Compliance – Discussion of the audit function, formal examinations including the trust rating system and the compliance function.
Estate Planning – Integrated analysis of the estate planning process covering probate avoidance, property ownership, wills, trusts, powers of appointment, estate tax, charitable transfers, and more.
Ethics – Recently added as a prerequisite to the CTFA designation. The unauthorized practice of law, confidentiality, breach of trust, self-dealing issues relating to unfair trading of securities, conflict of interest and the prudent person standard are addressed as core components in all SETS sessions. Topic also can be covered in a separate class.
Fiduciary Law – Analysis of fiduciary principles and the substantive law of trusts. Analysis includes fiduciary powers, duties, and liability as well as regulatory provisions affecting the fiduciary business.
Financial Planning – In-depth analysis of the financial planning process, from data gathering through analysis, implementation, and monitoring.
Investments – Overview of the investment process for equities, fixed income, and real estate. Discussion includes technical analysis, security trading, and key investment concepts (asset allocation, diversification, risk and return).
IRAs – Discussion of Individual Retirement Accounts and their role in financial and estate planning, including required distributions during the lifetime and after the death of the IRA owner as well as owner death before, on or after the required beginning date.
Operations/Management of Specialty Assets – Overview of personal and corporate trust operations, including accounting, insurance, securities processing, and real estate. Includes analysis of asset management, purchases and sales, Regulation 9 and other topics.
Selling/Relationship Management – Overview of trust services and the elements of a successful client relationship and sales effort. Discussion of sales calls as well as the competitive environment.
Taxation – Study of taxation issues in a fiduciary context: estate tax, gift tax, generation skipping tax and special valuation rules. Case study integrates the various concepts.
Trust Administration – Review of the characteristics of trust business. Discussion includes estate administration, the various types of trusts and agency accounts, guardianships, and powers of attorney issues.