adjective: relating to or involving trust
The Department of Labor stresses the importance of knowing what it means to work with a fiduciary: "Before you select an advisor, you need to have a clear understanding of the advisor's responsibilities to you and how he or she may be affected by the fees he or she receives when giving you advice. It is important to understand whether the advisor is acting as a fiduciary, meaning that the advisor is working solely in your best interest."
Carl Richards, director of investor education for the BAM ALLIANCE, says
that what's even more important than titles, job descriptions or where someone works is what that person does. In his New York Times column, Carl recommends asking specific questions in order to gain a clearer understanding of an advisor's actions.