The Cornell Law Dictionary says, "A fiduciary duty is the highest standard of care." It entails always acting in your beneficiary's best interest, even if doing so is contrary to yours. For a financial advisor, this may mean recommending a product that results in reduced or no compensation because it's the best option for the client. According to the Securities and Exchange Commission, which regulates registered investment advisors as fiduciaries, the fiduciary duty also enta