I thought the presentation was very good. One thing I think would be handy to mention for the benefit of Trustees who are charging on a percentage of assets. Unless they've worked actively with a Bank Trust Department, they may not be aware that a banks percentage fee generally includes investment management. So if a professional trustee is charging 1.25%, for example and they are also paying a money manager 1-1.4% to manage the money, than they might actually be charging more than a Bank does for trust administration/investment management services. I worked for a Bank Trust Department so I understand the fee structure of both, but when I've mentioned that to professional fiduciaries, they seem not to be aware of so I think it would be helpful to have this fact as part of the discussion. If a Bank would charge a total of 1.75% and a professional trustee is charging 2.25-2.65% for the same services, then can that be considered 'reasonable compensation'?
Larry
OK
OK
Maureen
Title was descriptive of material covered
I thought the presentation was very good. One thing I think would be handy to mention for the benefit of Trustees who are charging on a percentage of assets. Unless they've worked actively with a Bank Trust Department, they may not be aware that a banks percentage fee generally includes investment management. So if a professional trustee is charging 1.25%, for example and they are also paying a money manager 1-1.4% to manage the money, than they might actually be charging more than a Bank does for trust administration/investment management services. I worked for a Bank Trust Department so I understand the fee structure of both, but when I've mentioned that to professional fiduciaries, they seem not to be aware of so I think it would be helpful to have this fact as part of the discussion. If a Bank would charge a total of 1.75% and a professional trustee is charging 2.25-2.65% for the same services, then can that be considered 'reasonable compensation'?
Gregory
Trustee and Attorney Compensation
covered the scope of a touchy subject well
Tammy
Title was appropriate
clearly written