Series 6: 2.2.7. Fiduciary Accounts

2.2.7. Fiduciary Accounts

Fiduciary accounts are accounts where a third party manages the account for a customer. 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 a minor account. Fiduciaries have a duty to put accountholders’ interests before their own.