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Anodos trusteeduty

REDUCING PERSONAL RISK: A TRUSTEE'S GUIDE TO HANDLING DUTIES OF CARE

Cost Free
CPE Credits 1.0 hour
Subject Area 1.0 - Other
CE Credits 0.0 hours
Course Level Intermediate
Instructional Method Group Internet Based
Prerequisites None
Advanced Preparation None
Course Description

Each year, an estimated 3 million 1041 tax returns are filed. Of these returns, 2 million are filed by individual trustees, while the rest are filed by corporate or institutional trust companies. Therefore, it is likely that most CPAs will at some point serve as trustees or have clients that serve as trustees.

CPAs are in a unique position to help trustees develop and follow a deliberate governance process, which saves time, reduces personal risk, and ensures compliance with duties of care.

This course will help fiduciaries reduce their personal risk by showing them how to create a compliance library that demonstrates they have fulfilled each of their duties of care under the Prudent Investor Act. Developing this library demonstrates the trustee has acted prudently and in good faith.

This library will include the following documents:

• Duty to have a plan
• Duty to balance risk and return
• Duty to diversify
• Duty to pay only reasonable fees
• Duty to prudently delegate

Learning Objectives

  • Review fiduciary duties of care under Uniform Prudent Investor Act

  • Identify a process for the development and maintenance of a fiduciary library

  • Share “best practices” for fiduciary governance procedures

  • Reduce trustee’s personal liability

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Josh Yager is a recognized content expert on the issues of fiduciary duties relating to the management and oversight of trust assets. He lectures extensively on the policies and procedures for conducting investment manager audits to CPAs, attorneys, and professional fiduciaries throughout the country. Josh is Managing Partner at Anodos Advisors and a licensed attorney. Prior to founding Anodos in 2005, Josh worked for fifteen years as an investment advisor with Mercer Advisors. Josh likes to read books about dead presidents.

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Frequently Asked Questions
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  • CPE is available to all eligible participants within 24 hours of each webinar.
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NASBA Approved

CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

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About Our Presenter

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Anodos helps trustees (ERISA, Individual, and Endowment) save time, reduce their personal risk, and fulfill their fiduciary duties. We do this by helping the trustee conduct audits of the money managers to whom investment duties have been delegated. We help our clients answer the question "Are the investment managers and consultants as good as they claim to be?" Fiduciaries have an affirmative duty to provide ongoing and independent oversight of the money managers. What makes us unique is that we do not manage money or sell insurance. Doing fiduciary audits, benchmarking studies, and performance attribution is all we do.