What is a Fiduciary?

A fiduciary is a person who holds something in trust, acting on behalf of another (as in managing money or property). A fiduciary assumes a duty to act in good faith with care, candor, and loyalty in fulfilling his or her obligations.

Do you need a Professional Fiduciary?

Managing a trust is an extremely complex job that requires great attention to detail and an understanding of both financial and legal issues. Some people find that they are too busy, lack the experience, or are having health issues that prevent them from being able to manage all of the endless details involved in administering a trust. Many individuals and families find that they benefit from the personalized service that a professional fiduciary offers. When you hire Wallace Fiduciary Services (WFS), we take the worry and hassle out of managing, tracking, and investing the assets of your trust. We pay the bills; scrutinize service providers’ fees; monitor all investments; and provide regular, detailed reports to the beneficiaries.

Three Great Reasons to use WFS instead of a bank as your Trustee

  1. Personalized Service: At WFS we believe that your personal well-being is as important as your finances. We offer a level of care management services that ranges from monthly in-person visits all the way up to coordinating and overseeing personal care for the infirm. We stay in close communication with all of our clients so that if there is a change in your life, we’re there to assist you.
  2. Responsiveness: We offer flexibility that banks cannot. If a change or special circumstance occurs in your life, or there is something that requires immediate action, there is no review board needed to approve action; we can take care of your needs quickly and efficiently.
  3. No Hidden Fees or Commissions: Most banks charge a 1%/year trustee fee; meanwhile they are often buying their own investment products with the trust’s funds. At WFS we use reputable outside investment firms, and we believe that an investment package should be tailored to what’s best for the trust and the individual/s that it was designed for.