This follows a decision by ANZ to cease its estate planning service from the end of June 2024 and comes 10 years after Equity Trustees acquired the ANZ Trustees business.

The addition of the ANZ will bank expands Equity Trustees’ existing will bank to be one of the largest in the country -recently boosted through the acquisition of Australian Executor Trustees (AET) in December 2022.

“Equity Trustees represents a natural home for those clients and their wills given that a number of them already have relationships with Equity Trustees – largely because of trustee or executor appointments in their estate planning documents,” said Ian Westley, EGM, Trustee and Wealth Services, Equity Trustees.

“The will bank now holds the wills of more than 200,000 Australians, cementing our place as Australia’s leading executor, trustee and estate planning services provider,” he said.

“While thousands of law firms around the country also create wills and estate plans and hold them for safekeeping, none have our volume and few would have a record of nearly 140 years of providing continuous service and security for those documents.”

“The value of this continuity of service becomes clear when you understand that many wills contain instructions to establish philanthropic trusts – and appoint a trustee to manage that trust in perpetuity. Examples include the Sylvia and Charles Viertel Charitable Foundation, the William Buckland Foundation and the JO and JR Wicking Trust,” said Mr Westley.

As part of the arrangement, ANZ Private Bank will now refer clients requiring estate planning and trustee services to Equity Trustees.

The post Equity Trustees to take possession of ANZ’s will bank appeared first on AdviserVoice.

Kate Schell has been appointed as an Adviser in the Private Client team while Amanda Sartor joins as a Senior Relationship Manager in the Charitable Trusts and Philanthropy team.

Commenting on the appointments, Ian Westley, Executive General Manager, TWS said: “Equity Trustees is delighted to welcome Kate and Amanda, who will support the continued growth of our Trustee and Wealth Services business.”

Kate brings more than 22 years’ experience in the financial services industry, with the past 15 years in wealth management. She joins the team servicing Equity Trustees’ private clients, coming from TruWealth, where she has spent four years as a Financial Adviser. Previously, she held positions at Morgan Stanley and E.L. & C. Baillieu Limited and Thornton Group.

Amanda, who will be focused on Equity Trustees’ philanthropy clients, was previously Manager, NFP and Philanthropic Services at Elston Private Wealth, where she was responsible for providing tailored philanthropic advice and NFP investment governance and strategy. She formerly held roles at multi-family office, EWM Group, as well as private wealth firms Affinity Private, Whittle & Skok Financial Services and NAB Private Wealth.

“Kate and Amanda both bring significant experience in building strong relationships, delivering valued advice and servicing the diverse needs of clients, which is the basis for our success,” Mr Westley concluded.

The post Equity Trustees bolsters trustee and wealth team with two new hires appeared first on AdviserVoice.

Marie Brownell

Elder abuse is a horrifying prospect we’ve come to better understand thanks to relentless work by recent media investigations and royal commissions.

No one likes to think they (or someone they love) will ever be a victim in this way but all Australians can take action well before there is a possibility of losing capacity to safeguard against this frightening possibility, according to Equity Trustees.

“Trustee companies were established with the purpose of taking care of people who could not take care of themselves – usually in relation to financial affairs,” said Ian Westley, Executive General Manager of Private Clients at Equity Trustees.

As Australia marks Elder Abuse Awareness Day today, one of the country’s oldest trustee companies which has taken care of generations of families, has urged all Australians to think ahead.

“Over time, being a trustee has come to mean ensuring broader care is in place depending on a client’s needs. We now protect the interests of and support Australians who have lost capacity due to age or injury. Almost always, these plans have been put in place well before they were needed – and sometimes in the hope they never would be,” Mr Westley said.

The problem of elder abuse is of increasing concern as Australia’s population ages. By 2050 just over a fifth of the population is projected to be over 65 and those over 85 will represent 5% of the population^[1]. As a result, more older Australians are falling victim to financial, physical or emotional abuse, neglect or exploitation by dubious service providers purporting to be professional or tradespeople.

“We have direct experience of stepping in to either stop – or claw back – money being scammed from some of our most vulnerable clients by fake tradespeople and involving police in those matters. The financial loss is serious – but worse is the impact it has on the confidence of people – particularly those who have worked hard to maintain independence in their own homes,” he said.

