| word | fiduciary |
|---|---|
| definition | (1) Having to do with a confidence or trust. (2) Held in trust for another. |
| eg_sentence | Pension-fund managers have a fiduciary responsibility to invest the pension's funds for the sole benefit of those who will receive the pensions. |
| explanation | A fiduciary relationship is one in which one person places faith in another. Stockbrokers and real-estate agents have fiduciary duties to their clients, which means they must act in their clients' best financial interests. Members of a company's board of directors have a fiduciary responsibility to protect the financial interests of the company's shareholders. There are legal requirements for those with fiduciary responsibility, and they can be sued for breach of fiduciary duty if they fail |
| IPA | fəˈduʃiˌɛri |
Tags: mwvb::unit:4, mwvb::unit:4:word, mwvb::word, mwvb::word-cloze, mwvb::word-reverse, obsidian_to_anki
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