Trustees costs

You can choose a personal friend, relative, professional, or the trust department of an institution as your trustee. There are advantages and disadvantages to each. A personal friend may know and understand you and the beneficiaries, but may not be experienced with investments. A professional may not know you or your beneficiaries, but have the experience. A trust department in a bank won t move away or die. It also has a staff of professionals. Finally, the cost of a trust must be taken into consideration. The choice is yours. 

Ever vigilant, the board of trustees identified the problem early. To better understand the cost of providing service, the board hired the services of a health care consulting firm. The consultants are charged with meeting with key hospital department heads to identify opportunities for reducing the cost of doing business. Of course, the director of pharmacy and his staff are on the list. 

However, there are various costs such as those associated with the initial set up of a scheme, annual trustee and fund management services fee, switching fee, buy-and-sell spread, cash rebate, discount, associated benefit packages, payroll/MPF contribution conversion software as well as many others. In addition to after-sales service, it is a combination of some or all of the above that provides the appeal to the employer when making an MPF selection decisions. 

Reduction of Administration Cost Without the electronic process, the cost of exchanging information between the company and the trustee involves lots of manual work, use of paper documents, delivery charges and time delay due to delivery time. Using electronic information exchange, all these processes can be done speedier and at much lower cost. 

Most trustees would prefer not to exercise discretion in agreeing to an amendment. In the real world, however, the issuer will be keen that the trustee exercise discretion and the trustee will be mindful that its ability to exercise discretion in a given instance could benefit all parties from a time and cost perspective. Such considerations cannot deter the trustee from its duty to act in the best interest of all bondholders. However, they do compel the trustee to take an honest look at the proposed modification. 

Canon 4 states, "Engineers shall act in professional matters for each employer or client as faithful agents or trustees, and shall avoid conflicts of interest." It presents a potential ethical dilemma when the employer/ client s interests are in conflict with public interest (e.g., if cost-cutting to make a project economically viable makes it imsafe). In such cases and in all others, the requirement of Canon 1 to hold public safety and welfare paramount must be the deciding factor, even if the client believes it not to be in his interest. 

The Chemical Council is a body which was established in 1935 by the Chemical Society, the Royal Institute of Chemistry and the Society of Chemical Industry, with representatives from the Association of British Chemical Manufacturers, the Faraday Society, the Society for Analytical Chemistry and the Biochemical Society. It acts as trustees for various funds contributed by industry which are used for subsidies to the constituent societies to meet deficits in the costs of their publications, to assist in the publication of abstracts, and to support the maintenance of the library of the Chemical Society. 

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