TRUSTEES

What is a trustee?

Being a trustee is often an important way to help a friend or family member. It means you take responsibility for money that’s been set aside in a trust for someone else. You’ll manage the money for them, only use it in their best interest and obey the rules of the trust.

What is a trust?

A trust is a way to manage money or other assets for someone else.

There are three key people involved in any trust:

  • The settlor – the person who puts the assets or money into the trust.
  • The beneficiary – the person who benefits from the trust.
  • The trustee – the person who manages the trust.

The settlor is responsible for appointing the trustee to administer the trust and decide who the beneficiaries of the trust are. There may be more than one settlor, beneficiary or trustee involved in a trust.

Someone might set up a trust for a beneficiary because the beneficiary:

  • Is too young to manage their own affairs, typically under 18.
  • Is an older person who needs to pay for long-term care.
  • Has a permanent disability which means they can’t manage their own affairs.

How we can help trustees

Trustees have a vital role to play in running a defined benefit scheme, as it is a complicated, time-consuming and often expensive process.

Essentially, trustees ensure that the scheme benefits are protected for members.

Their responsibility in maintaining services that are not only comprehensive, but also provide good value, is an ongoing challenge.

It can be a daunting prospect and therefore it’s important for trustees to know that they have somewhere to turn for help.

We understand the priorities and concerns that face trustees.

We have a number of solutions available that have been designed to help Trustees.

We can provide access to Professional Trustee Solutions, who can find a bespoke strategy for incorporating cost-effective actuarial and administrative services combined with the St. James’s Place distinctive approach to investment management.

The value of this investment will be directly linked to the performance of the funds you select, and the value can therefore go down as well as up. You may get back less than you initially invested.

Testimonials

I have known her as our family Financial Adviser for about 10 years. She has always put my interests first and given sound advice. I found her to be pleasant and trustworthy. Her service and support has always been exceptional. I get great pleasure in recommending her to anyone.
Thurairatnam Kathirgamakarthigeyan
Retired Eye Surgeon
Andrea has been wonderful, and I feel confident in discussing my financial matters with her as I know she will treat my affairs confidentially. She has always been there whenever I needed - literally with a click of a button and the support, she provides is extraordinary. She has gone out of the way to help me on a few occasions. I will not hesitate to recommend her to anyone.
Sandy Shiralkar
Consultant Vascular Surgeon
Andrea has provided us with exceptional service and advice. We feel that Andrea has listened to what we want and need and has helped us to build a robust retirement plan. We would recommend Andrea to our friends and family.
Claire Richards
Manager

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