"Fiduciary responsibility" means the legal duty of someone to act in the best interest of another person or entity. It involves trust and accountability, where the person with the responsibility is expected to prioritize the well-being, interests, and assets of the other party over their own.
Full definition
Buyer agency is defined as follows: A principal agent relationship in which the broker is the agent for a buyer,
with fiduciary responsibilities to the buyer.
Check the headlines of many news and industry trade publications lately, and there is a lot of buzz about
fiduciary responsibility as it relates to retirement plan participants.
In financial services right now there's so much angst
about fiduciary responsibility... and even after regulation comes they're still out there lobbying.
You have crafted a clause that no listing REALTOR, who is paying attention, wouldn't have a
clear fiduciary responsibility to strike from an Agreement of Purchase and Sale.
There, she held
fiduciary responsibilities for corporate companies / entities, trusts, and partnerships for family investments and philanthropy and oversaw the organizations» operations including finance, accounting, technology and risk.
The complaint accused the former employee of breach of contract, which set off alternating counter suits that ranged from failure to
meet fiduciary responsibilities to libel to fraud.
Now working for an independent RIA (Registered Investment Advisor), she is an unbiased professional who takes
on fiduciary responsibility with all of her client interactions.
State law varies but usually a buyer's representative works for, and
owes fiduciary responsibilities (see fiduciary duties) to, the real estate buyer and has the buyer's best interests in mind throughout the entire real estate transaction.
Within the Real Estate Buyer's Agent Council (REBAC), we're focused on helping buyers gain a better understanding of what
fiduciary responsibilities mean, to them, in a real estate transaction.
But clearly they forgot, or chose to overlook, the board's
fiduciary responsibility when it came to a more than half - billion - dollar loan for a new Tappan Zee bridge.
We also counsel advisers on any ERISA obligations they may have in connection with their activities with ERISA covered plans, including ERISA's
fiduciary responsibility provisions.
Due to DOL fee disclosure rules and several high - profile excessive fee lawsuits, most owners understand they risk personal liability by not understanding these fees and keeping them in check — an important fiduciary responsibility
Either choose an all index fund lineup for your 401 (k) plan - like the Federal Thrift Savings Plan (TSP)-- or delegate your
investment fiduciary responsibilities to a professional 3 (38) Investment Manager.
However, because consultants do not have discretionary authority and are not plan fiduciaries, the plan sponsor retains
full fiduciary responsibility.
The op - ed explains what it means to be a fiduciary, the conflicts within sell - side research, and how advisors fulfill
fiduciary responsibilities going forward.
Rivera said he didn't doubt Mujica's intelligence or integrity, but that no one else on the board would «have the
same fiduciary responsibility and power to determine what ultimately goes to the institution.»
In many cases,
ultimate fiduciary responsibility for the performance of the assets rests with trustees who are non-specialists and require independent and specialist advice.
Banks that act as trustee of a CTF by definition must act as fiduciaries for the fund's assets; therefore, if pending regulations force investment managers to have
greater fiduciary responsibility over target - date funds, CTFs will have an advantage over mutual funds as they are already providing this service, according to the press release.
In the case at hand, an employee sued his former firm for failing to act on his instructions to change his investment allocation, a breach of
fiduciary responsibilities which he claimed cost him $ 150,000 in stock market losses.
Friedman argued that earning profit for the owners has been the mandate — and for public companies the legally
binding fiduciary responsibility — since capitalism appeared.
Fox Rothschild's Taxation & Wealth Planning attorneys not only provide clients with sophisticated estate planning advice to help preserve wealth, but we also assist trustees and executors with the administration of trusts and decedent's estates, helping them navigate the often complicated system of intestacy laws and providing advice
regarding fiduciary responsibilities.
The final version of the new fiduciary rule, released this past April, will
expand fiduciary responsibility to advisors of IRAs and 401 (k) plans, requiring them to adhere to new compliance protocols, an increased level of scrutiny on fees and advisor compensation and accelerated product shifts to fee - based and robo - advisory.
Keeping 401 (k) fees in check is one of the most important 401 (k)
fiduciary responsibilities because excessive fees reduce investment returns unnecessarily, making a secure retirement for plan participants less affordable.
In a reversal of roles, New York is urging the National Association of Insurance Commissioners to adopt the state's new best interest regulation, which
extends fiduciary responsibility to life insurance.
Outsourcing fiduciary responsibility essentially allows those who would otherwise be categorized as fiduciaries to contract with a third party in order to shift at least a part of the risk of fiduciary liability to that third party.
These include limiting the number of junk bonds that can be acquired by federal - and state - insured institutions, and specifying to company directors and officers that achieving the best short - term investment returns is not their
main fiduciary responsibility.
Although elected statewide and with statewide fiscal auditing responsibilities, being the sole trustee of the Common Pension System gives the Comptroller a unique
Upstate fiduciary responsibility.
APC Fiduciary Responsibility Facility Safety and Risk Management — APEI The Charter School Principal Evaluation Rilke Schule Principal Evaluation Process Robert's Rules (Parliamentary Procedure)
When plan sponsors appoint Brinker Capital as the ERISA 3 (38) investment manager, this allows them to
transfer fiduciary responsibility for the selection and management of their investments so they can focus on the best interests of their employees.
A greater focus on participant outcomes and their
own fiduciary responsibilities may be leading more plan sponsors to adopt managed accounts for their retirement plans.
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