We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

The MSE Forum Team would like to wish you all a Merry Christmas. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!

Trust acc need financial advisor referral cater allen

I'm with skipton as it was recommended for my trust account. I'm seeing issues already. My trust was for personal injury and said trustees could invest in property assets and the income from those assets could be in my trust.
Skipton won't let me buy anything WITHIN the trust. I can transfer money to a personal account but it wud affect my benefits. I can't pay a 3rd party and because money needs to be transferred into my son's account I'm worried about tax etc. 
Looking at buying a house and it needs to be inside the trust. 
Oh also staff had no idea so they referred me to their specialist team of trust advisors online. 
So I rang head office and they said I Couldnt speak to them ha ha. Can I make an appointment to speak to one? No apparently they don't speak to anyone...
So... I need to switch... I was told cater Allen but I need a referral. I already invested £150,000 with skipton financial advisor but they can't refer me.
So I'm stuck but need to switch ASAP... 
What do I do?
I do have a Santander account I never use 😂 but I don't know how to get a referral only from a trusted advisor?
Help... Please 🥺

Comments

  • northwalesd
    northwalesd Posts: 1,356 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I'm trustee on an account that's just been set up for my brother's personal injury award, that's with Cater Allen but he went through a solicitor to get that set up.
  • xylophone
    xylophone Posts: 45,853 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    If the Trustees had a Trust current account (Metro offer one), they could transfer money to it from the Trust savings account with Skipton?

    Presumably they could then buy a property as Trustees and the rental income could be paid to the Trust current account for transfer to the savings account (or to the personal account of the beneficiary) as required?

    The Trustees should take professional advice.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.9K Banking & Borrowing
  • 253.9K Reduce Debt & Boost Income
  • 454.7K Spending & Discounts
  • 246K Work, Benefits & Business
  • 602.1K Mortgages, Homes & Bills
  • 177.8K Life & Family
  • 259.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.