Trustees

If you are investing as a trustee, there are specific duties under the Trustee Investment Act 2000 with which you will need to comply. The investment portfolio has to be suitable and diversified. You have a duty to keep the investments under review and take advice. That’s where we can help.

We advise many trustees and will find the most tax efficient solution and right investment mix to meet the needs of the beneficiaries.

We will review the trust fund at least annually and provide a full written report. We can attend trustees’ meetings and provide minutes for you.

For us, the investment fundamentals are the same, but for a trustee there is a raft of legislation and a lot of responsibility that can be overwhelming without guidance and help.

The Trustee Act 2000 stipulates that trusts should obtain and consider proper advice. This means taking advice from an appropriate expert. In the case of the set-up of the trust, this would be a solicitor. The tax treatment might go to an accountant or tax adviser. In the case of trustee investments, a properly authorised financial adviser should be consulted. This is particularly relevant when considering the need to diversify investments and to review them.