Which of the following best describes a fiduciary?

A fiduciary is best described as a person or entity that is entrusted with the responsibility to manage and oversee financial transactions and assets on behalf of another party. This relationship is built on trust, requiring the fiduciary to act in the best interests of the other party, often referred to as the principal or the beneficiary.

In the context of the insurance industry, fiduciaries play a critical role in ensuring that clients' financial interests are prioritized when making decisions related to insurance policies and other financial matters. Their duties often include the prudent management of funds, providing sound advice, and maintaining transparency throughout the financial exchange process.

While the other options mention roles within the insurance sector or business functions, they do not embody the essential characteristic of a fiduciary relationship, which is primarily defined by the obligation to act in the best interests of another with respect to financial dealings.