What best describes the responsibilities of a fiduciary?

The responsibilities of a fiduciary fundamentally revolve around the duty to act in the best interest of the beneficiaries. This means that a fiduciary must prioritize the needs and interests of those they serve, which can include managing assets, making decisions about investments, and ensuring that the beneficiaries receive the benefits they are entitled to.

A fiduciary relationship is built on trust and confidence, and failing to act in the beneficiaries' best interests can lead to breaches of duty. This overarching responsibility includes not only financial management but also the duty to provide information and advice that aligns with the beneficiaries' best interests.

In contrast, pursuing personal financial gain would violate this fiduciary duty, as it prioritizes the fiduciary's interests over those they are meant to serve. Limiting responsibilities to financial management does not encompass the entire scope of a fiduciary's role, which often includes various non-financial duties as well. Advising on personal issues, while potentially part of a fiduciary's role, is not a core responsibility and does not capture the essential duty to prioritize beneficiaries' interests over all else.