Money managers, bankers, accountants, executors, board members, and corporate officers can all be considered fiduciaries.
Under a principal/agent duty, an agent is legally appointed to act on behalf of the principal without conflict of interest.
Politicians often set up blind trusts in order to avoid conflict of interest scandals.
A blind trust is relationship in which a trustee is in charge of the investment of a beneficiary's corpus without the beneficiary knowing how the corpus is being invested.
The most common types of fiduciary relationships are between a trustee and a beneficiary.
Other types of relationships where fiduciary duties are involved include: Estate arrangements and implemented trusts involve a trustee and a beneficiary.