We provide investment advice to trustees, helping them meet their legal obligations set out under the Trustee Act 2000 which applies in England and Wales. This act set out the powers and statutory duties of trustees.
Statutory Duty of Care
The statutory duty is to exercise such care and skill as is reasonable in the circumstances having regard in particular to any special knowledge or experience that the trustee has or holds themselves out as having and, if they act as a trustee in the course of a business or profession, to any special knowledge or experience that it is reasonable to expect of a person acting in the course of that kind of business or profession.
This statutory duty of care applies when making new or reviewing existing investments.
Standard Investment Criteria
The Act requires trustees to look at the ‘standard investment criteria’ when investing. These require the need to check the suitability of investments for the trust, and the importance of diversification of investments. Trustees must regularly refer back to the standard investment criteria to check that they are being fulfilled.
We provide a comprehensive review process for Trustees including:
- Trustee review meetings incorporating a comprehensive agenda.
- The production of documented minutes recording the meeting.
- An economic and market update to help trustees understand the current environment.
- A valuation of trust property.
- A review of the asset allocation of the trust property including rebalancing the investment portfolio.
- Helping trustees consider the differing needs of beneficiaries when investing for income or growth.
- Investment research provided in association with OBSR.
If you are a Trustee and you would like to know more?
If you ‘d like to know more about how we help Trustees meet their legal obligations, please feel to call us on 01626 833225 to find out more or to arrange an initial complimentary meeting.