To handle every aspect of the assets entrusted to us with honesty and integrity for the benefit of the client
The word "fiduciary" comes from the Latin fiducia, which means "faith" or "trust." Typically, a fiduciary prudently manages money for another person. The party who places confidence and trust in the fiduciary is known as the "principal." A fiduciary relationship is defined as a legal or ethical relationship of confidence and trust regarding the management of money or property between two or more parties. In a fiduciary relationship, the principal justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice or protection is sought in some manner.
A fiduciary relationship can extend to many relationships in which one side places confidence in the other and such confidence is accepted. Trustees, guardians, attorneys-in-fact under powers of attorney, caregivers, and personal representatives are all examples of fiduciaries. Other individuals with fiduciary responsibilities include bankers, investment advisers and funds managers, real estate agents, attorneys and corporate officers.
A fiduciary owes a duty of loyalty, care, and full disclosure to the principal. A fiduciary is held to a standard of conduct and trust above that of a stranger or of a casual business person, and must avoid situations in which the potential benefit to the fiduciary is in conflict with what is in the best interest of the principal.
Commencement Bay Guardianship Services is knowledgeable in all aspects required can act responsibly and ethically as a fiduciary for the benefit of the principal.
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