An entity that is holding assets for another party and has legal authority and duty to make decisions regarding financial matters concerning that party is:

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A fiduciary is a person or entity that has legal authority and duty to act in the best interests of another party, and is entrusted with the care of their financial matters. This can include trustees, executors, and agents appointed under power of attorney. An accountant, attorney, or manager may also serve as a fiduciary, but the key factor is their legal obligation to act in the best interests of their client or principal.

An Entity That Is Holding Assets for Another Party and Has