Trust Examiner School eBook

Internal Use Only

Broker Relationships • Soft-dollar relationships:

• Use of client’s brokerage commissions to obtain research or brokerage service • “Safe harbor” • May be appropriate if documented and: • Determined in good faith that the commission amount is reasonable • Accurate & complete disclosure of this practice to interested parties

Internal Use Only

Broker Relationships

• Discount brokerage service or a brokered certificate of deposit • Complete & accurate disclosure •ERISA prohibition • Use of an affiliate’s brokerage service is also a conflict of interest & same procedures should be followed