Breach of Fiduciary Duty

Understanding Breach of Fiduciary Duty: A Comprehensive Guide with Roy Oppenheim. Learn about the nuances of breach of fiduciary duty, highlighting its significance in various professions like law, finance, and accountancy, and emphasizing the role of insurance in such disputes.

Hi, Attorney Roy Oppenheim here for Oppenheim Law. Today I wanna talk a little bit about breach of fiduciary duty. And what does that mean? Well, certain individuals have fiduciary duties… or companies have fiduciary duties to their clients. And who would that be? Well, obviously, a lawyer has that kind of relationship. Escrow agents have that relationship. In many cases, money managers have that responsibility. Accountants and financial planners, they all have fiduciary obligations. What’s a fiduciary duty? It means that they cannot put their interest ahead of yours. That your interest is tantamount to the relationship. And that they are expecting, because of your knowledge and your experience, and your position, that you will protect their interest and not be seeking, necessarily, financial gain for yourself without disclosure. And so, the nature of fiduciary duty goes back hundreds and hundreds of years, maybe longer.

And so, we are, you know, involved with these kinds of litigations and disputes on a regular basis, and we’ll be glad to assist you, should you think that you have a professional that violated their fiduciary duty, fell below the level of trust. Or if you are a fiduciary, someone that had that responsibility, and someone’s questioning it. Typically, insurance will get involved here, and a lot of times, the parties that have fiduciary duty will invoke their insurance policies, and so, a lot of times this becomes a as well as an insurance matter as anything else.