Fiduciary

“A fiduciary is one, often in a position of authority, who obligates himself to act on behalf of another (as in managing money or property) and assumes a duty to act in good faith and with care, candor and loyalty in fulfilling the obligation.”
— Merriam Webster

Why is a Fiduciary Important?

For someone in a leadership role in a company or non-profit, you want to act with fiduciary standards of care for two reasons.

A fiduciary position is one of great responsibility since your decisions affect others assets, that should not be taken lightly. Ideally you are motivated by the responsibility and because you care about achieving a good result (and avoiding a bad result).
A person in a fiduciary position can be held personally liable legally. Certainly most people would never want to be in a position where they could be liable for problems or even remotely close. Most would want to be so "squeaky clean" that any sniff of wrong-doing would be met with disbelief by everyone involved. And so that any lawsuits that could come along would be considered by the court as "frivolous".

What about for you own and/or your family finances? Since your own future and your family's future depends on your personal financial decisions, why wouldn't you want to apply the same level of fiduciary standards of care (more?) as you would want for your company or non-profit?

What are the risks?

There are many examples of executives and board members being held personally liable for investing related problems. We suggest consulting your corporate or personal attorney to determine your actual risk.

How to minimize risk? Simply, be a great fiduciary — Fiduciary Excellence! But how? Let us show you how you can achieve fiduciary excellence.