Which of these is NOT a characteristic of fiduciaries?

A fiduciary relationship is grounded in trust and requires the fiduciary to act in the best interests of the principal, holding a duty of loyalty and care. The defining characteristics of fiduciaries include a high degree of confidence, meaning that the principal relies on the fiduciary’s expertise and integrity. Additionally, fiduciaries are obligated to disclose relevant facts that could influence the principal's decision-making, ensuring transparency and protecting the principal's interests.

Importantly, fiduciaries must avoid situations where personal gain conflicts with their duty to act in the principal’s best interests. Therefore, excluding personal gain is a fundamental aspect of this relationship. In contrast, acting out of selfish interest directly contradicts the fiduciary duty, as it involves prioritizing one's own benefits over those of the principal. This aligns with the incorrect nature of the first option, as it does not reflect the ethical and legal expectations of fiduciaries.