OUTSOURCING TRUST ADMINISTRATION
Castlewood Trust & Company Limited is experienced at dealing with outsourced trust administration and can offer a highly competitive service.
The issues faced by accountancy and legal practices - in relation to running a trust department - are numerous:
- Escalating costs of providing the service
- Staff recruitment and retention can be problematic
- Increasing and changing regulation
- Trustee risk
Often the small number of trust structures involved means that it is virtually impossible for an organisation to administer them efficiently and therefore profitably.
The advantages of outsourcing are:
- Cost efficiency
- Maintain control but use “experts” in their particular field
- Save recruitment and training costs
- Key staff can be deployed in higher revenue generating work
- Flexibility – the trust company can provide all or just part of the process
- More opportunity to concentrate on core business
- Retain control of the client relationship (we can “white label”)
- Remove recurring requirement for expensive software
- Significantly reduced risk and PI cost
Castlewood Trust & Company Limited. Registered in England No 4240495 Registered Office: 3rd Floor, 70 Gracechurch Street, London EC3V 0HR
The information contained within this website does not constitute advice, is necessarily limited in scope and statements made are consequently general in effect. Although every effort has been made to ensure the accuracy of the information Castlewood Trust & Company Limited cannot accept responsibility for any loss suffered as a result of persons relying upon it. Clients are advised to consult with us or their own professional adviser.
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