If you’re wondering about the members trust rates and fees associated with their investment products and services. The good news is that you don’t have to spend a fortune to get a great investment experience. Instead, you can choose from various packages to meet your needs.
Charges for extraordinary services
In an estate plan, a client may be charged extra fees for services beyond the scope of the estate plan. Charges for such services are based on the time and labor involved and are subject to court approval. In addition to determining the fee, an attorney may not charge you for services routinely offered.
Costs for ordinary services
Ordinary member trust is a legal entity holding money on behalf of members. The trust’s income is generated from interest. However, since interest rates have been low, a trust’s revenue has declined. Therefore, the fees associated with such a trust are typically deducted from the trust’s principal.
Professional trustees typically charge between 1.0% and 1.5% of the trust’s assets but can charge a lower or higher percentage. This fee is reasonable because the amount of work involved in managing the trust is the same, whether it is small or large. However, trustees should be very clear about the fees they charge to their clients.
Members’ Trust Company of Southwest offers a full suite of trust services. These services are provided by highly trained and licensed professionals. The company is owned by credit unions and is located in Houston, Texas. The company’s office has an estate planning attorney and a team of trust administrative staff. Whether you prefer face-to-face consultations or online, these professionals can meet with you to help you create your trust documents.
Costs for investment products
The Members’ Trust Company of Southwest does not charge customers fees, unlike traditional financial institutions. It is owned by a group of credit unions, which pooled their resources and established this company to provide investment and trust services. The company operates in its members’ best interests, focusing on members’ needs rather than profits.
SECU Trust Services is one of the investment options offered through the Members Trust Company of the Southwest. This service manages trust assets and oversees distributions on behalf of the beneficiaries. The fee is low at 1.00% per year and only requires a minimum balance of $100,000 to be maintained in the account.
The Trustee calculates total investment costs for members in the Default Investment Option. The total investment costs depend on the years until the scheme’s pension age. The Trustee also accounts for the Total Expense Ratio, transaction, and fund transaction costs. However, these figures do not represent guaranteed future returns.
The trustee has to include an illustration showing the effect of costs on the pension account balance of the member. The values reflected in this illustration are based on the average contributions across the SEI Master Trust membership. These figures represent projected account values up to the Scheme Pension Age. The Trustee also calculates projected returns, which are long-term capital market assumptions.