The Professional Fiduciaries Bureau (PFB) within the Department of Consumer Affairs (DCA) is responsible for the licensure and regulation of non-family-member professional fiduciaries, including conservators, guardians, trustees, personal representatives of a decedent’s estate, and agents under durable power of attorney, as defined by the Professional Fiduciaries Act. The Act was established in 2006 by Senate Bill 1550 (Figueroa, Chapter 491, Statutes of 2006).
Professional fiduciaries provide critical services to seniors, people with disabilities, and children, including daily care, housing and medical needs, and financial-management services ranging from basic bill paying to estate and investment management. Professional fiduciaries are responsible for the well-being of their clients and coordinate overall care for their clients’ medical and/or financial needs. A professional fiduciary is not necessarily an expert in all service areas and may hire other persons to handle duties for the trusts or estates. However, as the ultimate decision-maker, the professional fiduciary has the responsibility to ensure appropriate and adequate services are provided for their clients.
Mission: To protect consumers through licensing, consumer education, and enforcement of the Professional Fiduciaries Act and promote and uphold competency and ethical standards across the profession.
Vision: The well-being of consumers receiving professional fiduciary services is safeguarded.
Values:
- Consumer Protection
- Diversity
- Equity
- Professionalism
- Responsiveness
- Teamwork
- Transparency
Visit PFB’s website at: https://www.fiduciary.ca.gov/, and connect with PFB on Facebook and Twitter.
CONSUMER RESOURCES:
- File a Complaint against a Fiduciary
- What You Should Know Before Hiring a Professional Fiduciary
- California Department of Insurance Senior Gateway – https://seniors.insurance.ca.gov/
- California Veterans Affairs – https://www.calvet.ca.gov/
- Consumer Financial Protection Bureau – https://www.consumerfinance.gov/consumer-tools/educator-tools/resources-for-older-adults/
