Financial advisors working with or at an Independent Broker / Dealer need advisor focused corporate trustee services based on simple model.
Advisors using the power of the Independent Broker / Dealer (IBD) business model need all their clients to exist under one compliance and custody roof.
Every trade, every marketable security, every fee deduction, and every distribution need to come from one custodian location - that being under the compliance guidelines of the IBD.
Compliance within an IBD needs to work without exceptions or carve-outs.
Using an administrative corporate trustee that does not custody assets means all activities under the legal responsibility of the financial advisor occur under the well-organized umbrella of the IBD compliance and custodian team.
Leverage all the tools offered by the IBD including trust accounts!
No need to use a corporate trustee that is not custodian neutral. No worry about how to house different accounts (e.g., IRA, taxable, and trusts) for overall asset allocation. Simple fee deduction processes using IBD tools.
Only 9% of an advisor's clients will need a corporate trustee.
When they do (client passes away or prospective client with assets elsewhere), an advisor needs a friendly trustee as fast as a dentist when they have a toothache.
Click the image below to watch a video explaining the benefits to advisors using a friendly corporate trustee
We created a quick checklist on the top four items to check when reviewing a trust document.
Your financial planning clients want you to do this.
It's tough being a financial advisor today.
Here are a few ideas in an easy checklist format to avoid becoming or being seen as a commodity by clients and/or prospects.
Advisor directs custody choice
Advisor directs investment objective
Advisor directs asset allocation
Advisor directs financial planning
Trustee controls trust administration
Trustee collaborates on distributions
Advisor suggests custody
Advisor suggests investment objective
Advisor suggests asset allocation
Advisor controls financial planning
Trustee controls trust administration
Trustee collaborates on distributions
Trustee deals with Crummey notices
Trustee coordinates premium payments
Trustee coordinates beneficiary signatures
Advisor chooses life insurance policy
Advisor controls annual policy reviews
Trustee controls trust administration
Financial advisors who ignore trustee business
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