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Breach of Fiduciary Duties - Sawers McFarlane

Your Money Comes First

When your personal capital is on the line, your best interests always supersede the interests of the company that’s managing it. That’s the idea behind fiduciary duty, which exists in any number of professional relationships that involve the management of property or money – including a banker-client or lawyer-client relationship – in which they are considered the fiduciary and you the principal. Whenever a fiduciary breaches its duties, however, your rights and your security have been compromised and you need to consult with a lawyer who has a full understanding of the law of fiduciaries and will work to make sure that you don’t lose a penny of what’s rightfully yours.

What is a Breach of Fiduciary Duty?

A breach of fiduciary duties occurs whenever the principal’s interests are not given the highest priority, regardless of whether or not the principal experienced any financial or property loss. Breaches can occur a number of ways – all of which are related to the requirements of the fiduciary.

One example is when the fiduciary needs to address conflicts of interest, which may occur when it has clients who are at odds with each other. This requires the fiduciary to make a choice among these clients; in doing so, it may fail to provide services to clients with conflicting needs by potentially allowing one client to harm the best interests of the other. The placing of anyone’s interests above the principal’s is an example of a fiduciary duty breach.

Also, if a financial advisor places a principal’s money into an account that will benefit the advisor’s friend, whether it proves beneficial to the principal or not, the principal’s interests were made subordinate to another interest – another breach of fiduciary duty.

Simply put, fiduciaries may not profit from your relationship in any way without your express knowledge and consent. The legal standards governing fiduciary duty may vary from province to province, so it is important that you seek qualified, competent legal counsel within the province where the breach of fiduciary duty occurred. A skilled employment lawyer will be able to evaluate your situation, determine if you have a case, and work with you to ensure that your rights, and your assets, are fully protected.

The Employment Law Firm of Sawers McFarlane: Protecting Your Future

With over 35 years of combined experience, the lawyers at Sawers McFarlane are committed to helping every client with their unique employment challenges. They can provide advice about any labour or employment problem, and can represent employees in negotiations, hearings, and litigation if necessary. No matter how complex the case, Sawers McFarlane is there to make sure that your rights are protected and your best interests are served. They have served thousands of clients in the Calgary area and across Western Canada, and have earned a reputation as professional, tenacious, and efficient legal advocates. Sawers McFarlane is located at #920 250 5th St. SW, Calgary, Alberta T2P 0R4 or they may be reached by calling (866) 790-3221.