What is a Fiduciary?
A fiduciary (fuh-doo-shee-eh-ree) is someone who is managing the assets of another person and stands in a special relationship of trust, confidence, and/or legal responsibility.
The concept of a fiduciary isn't new, Cicero describes the need of a fiduciary during his oration for Sextus Roscius of Ameria: "...[W]e cannot do everything ourselves; different people are more capable in different matters ... [I]n cases where we ourselves cannot be present, the vicarious faith of friends is substituted; and [those] who impair that confidence, attack the common bulwark of all, and as far as depends on [them], distrubs the bonds of society."
As an ACCREDITED INVESTMENT FIDUCIARY® (AIF®), Tim Schannep can assure his clients that he built a fundamental understanding of the responsibilities of managing and advising his clients assets. These building blocks include the principles of fiduciary duty, the standards of conduct for acting as a fiduciary, and a process for carrying out fiduciary responsibility.
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