A fiduciary is a person or entity that holds a legal or ethical relationship of trust with one or more other parties. This means that they are required to act in good faith and in the best interests of those they have a duty towards, while exercising a reasonable degree of care. Fiduciaries often hold positions of great responsibility and must manage assets or provide advice on behalf of others. Examples include trustees, executors, administrators, guardians, and financial advisers. The term comes from the Latin word "fidei" meaning faith, reflecting the high level of trust involved in these relationships.