{"ok":true,"canonical_url":"https://dealroom.so/glossary/fiduciary","api_url":"https://dealroom.so/api/public/glossary/fiduciary","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"fiduciary","term":"Fiduciary","group":"People and paperwork","definition":"A person or entity legally and ethically obligated to act in the best interest of another party. Your lawyer or M&A advisor should act as your fiduciary.","what_it_means":"When you hire professionals like attorneys, M&A advisors, or even your lender (in some limited contexts), they have a fiduciary duty to you. This means they must prioritize your interests, provide transparent advice, and avoid conflicts of interest. Always ensure your advisors understand and adhere to this responsibility.","url":"https://dealroom.so/glossary/fiduciary","official_sources":[],"related":[{"slug":"ma-advisor","term":"M&A advisor","url":"https://dealroom.so/glossary/ma-advisor"},{"slug":"business-broker","term":"Business broker","url":"https://dealroom.so/glossary/business-broker"},{"slug":"conflict-of-interest","term":"Conflict of interest","url":"https://dealroom.so/glossary/conflict-of-interest"},{"slug":"legal-fee","term":"Legal fee","url":"https://dealroom.so/glossary/legal-fee"}],"related_questions":[]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Fiduciary","url":"https://dealroom.so/glossary/fiduciary","source_type":"DealRoom Data"}}