiduciary duty to use the land for veterans housing and that the leases were invalid because they did not primarily serve veterans.

From Los Angeles Times

The lawsuit, filed on behalf of veterans by the nonprofit Public Counsel, the Inner City Law Center and two private law firms, alleged that the VA failed in its fiduciary duty to provide housing for disabled and homeless veterans on the campus.

From Los Angeles Times

But Rosenberg had repeatedly put the court on notice that the government disagreed with Carter’s underlying ruling that the VA had a fiduciary duty to build housing for veterans on the campus at all.

From Los Angeles Times

Plaintiffs allege violations of fiduciary duties and securities laws, including media appearances by Henrik Fisker touting the company’s prospects even as its fortunes declined.

From Los Angeles Times

In any event, the FTC said, the merged company’s fiduciary responsibility is “to deliver returns to its shareholders — not to lower prices to consumers.”

From Los Angeles Times