What is meant by “fiduciary responsibilities?
A quick check of the term “fiduciary responsibilities” on the Internet revealed three pages of definitions! But, a common thread running through all of the definitions is that fiduciaries “have discretionary authority over another’s money, property, or other assets, and a legal duty to act in a manner that benefits the other person, or organization.” Of particular importance are the fiduciary duties of care, loyalty, and fidelity to purpose.
