There once was a time when "fiduciary" meant something.
It used to mean putting the client's best interest first. It used to mean no self-dealing transactions. It used to mean a relationship that evoked a familial bond.
The beneficiary (or client), even if they weren't quite aware of the legal definition and obligations of fiduciary duty, knew they could turn to their fiduciary and receive the best advice, objective advice, and, most importantly, advice free of conflicts.
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