Who should a fiduciary prioritize in their duties?

The priority of a fiduciary's duties is to act in the best interest of the beneficiaries. In a fiduciary relationship, the professional is entrusted with the responsibility of managing assets or affairs for the benefit of another party. This means that the fiduciary must prioritize the needs and interests of the beneficiaries above their own or any other party involved.

A fiduciary is required to uphold a high standard of care and loyalty, ensuring that decisions made are for the sole benefit of those they represent. This obligation may include managing investments wisely, making informed decisions, and avoiding any conflicts of interest that could harm the beneficiaries. Thus, prioritizing the beneficiaries is not only a legal requirement but also an ethical one that safeguards their rights and expectations regarding the management of their interests.

In this context, thinking that a fiduciary should treat everyone equally overlooks the fundamental nature of the fiduciary relationship. While it is important to maintain transparency and communication with all involved parties, the fiduciary's primary responsibility lies with the beneficiaries, making it essential to prioritize their needs above others.