Question

All of the following are common-law fiduciary principles except?

1) the duty to administer client assets in accordance with the terms and conditions outlined in the governing document.
2) the duty to generate a reasonable return to the trust organization from fiduciary services.
3) the duty to invest client funds prudently.
4) the duty to act in the best interest of beneficiaries.

Answer 1

Common-law fiduciary principles include the duty to administer client assets in accordance with the terms and conditions, the duty to invest client funds prudently, and the duty to act in the best interest of beneficiaries.

Step-by-step explanation:

All of the options provided in the question are common-law fiduciary principles, except for option 2) the duty to generate a reasonable return to the trust organization from fiduciary services. Common-law fiduciary principles include the duty to administer client assets in accordance with the terms and conditions outlined in the governing document, the duty to invest client funds prudently, and the duty to act in the best interest of beneficiaries.