Fiduciaries have a legal obligation to protect their client's financial interests. Financial advisors, insurance agents, and trustees of estates are required to disclose their activities in relation to a stock portfolio, trust fund, other investments or policy, always acting in ways that further the aims and interests of a client rather than those of the fiduciary. As a famous New York justice phrased it, the duty of a fiduciary is "the punctilio of an honor most sensitive."
When fiduciaries engage in financial malfeasance, mismanagement, or dual representation, they can be held financially and legally liable for damages suffered by the client.
Breach of Fiduciary Duty - What a Fiduciary Can and Cannot Do
Fiduciaries are required to protect and maintain the interests of the client. Toward these ends, the following is expected of fiduciaries:
Determining Financial Loss caused by a Breach of Fiduciary Duty
The breach of fiduciary duty can result in substantial financial loss. While most fiduciaries will deny any wrong doing, Mr. Feldman is prepared to obtain and review financial records associated with his client's stock portfolio, trust, other investments or insurance policy. In order to quantify the financial consequences of a breach of fiduciary responsibility, Mr. Feldman presents cost-data analyses that project the performance of stocks, bonds, 401k accounts, mutual funds, annuities, and other investments over time had a breach not occurred. Additionally, Mr. Feldman takes into account any loss of money or devaluation of investments that result from a breach of fiduciary responsibility.
Contact an Experienced Financial Misconduct Attorney
In order to avoid alerting your fiduciary, resulting in the destruction or manipulation of evidence, it's best to retain legal counsel first, in order to protect your interests and rights.