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WOD

fiduciary


Merriam-Webster’s Word of the Day for October 22, 2019 is:

fiduciary • fuh-DOO-shee-air-ee  • adjective

: of, relating to, or involving a confidence or trust: such as

a : held or founded in trust or confidence

b : holding in trust

c : depending on public confidence for value or currency

Examples:

“A pet trust can be part of an existing trust or it can be drawn up separately. In a trust, you name the caretaker and you establish a fiduciary obligation for them to care for the pets in the manner and style you choose.” — Charlie Powell, The Moscow-Pullman Daily News (Idaho & Washington), 24 Aug. 2019

“This is an essential piece of insider trading that many people get wrong. The key element of insider trading is not the information. It is the fiduciary relationship breached when an insider uses that information.” — Eric Reed, TheStreet.com, 5 Feb. 2019

Did you know?

Fiduciary relationships often concern money, but the word fiduciary does not, in and of itself, suggest financial matters. Rather, fiduciary applies to any situation in which one person justifiably places confidence and trust in someone else and seeks that person’s help or advice in some matter. The attorney-client relationship is a fiduciary one, for example, because the client trusts the attorney to act in the best interest of the client at all times. Fiduciary can also be used as a noun for the person who acts in a fiduciary capacity, and fiduciarily or fiducially can be called upon if you are in need of an adverb. The words are all faithful to their origin: Latin fīdere, which means “to trust.”

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