PRIVATE TRUST COMPANIES
THE COMPLEXITIES, RISKS OF LIABILITY & POTENTIAL FOR
LITIGATION CAN INCREASE COSTS QUICKLY
Private trust companies are often formed when high net worth families find the typical corporate fiduciary a poor alternative for their unique needs. This entity acts as a vehicle to consolidate family trust administration while satisfying corporate fiduciary requirements of family trust documents. Even though a private trust company doesn’t serve the general public, those working in a private trust company still need support and infrastructure to properly satisfy their fiduciary duties of proper trust administration. The complexities, risks of liability and potential for litigation can increase costs quickly.
FIDUCIARY RISK SYSTEMS CAN HELP
Fiduciary Risk Systems can help. FRS’ automated platform is supported by an experienced, U.S. based customer service team that provides the FRS client with best in class, fully compliant fiduciary support. Our proprietary system facilitates documentation of discretionary and non-discretionary actions, oversight and monitoring of investments, tracking specialty assets, annual account reviews and accountings, tax reporting, statement production and more. Whether you are an experienced trustee or new to the role, fulfilling the requirements of a fiduciary can be difficult. FRS service and automation capabilities reduce costs and potential liabilities, streamline processes and assure institutional-standard best practices. Learn more by contacting us for a complimentary consultation.