Updated Thursday, April 17, 2014 as of 5:36 AM ET
Practice - Regulatory/Compliance
When Clients Make Questionable Decisions
Thursday, December 1, 2011

An elderly couple, who are clients of one of our investment advisors, want to name him in their wills as the trustee of a trust for their child. If we switch the clients to one of our other representatives, would it be permissible for the original advisor to serve as trustee and would this mean we didn't have custody?

M.T., Atlanta

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