Professional Standards for Fiduciaries

Setting the National Standard for Excellence in Fiduciary Practice

At The Fiduciary Institute™, we believe fiduciaries should be guided by more than minimum state requirements. Our professional standards establish a national benchmark for excellence, integrity, and accountability—ensuring that fiduciaries everywhere can deliver consistent, ethical, and client-centered service.

These standards are designed for professionals across the full spectrum of fiduciary roles, including:

Guardians and conservators
Trustees
Agents under power of attorney
Representative payees
Executors and administrators
Professional fiduciary firms and agencies

Explore our three-part framework below.

Standards of Practice

Practical Guidelines for Everyday Fiduciary Work

Our Standards of Practice outline how fiduciaries should act in their day-to-day responsibilities, ensuring high-quality service to clients and beneficiaries.

Duty of Loyalty – Act solely in the best interest of the client, avoiding conflicts of interest.
Duty of Care – Demonstrate diligence, prudence, and sound judgment in all decisions.
Transparency & Accountability – Keep accurate records and provide timely reports.
Informed Decision-Making – Gather relevant information and consult experts when necessary.
Competence & Continuing Education – Stay current through training and professional development.
Confidentiality & Privacy – Protect client information and adhere to privacy laws.
Respect & Dignity – Treat every individual with fairness, compassion, and cultural sensitivity.

👉 Download the Standards of Practice PDF

Agency Standards

Best Practices for Fiduciary Firms and Organizations

Strong fiduciary practices require more than individual commitment—they demand organizational systems that protect clients and strengthen trust.

Governance & Compliance – Written policies aligned with TFI standards and applicable laws.
Case Management & Oversight – Appropriate caseload limits and regular supervisory review.
Financial Management – Segregated accounts, proper accounting, and independent audits where needed.
Risk Management – Adequate insurance, bonding, and succession planning for continuity of care.
Staffing & Development – Hiring qualified professionals and supporting ongoing training.
Client Communication & Advocacy – Transparent, respectful, and timely engagement with clients and families.

👉 Download the Agency Standards PDF

Code of Ethics

Guiding Principles for Fiduciary Integrity

Ethical conduct is the cornerstone of fiduciary practice. Our Code of Ethics ensures that fiduciaries uphold the highest standards of professionalism.

Integrity – Act with honesty, fairness, and transparency.
Impartiality – Serve all beneficiaries without bias or favoritism.
Accountability – Take responsibility for every action and decision.
Respect for the Law – Comply with all legal and regulatory requirements.
Professionalism – Represent the fiduciary profession with excellence.
Service Orientation – Place the welfare of clients above personal or organizational gain.

👉 Download the Code of Ethics PDF