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'?
Mabel
Great course
Great presenter
Tammy
Title was appropriate
clearly written
Gregory
Trustee and Attorney Compensation
covered the scope of a touchy subject well
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'?
Larry
OK
OK