Fiduciary Services in Ireland
Fiduciary Services in IrelandUpdated on Friday 09th September 2016
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Fiduciary services in Ireland refer to the set of activities which are performed by a trained person or a specialized company in order to manage in good faith the assets of another person or of a group of individuals. Fiduciary services are provided in order to act in the benefit of another individual. By appointing a fiduciary specialist, the respective person would expect to increase the value of his or her assets and finances. Ireland offers a wide area of fiduciary services and our team of attorneys in Ireland can assist foreign persons to choose a fiduciary product which will suit their personal interests and long terms plans.
Types of fiduciary services in Ireland
As mentioned above, persons interested in creating an extra-value to their personal finances can choose from many fiduciary services, which can refer to various financial services.
For example, fiduciary relationships can refer to asset managers, bankers, accountants or board members, just to name a few. Fiduciary services can also refer to the asset management provided to businessmen who have invested in an investment fund; our team of Irish lawyers can offer more details on this matter.
What is a fiduciary?
A fiduciary in Ireland refers to the person who provides such services and who has an extensive knowledge on the respective field in which he or she is working.
The assets which are given by the beneficiary (the person who will be represented by the fiduciary) can take the form of cash, properties and other types of assets.
The main responsibilities of the fiduciary are the following:
• due diligence.
The fiduciary can only act as a representative of the beneficiary and he or she can’t invest the assets for personal gain.
Fiduciary relationships can also be established between the following entities:
• lawyers and their clients;
• investment companies and investors.
Businessmen interested in receiving more details on the broad meaning of fiduciary services available in Ireland, can address to our Irish law firm for legal advice or legal representation.