large loss in trust fund - duty of care?

uas109

My mother-in-law has a trust fund which within the last 6 months has lost about £60,000 in capital. Everything was invested in low risk areas, should the high street bank have informed us that we were losing capital?
and to take the money out?

Thanks

Lokolo

Nope not at all. Well I don't think so.

jm28cardiff

Do you get some kind of annual statement? If the thing is not guaranteed, there is no need for them to write to you between the statements.

uas109

ok Thanks
I feel they should as it is a significant drop for low risk.

Thanks again

G_M

should the high street bank have informed us that we were losing capital?
and to take the money out?

What is their role? Trustee? Advisor? Are they paid? If so to do what?

dunstonh

I feel they should as it is a significant drop for low risk.

You havent placed the 60k in context. I have got low risk portfolios on my books that have lost far more than that but in percentage terms are consistent with low risk.

should the high street bank have informed us

How is the bank employed to give such advice? Are they on a retainer to review the portfolio and give ongoing advice? What role have the trustees had in discussions with the investment adviser that they have employed to give advice?