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.
Monitoring the Financial Vitals as a Fiduciary: Best Practices for Risk Management & Accounting
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.
Jeremy L. Lau serves as President and Chief Investment Officer. He teaches the Investment Management course for California State University, Fullerton’s Trustee Certification Program and frequently speaks on fiduciary investing to attorneys and fiduciaries across various associations. Before joining Prudent Investors, he worked as an Executive Director in investment banking in Tokyo and Hong Kong for Deutsche Bank AG and UBS AG in structured credit and convertible bonds. He graduated in Accounting (with Honors distinction) from Brigham Young University and has earned the right to use the Chartered Financial Analyst (CFA®) and Certified Financial Planner (CFP®) designations.