The UK Financial Conduct Authority (FCA) today issued a warning regarding mismanagement of ‘asset protection’ trust schemes.
The regulator has seen cases of firms seriously mismanaging trusts with unsuitable investments being made by trustees.
A trust is a legal arrangement set up to manage assets, such as property, money or shares. When run correctly, trusts can deliver good outcomes and be an efficient way to control and protect these assets. Trusts have legitimate uses, for example in estate planning, in safeguarding the assets of children or those who are incapacitated, and in some regulated investment structures.
When you start a trust arrangement, the trustee (the people…
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