Fiduciary duty
A legally enforceable duty of trust. An agent's fiduciary duty under the Uniform Power of Attorney Act includes acting in good faith, acting within the granted scope of authority, acting loyally in the principal's interest, keeping records, and exercising ordinary care.
Defined in 2 GAGE programs, which carry 4 distinct definitions of it. The wording above is taught in Senior AI Scam Defense.
How each discipline defines it
The same term does different work depending on who is using it. These are the definitions as each program teaches them, unedited.
The legal standard requiring a licensed professional, such as an attorney or a financial advisor operating under a fiduciary standard, to act in their client's best interest. This is a real and enforceable standard distinct from, and considerably broader than, the CSFDP duty of care, which is bounded by this program's own defined scope.
A duty owed by a person who acts on behalf of another, requiring loyalty and care. In corporate governance it is not one duty but several, and naming which one is engaged is the first analytical step in any allegation.
A legally enforceable duty of trust. An agent's fiduciary duty under the Uniform Power of Attorney Act includes acting in good faith, acting within the granted scope of authority, acting loyally in the principal's interest, keeping records, and exercising ordinary care.
A legal and ethical obligation to act in another person's best interest, keep their money separate from your own, and be able to account for what you did with it if asked; the duty shared by all four roles the CFPB's Managing Someone Else's Money guides cover.
Where it is taught
The exact lessons this term appears in. The first module of every program is free with a free account.
- Power of attorney: what it gives away and what it does not · The Trusted Person, Senior AI Scam Defense
- How to Be a Trustworthy Helper: The Page You Give Your Family · The Trusted Person, Senior AI Scam Defense
- Scope of Practice, Liability, and Marketing Ethics · CSFDP: Teaching, Ethics, and the Practicum, Senior AI Scam Defense
Terms it appears with
Not an alphabetical neighbourhood: these are the terms taught in the same lessons, ranked by how often they appear together.