Fiduciary Duty: What does it mean?

Posted On: November 9, 2010 by Law Offices of Ralph Behr

A fiduciary duty imposes a very high level of responsibility. A fiduciary must act in the best interest of the person to whom they owe that duty. Think of a parent: good parenting requires that one always protect and act in the best interest of the child. Think of a doctor: she/he must act always in the best interest of the patient. Think of the stockbroker? They have a duty to always act in the best interest of the client. If they fail to act in the best interest of the client; or they compromise their judgment to balance other interests…. they have crossed the line. The line between malfeasance and acting as a fiduciary is often easy to see. It is also often missed. If you believe that a financial advisor or stockbroker has acted against your interests in presenting and executing a financial transaction with your money then you have a claim of breach of fiduciary duty. These claims are arbitrated in the securities industry, they rarely go to court. If you believe you have been the victim contact your South Florida securities fraud attorney and ask for a consultation.