Full “All-Inclusive” Trustee
Many individuals desire one stop shopping when using a corporate trustee. SDTC has both the expertise and the technology to provide a full range of fiduciary services as “full” trustee. These services include trust administration, custody, trust accounting, tax advisory and reporting, record-keeping services, investment management and secure internet access. The “full” trustee approach is often cost-effective and convenient. As “full” trustee, SDTC provides full-time experts, a checks-and-balances system with the family and its advisors, objectivity, continuity, no conflicts of interest, and internal and external regulations.
As full all-inclusive trustee, SDTC will select one or more investment managers/advisors to achieve the client’s and the trust’s objectives, investing within the parameters of an Investment Policy Statement and the trust documents. SDTC uses nationally ranked, independent, professional money managers. Additionally, SDTC uses a multi-manager, multi-style approach, providing clients with diverse opportunities within each asset class, depending on the size of the account. SDTC will serve as full trustee for non-financial assets on a case-by-case basis.
Typically, SDTC’s “full all-inclusive” trustee service includes the following:
- Custody: Safekeeping of Assets
- Administration:
- Collection of Income
- Income of Remittances
- Cash Sweep
- Recordkeeping
- South Dakota Situs
- Tax Preparation and Reporting
- Quarterly Statements:
- Monthly, if desired
- Fiduciary Responsibility:
- Monitor Trust for Changes in Law
- Review Distributions in Accordance with Trust Instrument
- Furnish Required Regulatory Reports to South Dakota State Banking Department
- Oversee Activities of Account and Portfolio Managers through Internal Compliance Structures
- Technology:
- Secure Internet Access for Clients and Advisors
- Investment Management Selection