Series 7: 14.2.10. Fiduciary Accounts

14.2.10. 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 the accountholder’s interests before their own.