Skip to content

Fiduciary (n) a trustee

  • by

Everyone – All Administrators, Faculty, Staff, Contractors, Employees, 3rd Party Vendors, Etc. – Are fiduciaries for the students.
Being a fiduciary involves putting the student’s interest ahead of our own.

A fiduciary is someone who manages money or property for someone else. When you are named a fiduciary, you are required by law to manage the person’s money and property for their benefit, not yours. For example, a friend of yours may name you her fiduciary through a power of attorney (POA).

Fiduciary relationships are often of the financial variety, but the word fiduciary does not, in and of itself, suggest pecuniary (“money-related”) matters. Rather, fiduciary applies to any situation in which one person justifiably places confidence and trust in someone else, and seeks that person’s help or advice in some matter. The attorney-client relationship is a fiduciary one, for example, because the client trusts the attorney to act in the best interest of the client at all times. Fiduciary can also be used as a noun referring to the person who acts in a fiduciary capacity, and fiduciarily or fiducially can be called upon if you are in need of an adverb. The words are all faithful to their origin: Latin fidere, which means “to trust.”

I guess this should read: Everyone – All Trustees, Board of Directors, Administrators, Faculty, Staff, Contractors, Employees, 3rd Party Vendors, Etc. – “SHOULD BE” fiduciaries for the students.

After discussing with students, the role and nature of a fiduciary, the question posed was, “Do you think the University acts in your best interest?” Would you be surprised at the answers?

They are literally called a “Board of Trustees“. However, would you know they are trustees to the University Corporation, not to the students?


Leave a Reply

Your email address will not be published. Required fields are marked *