Tag Archives: Fiduciary Services

Fiduciary Services

Ever wondered what Fiduciary Services are? Here’s an explainer

Fiduciary services are a range of financial and legal services provided by professionals who are legally and ethically bound to act in the best interests of their clients. Fiduciaries have a fiduciary duty to their clients, which means that they must put their clients’ needs ahead of their own and avoid conflicts of interest.

Fiduciary services can be provided by a variety of professionals, including:

  • Financial advisors
  • Wealth managers
  • Estate planners
  • Attorneys
  • Trustees
  • Investment managers
  • Corporate directors
  • Pension plan administrators

Some common types of fiduciary services include:

  • Investment management
  • Trust administration
  • Estate planning
  • Retirement planning
  • Tax planning
  • Financial advice
  • Corporate governance

Fiduciary services are important because they help to ensure that clients’ financial and legal interests are protected. Fiduciaries are held to a high standard of care and must act in the best interests of their clients at all times.

A fiduciary is someone who manages money or property for someone else. When you’re named a fiduciary and accept the role, you must – by law – manage the person’s money and property for their benefit, not yours.

Consumer Financial Protection Bureau (US)

Here are some examples of fiduciary services:

  • A financial advisor who helps you to create an investment plan and manage your portfolio.
  • A trustee who manages the assets of a trust on behalf of the beneficiaries.
  • An estate planner who helps you to create a will and estate plan to ensure that your assets are distributed according to your wishes after your death.
  • A corporate director who oversees the management of a corporation and represents the interests of the shareholders.
  • A pension plan administrator who manages the assets of a pension plan on behalf of the participants.

If you are considering hiring a professional to provide financial or legal services, it is important to make sure that they are a fiduciary. You can ask the professional directly if they are a fiduciary and what their fiduciary duties are. You can also ask for references from other clients.

An example of a company that provides Fiduciary Services is My Swiss Company who provide a range of services including Swiss resident director services.