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fiduciary |
Also found in: Legal, Financial, Encyclopedia, Wikipedia | 0.02 sec. |
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fiduciary (fidoo´shēerē), n a person who has a duty to act primarily for another's benefit, as a trustee. Also, pertaining to the good faith and confidence involved in such a relationship. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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CPAs have a fiduciary obligation to put clients' best interests ahead of their own when acting as a trusted adviser. However, like everyone else, we have a fiduciary obligation to our investors and could not turn down this offer. The MBA noted that most discussions about suitability propose more rigid, prescribed underwriting standards, a subjective evaluation of whether a loan is suitable for the borrower, establishment of a fiduciary obligation by the lender to the borrower, and a private right of action to address any violations. |
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