If all four elements of a breach of fiduciary duty are proven, the fiduciary involved can face many consequences—both in a legal and professional sense. Possible consequences include monetary penalties for any damages and even the removal or suspension of a fiduciary.
Here are a few consequences you can face if you are involved in a breach of fiduciary duty:
Compensatory damages: If a fiduciary breach reaches litigation, the fiduciary may be responsible for compensating the beneficiary for any losses resulting from the breach.
Punitive damages: Punitive damages are payments that the fiduciary must make outside of compensatory damages. This consequence is a ploy to discourage fiduciaries from engaging in further breaches. Punitive damages typically only happen in cases of fraud or malice.
Professional consequences: Being involved in a breach of fiduciary can lead to termination of your position or a loss of license, which can hurt your professional reputation.