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Advice for New Fiduciaries From Those Who Have Been in Your Shoes

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What do you wish you knew when you started your fiduciary practice?


That is the question we asked experienced fiduciaries and professional trustees to answer during an annual fiduciary conference. We know how challenging it can be to start a new business, and we wanted to gather knowledge from their decades of experience to share with those entering the field. 

Here’s some of the great advice they shared with us: 

Embrace a beginner’s mindset 

"There are so many facets to being a fiduciary. You study topics like trust administration and caregiving, but there is unending complexity and always more to learn." - Barbara Hendricks, Henricks Fiduciary Services

It’s ok to say ‘I don’t know’

"You're always learning. Never assume anything. It's always okay to tell a client  "Let me think about it or research it. I'll get back to you." - Pam LoCoco, Pam LoCoco Fiduciary Services

Network, network, network

"There is so much to learn from others. I suggest networking with estate planning attorneys, CPAs, financial advisors and other fiduciaries to get the education you need.” - Jerrilynn Myers, Myers Financial Group
"I always suggest that fiduciaries tell people what you do. You'll be amazed who you find that needs your services." - Al Chowdhury, Private Fiduciary

Be thoughtful (and patient) about growing your practice

"Be discerning about what business you want to take on. It's okay to say "no" if a case isn't the right fit. It's a long-term commitment to work with a client." - Pablo O’Brien, South Laurel Group

Remember why you chose this work 

"I have worked in a lot of different industries, but this one has been the most rewarding because I see that I am making a real impact on the quality of life for others." - Patricia Atwood, SAFE Planners

At True Link, we’re proud to work with expert fiduciaries like these who provide essential services to those who need them most. If you’re a new fiduciary building out your practice, let us know what we can do to support you.

Click here to learn more about our spending tools, recordkeeping solutions, and investment management services*.

Investment Management Services are provided through True Link Financial Advisors, LLC, (the “Adviser”) an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”) and wholly-owned subsidiary of True Link Financial, Inc. (“True Link Financial” and, together with the Adviser, “True Link”) Registration with the SEC does not imply a certain level of skill or training nor does it constitute an endorsement of the advisory firm by the SEC. 

True Link Financial, Inc. provides the trust administration software and record-keeping platform as well as the True Link Visa Prepaid Card and associated software platform.

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