Fiduciary duty is the legal obligation one party has to act in the best interests of another party. This rather complex legal explanation can be made more simple with an example: Bob Smith gives $100,000 to his stockbroker to invest on Bob’s behalf. The stockbroker has a legal and moral obligation to invest that money with only Bob’s interests in mind.
The association between Bob Smith and his stockbroker is what’s called a fiduciary relationship, and it can come in many forms, including between employers and employees, between a trustor and a trustee, between an attorney and a client, and more.
If there is a breach in this relationship, the assistance of a fiduciary litigation attorney may become necessary in order to recover damages to which you may be entitled. Fiduciary litigation can include: