SLG LiveSite Portlet

Trustee Investing

Overview

We can help you to understand the rules covering the actions of trustees in relation to how assets are invested.

Estate planning often involves the use of trusts, where the trustees will have responsibility for making investment decisions. There are rules covering the actions of trustees in relation to how assets are invested. We can help you to understand these rules so you can make valuable recommendations to your clients.

Understanding the trustees’ responsibilities

There are few restrictions on who can act as a trustee. Where family wealth is concerned it’s not unusual for a family member, or the person who created the trust, to act as trustee. However, few ‘family’ trustees will be fully aware of the wide range of their duties and the range of points they need to consider. With our support, you can take a structured approach to helping them, covering topics including:

  • Investment strategy – above all, this will be driven by the goals of the trust
  • Asset allocation – the long term nature of many trusts will impact on the asset classes selected
  • Tax wrappers – opportunities to manage the tax liabilities of the trust are always important
  • Monitoring and reporting – trustees need to be able to evidence their decision making and review processes

Benefits for your clients

  • Confidence - trustees feel more confident about meeting their obligations
  • Structure - trustees benefit from a documented process

Benefits for your business

  • Increased value of your advice - once trustees understand their duties, they are likely to appreciate the need for your specialist advice and to regularly review their investment strategy
  • Potential access to new clients - by working with trustees, you may gain access to new clients such as beneficiaries
  • Potential new professional connections - through working more closely with law firms or accountants who also advise trustees you may create new business opportunities
  • Enhances your reputation - adopting a structured approach to advising trustees can distinguish you from other advisers by showing your expertise in the trust market

Trustee Framework

It is important for trustees to be able to show that they have followed a well-documented and robust investment process for the trust fund. We provide a wide range of information to help you support your clients:

A framework for trustee discussions
Use these supporting documents as a framework for your discussions with trustees.

You can obtain the following documents from your usual Standard Life contact.

Trustee Factfind
Captures the basic essential information about a trust client.

Trustee Meeting Guide
A guide to help you talk trustees through the investment advice process.

Investment Policy Statement
Our draft investment policy statement can be a useful framework to help you help your clients. An investment policy statement records all of the key aspects of a trust’s approach to investing assets. Though not always compulsory, a statement will help to guide the trustees and illustrate that they are taking a professional approach to their duties.

Joint Venture Documents

Use this supporting document when establishing a joint venture with a law firm in England and Wales. Ask your usual Standard Life contact for this document.

Joint Venture Checklist
A summary of the key points in the Joint Venture Overview.

Literature

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