A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other asset for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has entrusted funds to the fiduciary for safekeeping or investment. Likewise, asset managers—including managers of pension plans, endowments and other tax-exempt assets—are considered fiduciaries under applicable statutes and laws.^[1] In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice or protection is sought in some matter.^[2] In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.

I wonder if any of the five current selectmen knows what this means? I think by the number of financial transfers that have taken place over the past year along with the number of special town meetings that have been held, I tend to think not. I believe this will be shown at the next Annual Town meeting.

Jeff Bennett