Definitions

1. noun

A person who acts on behalf of another person or organization, often in a position of trust or authority.

“The bank’s fiduciary duty was to protect the interests of its clients.”

2. adjective

Relating to a position of trust or authority, where one person acts on behalf of another.

“The fiduciary responsibilities of the board of directors are outlined in the company’s bylaws.”

3. noun

A type of trust or estate that is managed by a trustee on behalf of beneficiaries.

“The fiduciary trust was established to provide for the long-term care of the beneficiary’s children.”