fiduciary
Upper-Intermediate (B2)
IPA: /fɪˈdjuːʃiəri/
KK: /fɪˈduːʃiˌɛri/
adjective
Definition
Relating to a person or organization that has the responsibility to manage someone else's money or property with care and trust.
Example
The lawyer acted in a fiduciary capacity, ensuring that the client's interests were protected.
Conversation
Did you hear about the new fiduciary rules for financial advisors?
Yeah, I read that they’re trying to protect clients more effectively.
It makes sense, especially since trust is so important in finances.
Absolutely! It’s good to know there are fiduciary standards in place.
Synonyms & Antonyms
Synonyms
trustee
trustful
loyal
Antonyms
disloyal
untrustworthy
selfish
noun
Definition
A person or organization that has the legal responsibility to manage money or property for another person or group, acting in their best interest.
Example
The lawyer acted as a fiduciary for his client, ensuring that all decisions were made in her best interest.
Conversation
I just learned that being a fiduciary is a big responsibility.
Yeah, it means you have to act in someone else's best interest, right?
Exactly! I was surprised to see how much trust is involved.
Root Explanation
Fiduciary → It is formed from "fides" (meaning trust) and the suffix "-ary" (meaning relating to). The word "fiduciary" refers to a relationship or duty that is based on trust, particularly in financial or legal contexts.
Memory Tip
Think of 'trust' ('fides') when remembering that a fiduciary is someone who has a duty to act in the best interest of another, often in financial matters.
Visually Confused Words
nonfiduciary
ficary