Don’t leave funds sitting in EBT’s, RT’s and EFRBS
26/01/2011 15:48:17

If you have clients with funds in Employee Benefit Trusts (EBT), Employer Funded Retirement Benefit Schemes (EFRBS), or Remuneration Trusts (RT) then they may need to take action now.

The Trustee Act 2000 imposed specific duties in relation to the management of investments within a trust.

The Act placed a duty on the trustees to take proper professional advice appropriate with the nature and value of the trust fund. Failure to obtain appropriate advice or follow it can leave trustees liable for reimbursing the beneficiaries from their own finances years later for any shortfall or loss between the value of the fund and the value the fund would have been if advice had been sought or followed.

Unless Trustees have immediate plans for the funds then they may need to take action. AVN Wealth Managers can help in this situation. If you are interested in finding out more how AVN Wealth Managers can help your clients then enter the referral on CRIS.