Which of the following is NOT a primary duty of a fiduciary in managing assets?

The role of a fiduciary is centered around the obligation to act in the best interest of another party, such as a client or beneficiary, when managing assets. This responsibility is founded on trust and legal mandates that prioritize the interests of the entity receiving the fiduciary services over personal interests.

Fiduciaries are expected to make ethical investment decisions, ensuring that the choices they make align with the best interests of their clients and are grounded in principles of integrity and prudence. Monitoring investment performance is another essential duty, as it ensures that the fiduciary stays informed about how investments are performing and can make necessary adjustments for the benefit of the client. Additionally, documenting investment activities is critical for transparency and accountability, allowing clients and relevant authorities to review the decision-making process and the actions taken by the fiduciary.

In contrast, personal financial gain is not a primary duty of a fiduciary. Engaging in actions that prioritize the fiduciary's own financial interests over those of the client would violate the fundamental tenets of the fiduciary relationship. Therefore, personal financial gain is clearly an inappropriate concern for a fiduciary, distinguishing it from the other responsibilities that are inherently part of the role.