Cannon Financial Institute

Cannon Issues & Updates: Fiduciary Investing

Investing in trusts can be tricky.  Unintended consequences arise when balancing the needs of the present and future beneficiaries with the investment approach of the trustee without a thoughtful planning approach. Property ownership, conflicts of interest, and tax implications as defined by principal and income law are all critical lenses necessary to create an appropriate fiduciary investing plan. 

Join Daniel Smith and engage in a discussion forum for insight into the issues surrounding investing in a trust as part of an effective estate plan. You will be able to share your ideas, insights, and ask questions of Daniel in this course platform.

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This course qualifies for the following CE credits:
CTFA™ CE: 1.25 HRS
CRSP™ CE: 1.25 HRS

Participating in this course will provide you with:

A working knowledge of the different client intentions and their related documents involved in investing in trusts:  property law, tax law, fiduciary law and asset management
An understanding of the importance of principal and income accounting
A discussion of the taxation of irrevocable trusts
A review of determining who pays the tax on an irrevocable trust
A review of the Uniform Prudent Investor Act (UPIA) and whether or not it is applicable in your state
A review of sole and absolute discretion

For Trust Officers, in conjunction with your Reg 9 annual review of the account, does the investment management process meet the objectives of the client so that it meets the investment fiduciary standards?

For Auditors, your focus is on risk management.  You will be concerned with the principles of risk management and fiduciary investment so you know the 1) trust department has a clear and appropriate investment management process for its fiduciary accounts and 2) they are following that process in order to manage risk.

For Financial Advisors, you will want to ensure that the investment management process you are using for trust accounts represents all of the fiduciary requirements, not just good investment principles.

For Portfolio Managers, you will want to ensure that your investment expertise is appropriately channeled for the fiduciary account in which you are investing the money to meet the Reg 9 annual review standards.

For Attorneys, the key is to understand how to properly represent the client.  Ensure there is an appropriate fiduciary investment management process in place: you may be acting as a trustee and delegating that process, you may be consulting to a trustee who is delegating it, or you may be litigating on behalf of a beneficiary for the enforcement of that process.

Note: Enrollments for this course close December 31, 2017. The discussion forum will remain open through March 31, 2018.

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