THE TRUST FIDUCIARY STANDARD
PUTTING YOUR INTERESTS FIRST

Headlines in recent years have made clear the need for care in choosing investment advisors. Financial relationships should be built on a foundation of trust, integrity and transparency. At a time when there are more concerns than ever about risk in the markets and among financial advisors, it should be comforting to know that the standard of care to which U.S. Trust is held, and which we proudly observe, is the highest of all.

A steadfast commitment

Fulfilling our commitment demands that we focus on the factors influencing your well-being, now and in the future: family considerations, lifestyle needs, charitable aspirations, legacy goals — every dimension of life that intersects with your finances. Though there will always be volatility in the markets, this focus can be a source of real confidence for those concerned about market instability, as well as for those who demand a disciplined approach to investing.

The fiduciary standard

U.S. Trust has long been held to — and continues to observe with pride — the highest fiduciary standard of care when acting in a fiduciary capacity1 in dealing with our clients and their wealth. Whether we are managing your portfolio, administering a trust, or assisting you in developing a wealth plan to guide you and your family, our focus is what best meets your objectives and expectations.

Your best interests are ours as well. The fiduciary standard is the foundation for a consistent, disciplined investment process.

  • When we provide investment services to you, your portfolio manager works with you to design a formal investment policy statement. As a result, your portfolio is driven by your personal and financial objectives and the asset allocation that is specifically designed to meet them.
  • In adhering to this standard, our commitment, first and foremost, is to serving your best interests and placing those ahead of our own.
  • When we call upon our partners and affiliates at Bank of America to assist us, we provide disclosure of conflicts of interest we believe may exist.

Focusing on our obligations. Because we are a national bank, government regulators examine our fiduciary activities regularly to assess compliance with our responsibilities.

  • Through a prescribed process, we review all fiduciary accounts to see that fiduciary investment standards are being met and that those accounts are being administered in accordance with their investment policy statements, governing documents and laws and regulations.
  • When we serve as trustee, we monitor adherence to the terms of the trust document as well as the unique investment and wealth transfer objectives of the trust to help ensure that we are meeting our fiduciary obligations to you and the trust beneficiaries, both present and future.

Managing your worth

Your wealth is not measured by numbers alone, but by the extraordinary opportunities and complex challenges that define your life. At U.S. Trust, we apply our deep insight and broad expertise to help you make the most of the things that matter most to you.

We begin by listening to you, learning about your life, and we work with you to understand your priorities. Your advisor and your team of specialists then build a wealth plan that aligns with your personal values and family goals. When we serve as your fiduciary, whether we are managing your portfolio or administering a trust, our focus is on what best meets your objectives and expectations. Together, we develop personalized solutions that address the dimensions of your worth today and the legacy you’re building for future generations.

1 Bank of America, N.A. and U.S. Trust Company of Delaware (collectively the "Bank") do not serve in a fiduciary capacity with respect to all products or services. Fiduciary standards or fiduciary duties do not apply, for example, when the Bank is offering or providing credit solutions, banking, custody or brokerage products/ services or referrals to other affiliates of the Bank.

This content is designed to provide general information about planning ideas and strategies and does not constitute legal advice, and is not intended to be all-inclusive. It is for discussion purposes only since the availability and effectiveness of any strategy is dependent upon your individual facts and circumstances. Always consult with your independent attorney, tax advisor, investment manager, and insurance agent for final recommendations and before changing or implementing any financial, tax, or estate planning strategy.

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