TRUSTS & CHARITIES
The Trustee Act 2000 (England & Wales) and Charities and Trustee Investment (Scotland) Act 2005 outline the duties and obligations of trustees. They state that Trustees must act in the way that an ordinary prudent businessperson could be expected to act. Trustees are required to:
Pay heed to standard investment criteria, namely have regard to the suitability of the investment to the Trust and the need for diversification, to the extent it is appropriate for the circumstances.
Ensure that they monitor investments regularly and vary them if appropriate.
Obtain and consider proper advice about how the power to invest should be exercised or the investments of the trusts varied.
Given this level of responsibility, professional advice is essential.
Just Financial Group’s approach with Trustees is the same as with private clients: we work hard to identify the Trust’s aims, goals and objectives. Once this process is complete, we will recommend an appropriate investment strategy and keep it under regular review, recommending any appropriate changes to the investments.
Our Trustee Investment Service enables trustees to comply with their statutory obligations. We help trustees demonstrate that they have taken and considered appropriate advice. Trustees are also able to prove that they have a suitable investment strategy, have regular reviews and have diversified their assets appropriately.