What does informed consent entail in fiduciary practices?

Informed consent in fiduciary practices is fundamentally about providing individuals with the necessary information to make decisions that are free from coercion. This concept emphasizes the importance of autonomy, where an individual must be equipped with adequate knowledge regarding the implications of their choices to enable them to give voluntary and informed consent. This involves understanding potential risks, benefits, and alternatives as part of the decision-making process.

While other options may touch upon aspects related to informed consent, the essence lies in ensuring that decision-makers feel empowered by having all relevant information at their disposal. This clarity allows them to weigh their options thoughtfully and choose actions that align with their interests and values, reinforcing the fiduciary's duty to maintain transparency and act in the best interests of those they serve.