Trustee(s) Client Case Study
Background
- Trustees were appointed to mange a trust 3 years previously
- The trust included a wide range of beneficiaries with widely different needs
- Assets:
- Investments £505K comprising:
- Cash £175K Investment Bonds £110K shares £135K Unit trusts £85K
Challenges & Concerns
- Trustees didn’t understand the various investments & had no clear strategy
- Investments were disorganised & tax inefficient
- Trustees didn’t know how well or badly the various investments were performing
- Required net income of £25K pa to enjoy retirement
- Worried about the prospect of stockmarket investment & tax implications
- Unclear over their roles & legal obligations
What We Did
- Agreed clear Trust objectives & investment timescales
- Agreed & implemented a tailored risk adjusted investment portfolio
- Simplified & consolidated investments
- Improved tax efficiency
- Introduced an accountant to prepare annual self assessment returns
- Implemented an ongoing review programme to keep things in check
The Results
- Trustees understand their obligations & financial position = Peace Of Mind
- Reduced investment risk
- Trustees have a clear set of investment objectives against which progress can be measured
- The new investment strategy improved performance
- Peace of mind for the Trustees who can now report to the beneficiaries with confidence