Why a trust company is important

Why a trust company is important

Save time and money with a trust company

A customer can save money with an independent trust company. Many of the professional services that an individual should take can be performed by experienced fiduciary professionals who can answer many of the questions a person would have in creating a trust document, managing a process. This does not mean that an attorney is not required in the preparation of trust documents. They are, but initial discussions with a professional trustee can save time and money and facilitate the process before a lawyer completes the final document. Provided that the trust company does not have a legal support team.

Security and asset protection is another reason to consider an Offshore Trust Company. Independent trust companies are held to the highest standards of conduct and are subject to broad regulatory oversight. Furthermore, customer assets are not interpenetrated with the capital of the trust company. Double control drives the management and distribution of client funds and a trustee has the legal obligation to supervise the investment portfolio to ensure that the assets are managed based on the objectives and needs of the clients.

Finally, an independent trust company is an organization of people. An organization that, by definition and mission, has the task of monitoring and ensuring that the client’s assets are managed and administered as planned. An independent trust company offers continuity from one generation to another, as shown by the case of Fidinam, which has been active for over 55 years. Most independent trust companies are composed of professionals who have already demonstrated competence in the field of trust management and this experience is a tangible advantage that cannot be ignored. Furthermore, the management of independent fiduciary companies normally has a financial commitment towards the company and this acquired financial interest guarantees stability.

The choice of a trust company is a critical decision to make in the financial planning and real estate process, but the decision is often made by looking at convenience or tradition, at personal relationships. Often the professional competence of a trustee is neglected to represent the declared interests of the trust and to exercise all the fiduciary duties required, which must be performed without prejudice, looking at the pre-established economic objective. In the past, it was often the families that managed the assets together with the banks, but the emergence of independent trust companies questioned the traditional sources of trust administration and investment services for the following reasons:

An independent trust company has the autonomy and the ability to exercise its own decisions and to manage a relationship of trust in the light of the normative document for all the beneficiaries without the conflict of interests often associated with large investment banks. This is the essence of the concept of independent company trustee.

An independent trust company is focused on a single business and is composed of experienced professionals who are dedicated to building and sustaining a close and personal relationship with their clients, their families and their professional advisors. Independent trust companies believe in partnership.

An independent trust company is a regulated entity and must operate on the basis of statutes that regulate the capital requirements and the actions that satisfy the interests of a trust. The trustees are trained, prepared and experienced professionals in the fulfillment of the duties they are called to perform. Often a family member or friend does not meet these requirements and is unprepared to perform the duties of an impartial trustee.

A trust company takes its responsibilities seriously and regularly exercises its authority, its experience in the interests of its customers.


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