Advice on trustee investments?

The trustee act 2000 placed additional responsibilities onto trustees to ensure that the trust investments are suitable and are diversified.

As a consequence trustees should consider independent financial advice when reviewing the trusts investments.

Dependent on the size of the trust or the trustees experience the trustees might consider it unnecessary or expensive to obtain this expertise.

If trustees require professional advice they should ensure that the appointed adviser is appropriately qualified. They should also be regulated by the Financial Services Authority.

Although it is not a requirement the trustees should consider using an Independent Financial Adviser as opposed to a tied adviser such as a bank, building society or direct sales force adviser.

This will ensure any advice given is impartial and independent.