Comments for http://thetrustadvisor.com Tue, 31 Jan 2012 21:41:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 Comment on More Advisory Firms Seen Switching to Trust Charters to Ease Regulation by Scott Martin http://thetrustadvisor.com/news/trust-charters/comment-page-1#comment-2254 Scott Martin Tue, 31 Jan 2012 21:41:00 +0000 http://thetrustadvisor.com/?p=6120#comment-2254 Hi Mike -- thanks for reading and excellent points, especially on the core competencies side. This isn't for everyone and from everything I've seen, the regulators will make that clear up front. For those advisors large and small who don't want to reinvent their own wheel, we've got the latest update on advisor-friendly directed trust companies coming up in a few weeks. Plenty of names there to choose from. Hi Mike — thanks for reading and excellent points, especially on the core competencies side. This isn’t for everyone and from everything I’ve seen, the regulators will make that clear up front.

For those advisors large and small who don’t want to reinvent their own wheel, we’ve got the latest update on advisor-friendly directed trust companies coming up in a few weeks. Plenty of names there to choose from.

]]> Comment on More Advisory Firms Seen Switching to Trust Charters to Ease Regulation by Mike Flinn http://thetrustadvisor.com/news/trust-charters/comment-page-1#comment-2253 Mike Flinn Tue, 31 Jan 2012 21:20:00 +0000 http://thetrustadvisor.com/?p=6120#comment-2253 As someone who has consulted directly with independent advisors for over 20 years in this specific arena, I see this as a very "slippery slope". It is typically not as easy as simply plopping down $200k-$1M in capital and surplus and hanging out your Trust Company sign. It also becomes a question of "core competencies." For most firms, these typically include "Relationship Management" and "Asset Management." Taking on the additional role as a corporate trust fiduciary brings an entirely new set of required skills as well as additional regulatory requirements. These include hiring, training and retaining trust officers/administrators; maintaining a trust accounting system; accepting liability for non-manageable assets, and other services and expertise that lie outside of the typical relationship and asset management skill sets. If "stickier" assets and greater control are the primary motivating factors, it may also be prudent to consider a "partner" vs "build" strategy. As a result of the "unbundling" of traditional corporate trustee services, there are now several "Independent" trust companies that will not threaten an advisor's primary competencies of asset and relationship management. (See previous Trust Advisor Article http://thetrustadvisor.com/news/fees3q10.) By partnering with one of these firms an advisor may be able to "have their cake and eat it too" without the risk and capital outlay required for a "build" strategy. As someone who has consulted directly with independent advisors for over 20 years in this specific arena, I see this as a very “slippery slope”. It is typically not as easy as simply plopping down $200k-$1M in capital and surplus and hanging out your Trust Company sign. It also becomes a question of “core competencies.” For most firms, these typically include “Relationship Management” and “Asset Management.” Taking on the additional role as a corporate trust fiduciary brings an entirely new set of required skills as well as additional regulatory requirements. These include hiring, training and retaining trust officers/administrators; maintaining a trust accounting system; accepting liability for non-manageable assets, and other services and expertise that lie outside of the typical relationship and asset management skill sets.

If “stickier” assets and greater control are the primary motivating factors, it may also be prudent to consider a “partner” vs “build” strategy. As a result of the “unbundling” of traditional corporate trustee services, there are now several “Independent” trust companies that will not threaten an advisor’s primary competencies of asset and relationship management. (See previous Trust Advisor Article http://thetrustadvisor.com/news/fees3q10.) By partnering with one of these firms an advisor may be able to “have their cake and eat it too” without the risk and capital outlay required for a “build” strategy.

]]> Comment on Mistresses and Broken Marriages Cost Arnold, Tiger and Kobe Millions: Wealth-Wise Tips for Spouses Thinking About Straying from the Nest by Chuck http://thetrustadvisor.com/news/infidelity/comment-page-1#comment-2249 Chuck Mon, 16 Jan 2012 17:32:00 +0000 http://thetrustadvisor.com/?p=5856#comment-2249 What odds can a bettor get that Elin will have a higher net worth than Tiger in 20 years? What odds can a bettor get that Elin will have a higher net worth than Tiger in 20 years?

]]> Comment on Best and Worst Trust Accounting Software for 2011 by Carlene Schnitzer http://thetrustadvisor.com/news/accounting2011/comment-page-1#comment-2248 Carlene Schnitzer Tue, 10 Jan 2012 17:13:00 +0000 http://thetrustadvisor.com/?p=3980#comment-2248 When companies have full workloads that cannot meet the deadline, they should find the means to address this. There are various software created to help employees do their jobs and, luckily, there are lots to choose from. It's important to choose one which works best for the company. When companies have full workloads that cannot meet the deadline, they should find the means to address this. There are various software created to help employees do their jobs and, luckily, there are lots to choose from. It’s important to choose one which works best for the company.

]]> Comment on Corzine Shopped For French Chateau Just Before MF Global Collapse by Beitfw http://thetrustadvisor.com/headlines/corzine-french-chateau/comment-page-1#comment-2247 Beitfw Mon, 09 Jan 2012 15:33:00 +0000 http://thetrustadvisor.com/?p=5697#comment-2247 The money is in france. The money is in france.

]]>