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The professional wealth trustee

The professional wealth trustee
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First Published: Mon, Feb 05 2007. 03 14 AM IST
Updated: Mon, Feb 05 2007. 03 14 AM IST
Wealth managers typically advise their clients not just about investments, but on how to plan out their businesses, how to save for retirement, how to write a will passing on their wealth to their children.
DSP Merill Lynch will do that in a more formal way now. Investors with wealth of more than Rs 8 crore can now plan their retirement or their business succession plans with the help of DSP Merill Lynch’s Trust Services. Last week the company announced that DSPML Trust Services, a subsidiary of DSP ML, will offer trust services to its investors.
As a part of this service, the company will create and manage the trust for its clients, help them do estate planning and also administer the wealth in case the client has died intestate. DSP ML will charge a small fee for providing this service, but hasn’t revealed how much that will be. IL&FS Investment Trust is the other company that offers trust services.
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First Published: Mon, Feb 05 2007. 03 14 AM IST