[fi-doo-shee-er-ee, -dyoo-] 
noun, plural -ar⋅ies, adjective | 1. | Law. a person to whom property or power is entrusted for the benefit of another. |
| 2. | Law. of or pertaining to the relation between a fiduciary and his or her principal: a fiduciary capacity; a fiduciary duty. |
| 3. | of, based on, or in the nature of trust and confidence, as in public affairs: a fiduciary obligation of government employees. |
| 4. | depending on public confidence for value or currency, as fiat money. |
| fi·du·ci·ar·y (fĭ-dōō'shē-ěr'ē, -shə-rē, -dyōō'-, fī-) adj.
One, such as an agent of a principal or a company director, that stands in a special relation of trust, confidence, or responsibility in certain obligations to others. [Latin fīdūciārius, from fīdūcia, trust; see fiducial.] |
Fiduciary
1. A person legally appointed and authorized to hold assets in trust for another person. The fiduciary manages the assets for the benefit of the other person rather than for his or her own profits.
2. A loan made on trust rather than against some security or asset.
Investopedia Commentary
1. Children or elderly people typically need a fiduciary. The person who looks after the assets on the other's behalf is expected to act in the best interests of the person whose assets they are in charge of. This is know as "fiduciary duty".
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Defining Illegal Insider Trading
See also: Beneficiary, Blind Trust, Trust
fiduciary