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Just for laughs

Posted by Abraham Ikongshul November 18, 2017

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Fiduciary Duty: Not Just for Wall Street Sharks

Imagine entrusting your most prized possession – perhaps a family heirloom or a secret recipe – to someone else. You wouldn't just hand it over to anyone, right? You'd choose someone you trust implicitly, someone with a responsibility to care for it as if it were their own. That, in essence, is the core of fiduciary duty : a legal and ethical obligation to act in the best interests of another party. But hold on, aren't these fancy terms reserved for high-powered financiers and lawyers? Not at all! Fiduciary duty touches everyday life more than you might think. Let's dive into the murky waters of legal jargon and make them crystal clear for the average Joe (or Jane). Think of it this way: Your doctor : They have a fiduciary duty to provide you with the best possible medical care, not just recommend treatments that benefit them financially. Your financial advisor :They're bound to prioritize your financial well-being, not steer you towards risky investment...

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