Why Choose a Corporate Fiduciary?
We thought it might help to outline some of the benefits you receive when using a Corporate Fiduciary over a family member. Read the four reasons to hire a corporate fiduciary below.
Career fiduciary trust experts know the specialized laws of fiduciary & trust management, and how to manage assets for other as a fiduciary. This is what we do every day. Family members may not be up to date or experienced to handle the estate or trust process for family assets.
A corporate fiduciary does not get sick, die, or become distracted by personal activities; thus provides continuing expertise, access to a professional network, and ongoing accounting and record keeping.
Regulatory Oversight & Insured/Bonded
As a corporate fiduciary we are regulated by state and federal examiners, subject to audits, required to maintain insurance and bonding against errors and omissions, fraud and liability. We embrace our corporate fiduciary standards.
Impartiality and Family Harmony
A corporate fiduciary must treat all beneficiaries in an objective manner versus a family member with personal biases. Family members may experience being pressured to favor one over another leading to potential family disharmony brought on by conflicts of interest. A corporate fiduciary can be in the role of arbitrator, mediator, and/or make a difficult decision when needed. The corporate fiduciary may be in a better position to determine what is equitable, which is often times different than what is equal.
Matt Riley was named Fiduciary Officer and VP for First National Bank and Trust Company in December 2018, helping clients to meet their prosperity goals through investment and estate planning. Prior to joining FNBT, Matt had risk and compliance analysis experience at State Farm Bank in Bloomington, Ill. Matt is a proud Illinois State University Alumni, receiving his B.S. in Finance with an emphasis in Financial Planning. He has continued his education journey, earning other designations including the Chartered Financial Consultant designation. In addition to his bank service, Matt became a member of the Clinton Rotary Club in April of 2019 and became a board member for the Warner Hospital & Health Services Foundation in May of 2019.
About First National Bank and Trust Co: First National Bank & Trust Company is a community bank located in Clinton, Illinois. Dedicated to community prosperity, the bank was chartered in 1872 under the name DeWitt County National Bank. The name was changed First National Bank and Trust Company in 1974, and was acquired by TS Banking Group in 2017. With $186 million in assets, First National Bank is dedicated to community reinvestment and gives 10% of its net income back to the community. For more information visit firstnbtc.com.
*Investment products are: Not a Deposit, Not FDIC Insured, Not Insured by any Federal Government Agency, Not Guaranteed by the Bank, May Go Down in Value