Family offices often cite documenting discretionary and administrative actions and managing associated costs as amongst the main challenges they face as Trust administrators. They rely on staff using Microsoft Office Suite software for spreadsheets or maintaining paper files which often causes more trouble than it solves.
Fiduciary Risk Systems knows that the best risk mitigation is found in procedures and processes supported by the records provided by a technically correct, compliant and automated technology platform.
FRS records all discretionary and non-discretionary actions by a trustee, provides a secure, digital account history for quick data retrieval and presents account details in a logically structured manner to support real time decision making. Utilizing the FRS platform is a cost-effective way to mitigate risk.
Fiduciary Risk Systems’ automated approach is designed, tested and used by licensed, professional fiduciaries to integrate best practices into policy, procedures and processes to comply with required duties all fiduciaries must follow. Our infrastructure facilitates documentation of discretionary and non-discretionary actions, oversight and monitoring of investments, tracking unique assets, annual account reviews and accountings, tax reporting, statement production and more. Learn more by contacting us for a complimentary consultation.