FIDUCIARY

Normally, the term is synonymous to a trustee , which is the classic form of a fiduciary relationship. A fiduciary has rights and powers which would normally belong to another person. The fiduciary holds those rights which he or she must exercise to the benefit of the beneficiary . A fiduciary must not allow any conflict of interest to infect their duties towards the beneficiary and must exercise a high standard of care in protecting or promoting the interests of the beneficiary . Fiduciary responsibilities exist for persons other than trustees such as between solicitor and client and principal and agent.