When taking over legacy assets or monitoring existing portfolios, the ability to properly read investment statements will give significant information to fulfill the duty to monitor. Statements can provide critical information but sometimes the information is not obvious.In addition the information contained on statements is essential for filing income tax returns and court accountings. Knowing how to properly treat complex transactions such as splits, mergers, and spinoffs can save significant time and improve accuracy. Learning how to use data downloads can increase efficiency, reduce time, and reduce costs.
Reading Investment Statements: How To Get Answers To Key Questions
Susan Brooksbank, MBA, MSEE, BSME
Susan Brooksbank is a fiduciary who provides accounting support for attorneys and fiduciaries. She is a retired mechanical/electrical engineer who worked in the vibration test industry for 30 years, with a BS in mechanical engineering, MS in electrical engineering, and an MBA. After retiring from the corporate world, a CLPF acquaintance suggested that Susan help with her accounting, since Susan has a knack for numbers and is a happy camper with spreadsheets. The fiduciary taught Susan the basics of probate accounting and handed her one of the fiduiciary’s most complicated cases. That was about 3 ½ years ago and Susan has been doing accountings since.
Ted Ong and Jeremy Lau, CFA®, CFP® are SEC-Register Investment Advisors (RIAs) with Prudent Investors Network. They specialize in fiduciary planning and investment management for institutional and private fiduciaries. They co-teach the Management of the Investment Portfolio Class in the Trustee Certification Program at California State University at Fullerton (CSUF) and co-authored the white paper, Prudent investing Under the Probate Code, What Judges, Estate Planning Attorneys, Fiduciaries and Trustees should Know. In addition to fiduciary planning and investment management services, Mr. Lau also serves as an expert witness on prudent investing under the California probate codes.