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Anodos trusteeduty ss

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

CPE Processing Fee$10.00  Webinar TranscriptionN/A     Presentation Length Hour(s)1.0 hour  CPE1.0  Subject AreaSpecialized Knowledge & Applications  Course LevelIntermediate  Instructional MethodQAS Self-Study   PrerequisitesNone  Advance PreparationNone  Recorded DateMar 18, 2016  Date OfferedMar 18, 2016  Who should attend?CPA - small firm
CPA - medium firm
Other 
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

  • Identify fiduciary duties of care under Uniform Prudent Investor Act

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

  • Determine “best practices” for fiduciary governance procedures

  • Idenfity methods to reduce trustee’s personal liability

Testimonials

"An excellent speaker who really held your attention"

"Every CPA who has trustee clients should hear Josh speak. Very helpful information for our trust clients. I would like to have heard this years ago-- glad to have someone like this around."

"Exceeded my expectations, even though at first, I thought it wouldn't pertain to me after all!"

"Loved the examples provided in the slides as to how to comply with the duties bestowed on to the trustee."

"Excellent presentation with an unquestionably knowledgeable presenter."

"Good excerpts from the "real" world. Thank you!"

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Handout Materials
Presentation Slides
Additional Materials
Course Outline and Glossary
Review Questions
Review Questions
QUESTION 1: 5:30 minutes
QUESTION 2: 15:30 minutes
QUESTION 3: 49:00 minutes
Frequently Asked Questions
  • CPAacademy self-study courses are online.
  • The self-study format allows you to a) access the material online 24/7 and b) study at your own pace.
  • Per NASBA guidelines, you have one year from date of purchase to complete each program.
  • Complete your final exam at any time and get graded instantly. You can retake the exam at no additional charge (unlimited attempts).
  • Print your own certificate of completion on the spot upon passing the exam.
  • Grading policies: a) courses have a minimum passing score 70% b) test takers will not be provided feedback on failed exams.
  • Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.

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Josh Yager is a recognized content expert on the issue 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, a consulting firm that acts as a Chief Compliance Officer for trustees. What makes Anodos unique is that it does not manage money or sell insurance. Anodos helps trustees understand their legal obligations, develop procedures to meet these obligations and act as a trustee representative to execute these governance disciplines. What makes Anodos unique is that it does not manage money, sell insurance or accept referral fees. Our only service is helping trustees do a good job.

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NASBA Approved

CPAwebengage, Inc. (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.

CPAwebengage Inc. 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

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.