When looking to establish a structure to hold your family wealth, one of the most important things you will have to do is select a professional services company to act in a trustee, directorship of other fiduciary position.

A fiduciary relationship arises where an individual or corporate entity is placed in a position of utmost trust and confidence to manage and protect property or money for another’s benefit.

Important features of a good fiduciary include:

INTEGRITY – A fiduciary must act professionally and with the utmost integrity at all times. They must apply themselves in fulfilment of the objectives of the structure, complying at all times with the terms of the constitutional documents and the law.

ACCOUNTABILITY – Trustees and directors are legally accountable to those they serve and can face personal liability if they fall short of the very high standards imposed upon them. Jersey trustees are also regulated by the Jersey Financial Services Commission and are required to operate in a transparent and cooperative way.

INDEPENDENCE – A trustee must act free from conflict or influence. Its ability to do this and offer continuity of service and control its own risk appetite will depend upon its ownership structure. Clients should understand the differences between institutional, private equity and independent trustees.

COMPLEXITY – It is essential that those overseeing the structure are prepared and able to manage complex issues including cross-border challenges and to hold a wide range of asset classes. A high quality trust business will ensure its team includes a wide variety of legal, accounting and administration professionals.

Key Features

Acting as professional trustee or co-trustee
Acting as protector, enforcer or council member
Provision of corporate or personal directors
Provision of directors to the boards of Private Trust Companies
Provision of locally resident trustees and directors
Good governance & economic substance

Key Contact

Naomi Rive

Group Director & Head of Private Wealth

+44 (0) 1534 480 601