If you are involved with the running of a trust you will need to know the complex rules surrounding trustee investments. The Trustee Act 2000 imposes various duties upon trustees including a statutory ‘duty of care’ when reviewing trust investments or making or amending investments.
In addition to observing the statutory duty of care, the Act further demands that when exercising a power of investment trustees must:
- Obtain and consider proper advice before exercising their power of investment
- Have regard to the need for diversification and the suitability of the proposed investments to the trust (known as the ‘standard investment criteria’)
- Periodically review the trust investments
Gilbert Stephens Financial Services Limited are in an ideal position to provide this much needed sound advice. As we are a subsidiary company to Gilbert Stephens Solicitors LLP our advisers have a vast wealth of experience in dealing with this type of business, working closely with professional partners who act as trustees and assisting them in complying with their duties.
When providing advice on trustee investments our Independent Financial Advisers will consider the following areas:
- The needs and requirements of the different beneficiaries, for example, income for the life tenant versus capital for the remaindermen, those who will inherit when the trust is wound up
- Attitude towards investment risk of the trustees
- The charging structure and product charges based on the value of the trust fund
- Tax status of the beneficiaries, trustees and settler where relevant
Why choose us?
It is essential that trustees carry out regular reviews of the trust investments, considering not just performance but also the overall investment strategy, as the needs of the beneficiaries will often change. At Gilbert Stephens Financial Services Limited we offer an ongoing review service to help trustees meet this obligation. Also, all investment advice is confirmed in writing to assist trustees in meeting the requirement of an audit trail.
Please get in touch
E-mail: or contact one of our team.