A fiduciary is an individual or entity that is entrusted with the responsibility to act in the best interests of another party, known as the beneficiary or client. The fiduciary has a legal and ethical obligation to prioritize the beneficiary's interests above their own and to exercise care, loyalty, and good faith in managing the beneficiary's assets or affairs. This fiduciary duty frequently shows up in professional relationships, such as financial advisors, trustees, attorneys, and corporate directors, where a high level of trust and confidence is placed in the fiduciary's expertise and integrity.