Definition of Trustee

Trustee is a person who legally acts for the benefit of another party.

Applying "Trustee" to Securities Exams:

A trustee is an individual who is authorized to make investment decisions for the benefit of another individual or group of individuals. As such they are bound by their fiduciary duty to act in the best interests of the other party or parties and to do only as a prudent person would do for themselves.

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