A fiduciary is a person who assumes responsibility for a position of trust. The fiduciary as has the responsibility of managing affairs on behalf of their client.
Who Oversees Fiduciaries?
Private Fiduciaries are governed by state statute. Each California county has Probate Court as part of its Superior Court system. Courts may appoint a PFAC member as a neutral third party to protect vulnerable and incapacitated people from abuse, neglect and exploitation. PFAC members must abide by the PFAC Code of Ethics.
How Do You Select a Qualified Fiduciary?
All fiduciaries affiliated with the Professional Fiduciary Association of California (PFAC) must fulfill education and experience requirements. In addition, PFAC members are governed by a Code of Ethics. PFAC members must meet annual educational requirements and standards set by the organization..
What is the Professional Fiduciary Association of California?
The mission of the Professional Fiduciary Association of California is to advance excellence in fiduciary standards and practices. The organization promotes high standards of ethics and practices, requires and provides continuing education and contributes to the development and support of effective regulation, legislation and licensing. For more information and to read the Professional Fiduciary Association of California™ Code of conduct, please visit: http://www.pfac-pro.org/.