Marie Brownell, National Manager Estate Planning, Equity Trustees explained that some of the planning should include some fairly straightforward estate planning documents including an Enduring Power of Attorney and Appointment of Enduring Guardian.

“Nominating an attorney and guardian who can make legal, financial and lifestyle decisions on your behalf is a key part of this process,” she said.

“While a child may seem like the natural choice, they are not always the right choice – particularly if you don’t always see eye to eye. Your attorney should be someone who you consider to be 100% reliable and trustworthy. This could be a family member or someone outside the family such as a family friend or professional.”

A professional attorney will be on the lookout for any decline in your capacity over time and can watch for any signs of financial abuse, for example by checking your accounts for any changes in spending patterns.

Specialist attorneys, such as the team at Equity Trustees can also help with other services, such as providing regular check ins and organising in-home care services.

Avoid becoming isolated

Elderly people who are isolated not only have limited opportunities to interact with others but are more vulnerable to elder abuse.

“The solution could be as simple as finding a friendly local taxi or Uber driver to provide transport to shops or regular activities,” Ms Brownell said.

“It is also worth getting to know the services and charities in your area that are catered to older people. This could be a social group that offers transport or charities which are focused on tackling isolation in the elderly.”

Look out for warning signs

Being aware of the signs of elder abuse is also important for family members or carers of an older person.

“Someone who is being mistreated may suddenly behave differently, avoid leaving their home or appear quieter or more anxious than usual. There may also be changes in their physical appearance, such as a lack of grooming or unexplained bruises or fractures,” Ms Brownell said.

Financial abuse, where an older person has their funds improperly or illegally accessed, is one of the most common types of elder abuse, so family members should be on the lookout for any financial inconsistencies.

“Look out for irregularities on bank accounts or credit cards, large sums of money or assets being transferred, the person being asked to guarantee loans or mortgages on someone else’s behalf or signs they have taken up a product or service they usually don’t use,” Ms Brownell noted.

Speak up

If you are an older Australian who is unhappy with the care you are receiving, speak up and let a trusted person know the situation.

Friends and family of an elderly person should also be aware that many cases of elder abuse are hidden and go unreported, often due to fear or reprisals or because the abuser is a family member.

“If you suspect abuse is taking place, raise the alarm with a community group, contact a lawyer or, if a criminal act is suspected, get in touch with the police.

“We all have a responsibility to advocate for older people if they are unable or unwilling to speak for themselves. While elder abuse can raise complex social and legal issues, calling it out is essential and shows your loved one that help is at hand,” Ms Brownell concluded.

——-

[1] Australian Institute of Family Studies

The post Protect your loved ones from elder abuse appeared first on AdviserVoice.

Based in Sydney, Tomas Klein, formerly an executive at NAB, is the new General Manager, Business Development in the TWS Private Client division. He is joined by Xavier Craven in the role of Business Development Manager, also in the Sydney office.

“With well-developed understandings of the key aspects of our highly specialised business, including investments, estate planning and philanthropy, and experience in working with clients with a very similar profile to ours, Tomas and Xavier are excellent additions to the team in TWS responsible for key accounts and clients,” said Ian Westley, Executive General Manager, TWS Private Clients.

“Their extensive expertise will support the continued expansion of our national business, with a focus on strengthening and growing our business partnerships in the Sydney market.

“They each come from extensive financial services backgrounds, with formal qualifications in business and finance, and they understand the unique regulatory environment of a trustee company and the importance of our role in managing and protecting the wealth of the individuals, families and organisations we serve,” he said.

Tomas Klein’s experience includes 15 years at NAB, holding leadership roles in business markets and private client segments before moving into roles with regional leadership responsibilities. As General Manager of Business Development in TWS at Equity Trustees, he will lead a small national team and develop strategies to continue to grow the diverse portfolio of private client services and products.

Xavier Craven was previously a partner at Primestock Securities. His experience includes senior adviser positions at Perpetual Private Wealth, Affinity Wealth Services and Australian Financial Counsellors, where he was also a company director.

“We congratulate Tomas and Xavier on their appointments and welcome them to Equity Trustees,” concluded Mr Westley.

The post Boost to Equity Trustees Business Development team with two new appointments appeared first on AdviserVoice.