Are you working with a directed trustee and have been given investment discretion within a trust document? This guide breaks down the three simple options of how the lines of communication work between you, ICON, and a financial advisor.

Option A - You are the coach. You call the shots (80% of the time)

Step 1:

You have a conversation with your financial advisor about your desire to buy 50 shares of Apple stock.

Step 2:

You call or email ICON directing us to purchase 50 shares of Apple stock.

Step 3

ICON calls or emails your financial advisor telling them to purchase 50 shares of Apple stock.

Option B - You are the GM. You delegate to your advisor, they call the shots (15% of the time)

Step 1:

A financial advisor has a call with you about the parameters of a fully discretionary investment account. The financial advisor explains that if he/she stays within these parameters the three parties do not have to communicate back and forth.

Step 2:

You confirm with ICON you want to give your financial advisor discretionary approval.

You direct ICON to sign the financial advisor’s discretionary authorization form and Investment Policy Statement (IPS).

Step 3

ICON calls or emails your financial advisor with confirmation to implement their Investment Policy Statement (IPS).

Option C - You are the player. You take the shots (5% of the time)

This is a true bifurcated trust. You have full investment responsibility and should be able to make all investment decisions and direct your financial advisor without any consultation with or involvement by ICON.

*This is how technically it should work, but most of the financial industry/custodians as a whole have not adopted this approach yet.

Conclusion

This guide was created to help you in working with a directed trustee. The goal was to show it is not complicated. The first couple of interactions will be a learning process and once you get the process down, it will be smooth sailing.

Do not hesitate to call your trust officer if you have any questions (702) 998-3700.