Regarding agent responsibilities, what is the primary duty of a fiduciary?

The primary duty of a fiduciary is to act in the client's best interest. This responsibility encompasses a range of obligations, including loyalty, care, and full disclosure. A fiduciary must prioritize the interests of their client above their own and must avoid any conflicts of interest that could compromise that duty. This means making decisions and taking actions that benefit the client, even if such actions do not result in personal gain for the fiduciary.

In the context of agent responsibilities, this fiduciary obligation is fundamental, as it builds trust and ensures that clients can rely on their agents to advocate for them effectively. For instance, a fiduciary might need to provide honest assessments of property values or negotiate terms that favor the client, all while avoiding any personal financial motivations. This commitment to the client’s welfare is what distinguishes fiduciaries from other types of relationships, where the emphasis might be more on profit maximization or cost minimization rather than the best interest of the client.