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 holds assets for another party and is legally obligated to act in that party's best interests, making decisions regarding their financial affairs. An accountant may assist with financial matters, but does not have the legal authority or duty to make decisions on behalf of the party. An attorney may have legal authority, but not necessarily the duty to make financial decisions. A manager may have some financial responsibilities, but not necessarily the legal authority or duty to act as a fiduciary.

An Entity That Is Holding Assets for Another Party and Has