Britney Spears’s father loses legal right to sole control of her investments

This particular point in legal question was the authority to delegate investments. It was a matter of great conflict between the elder Spears and his daughter and their attorneys, and marks an important victory for Britney.

According to NBC News, Britney's ultimate goal is to have the conservatorship 100 percent managed by a third party, as she has stated that she is afraid of her father, and does not get along with him.

The next hearing is due to take place in court in about a month's time.

"There's no intent or desire to create unequal power or decision-making as between the two, your honor," commented Vivian Thoreen, James Spears's attorney. "This is a way to make it consistent and to not take away powers that Mr. Spears as a conservator had."

The elder Spears has had sole conservatorship for the past 12 years, and Thursday's ruling marks the first change in that paradigm.

Later, after the ruling was announced, Thoreen commented:

“My client looks forward to working with Bessemer to continue an investment strategy in the best interests of his daughter."

"My client Jamie Spears has diligently and professionally carried out his duties as one of Britney’s conservators, and his love for his daughter and dedication to protecting her is clearly apparent to the court."