Advice for Trustees

Expectations as a Trustee

Put simply, a Trustee is a person who takes responsibility for managing money or assets for the benefit of somebody else. This could be on behalf of an individual where you will often be aware of someone being a trustee of a family trust or an organisation, such as a charity or pension scheme.

Trustees have a number of obligations to meet, both legally and ethically and so it should not be entered into lightly. 

Depending on how the Trust was set up you may have some discretion in how to invest but there is always a duty of care to fulfil.

There is a requirement to obtain and consider proper advice about how the power to invest should be exercised or the investments of the trusts varied.

How we can help

The Trustee Act 2000 outlines some key principles of being a Trustee.

These include obtaining proper advice for trustees, ensuring suitability, maintaining diversification and reviewing your investments.

As investment experts, we can offer independent financial advice on the most suitable types of investment to ensure that you are meeting your obligations and investing in a manner that meets the requirements of the Trust.  

This will include sound financial planning to maximise any tax benefits and match the levels of investment risk and diversification that are acceptable.

We can keep your investments under review and offer an ongoing independent financial advice service to keep you up to date with market movements and any legislative changes over the review period.

If you'd like to make an initial free no-obligation appointment to establish or review your plans, you can contact us by email or by calling the office on 0141 572 1340.