Business / Taxes / Fiduciary: A fiduciary is an individual or organization legally responsible for holding or investing assets on behalf of someone else, usually called the beneficiary. The assets must be managed in the best interests of the beneficiary, not for the personal gain of the fiduciary. However, the concept of acting responsibly can be broadly interpreted, and may mean preserving principal to some fiduciaries and producing reasonable growth to others. Executors, trustees, guardians, and agents with powers of attorney are examples of individuals with fiduciary responsibility. Firms known as registered investment advisers (RIAs) are also fiduciaries.
Business / Real Estate / Obedience: The fiduciary relationship obligates the agent to act in good faith at all times, obeying the principals instructions in accordance with the contract. However, that obedience is not absolute. The agen MORE