In recent years, as the economy has faltered and banks have failed, merged and re-emerged, the fiduciary business with its annuity revenue stream seems more attractive than ever. But is it, really? The fact is that the fiduciary business can be a bit of a minefield. Issues that could destroy profits (and peace of mind) include surcharges, loss of fiduciary commissions resulting from a predecessor's errors, plus additional risk management costs.
What's a successor trustee to do? There
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