Breach of Fiduciary Duty

A “fiduciary” is defined as one who has a legal duty to act in the best interest of another. A “fiduciary duty” is an affirmative duty of utmost good faith, trust, confidence and candor that compels the fiduciary to place the client’s interest before his or her own interest. Fiduciaries must not put themselves in a position where their personal interests and their fiduciary duties may conflict. Each jurisdiction contains its own laws setting forth who are considered fiduciaries and the duties of those fiduciaries. Trustees, stockbrokers and other financial advisers are fiduciaries by law. These professionals therefore have a duty to put your financial interests above their own. The effects of a breach of fiduciary duty are oftentimes widespread and very damaging to the victim. Accordingly, a breach of fiduciary duty is a serious matter with potentially harsh consequences. Cosgrove Law, LLC regularly represents clients in breach of fiduciary claims. Please contact one of our attorneys if you believe a breach of fiduciary duty has negatively impacted your financial situation.