Series 65: 5.1.3 Fiduciary Accounts

5.1.3  Fiduciary Accounts

Fiduciary accounts are accounts where a third party manages the account for a client. The third party is called the fiduciary. A fiduciary may be an investment adviser, bankruptcy trustee, executor of an estate account or trust account, or guardian of minor account. Fiduciaries have a duty to put the accountholder’s interests before their own.