Those who have a “fiduciary duty” owe a duty of care and a duty of loyalty to their clients, and are charged with acting in the client’s best interests at all times. Because of the level of trust and confidence between an investor and a broker/financial advisor, and also because the investor pays the broker/financial advisor for financial guidance, the broker/financial advisor owes the client a fiduciary duty in most cases. This duty can be breached when the broker puts his own interests above his client’s.
