What is required of a fiduciary under California's code of ethics?

A fiduciary in California is bound by a strict code of ethics that emphasizes the importance of adhering to legal standards. This obligation includes a comprehensive commitment to obeying all local, state, and federal laws. This adherence ensures that fiduciaries act within the boundaries of the law, which helps to protect the interests of their clients and the integrity of their profession. By prioritizing legal compliance, fiduciaries maintain trust and accountability, which are central tenets of their role.

In contrast, prioritizing personal beliefs over laws undermines the fiduciary's responsibility to act in the client's best interests. Disclosing client information freely can breach confidentiality principles that fiduciaries must uphold. Relying solely on friends’ opinions can introduce bias and a lack of professionalism, which may not serve the clients adequately. Thus, obeying legal requirements is a fundamental aspect of a fiduciary's ethical obligation.