Our team of qualified independent financial advisors will deal with all of the details, guaranteeing a simple and stress free experience. And, best of all, our solutions are the most transparent and cost effective you will find on the market: all our fees are upfront from day one. Trustee accounts can seem daunting, but we thrive on the challenge of making them as accessible as possible for our clients.
What is a Trustee Bank Account?
A Trustee Bank Account is basically a way to control assets on behalf of a third party. One really clear example is setting up a Trust Fund for a child: the assets are deposited in a Trustee Bank Account, and the person named as Trustee is then responsible for managing the money until the child reaches an agreed-upon age. In this example, the child is what’s known as a beneficiary – the person who benefits from the Trust (through investment returns, investment earned, etc.). The Trustee (or Trustees, because there can be more than one) is the person (or persons) who manages the Trust in order to create those benefits for its owner.
How Simpson Financial Services can help you
The Trust Fund world can be a complicated place if you don’t have the right people helping you out. At Simpson Financial Services, we support you every step of the way, explaining what you need to do in simple terms, and dealing with banks and building societies ourselves, so you don’t have to spend all your time searching for the option that’s right for you.
Best of all, our pricing is completely transparent, and starts from as little as £449.
We’ll lead you through a four-step journey:
- Phone consultation
- Transfer of documents
- The advisory process
- Application
See what our clients think
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Following the death of our Mother, my Brother and I found ourselves to be the named Trustees of a Will Trust. We were advised by our Late Mother’s Solicitor as to what being a Trustee entailed and found the thought quite daunting.
We tried a couple of telephone calls with potential “experts” (financial adviser/accountant) and approached many of the high street banks and building societies ourselves, all without success and we wondered what to do next! Then we found Lisa Simpson! After reading testimonials on the website (Simpson Financial Services), I made contact with the company and received a call back from Lisa the same day. From that first telephone conversation, I felt such a sense of relief and knew Lisa would be able to help us.
LP - Jan 2022
Firstly I wanted to thank you for all your help along the way with setting up these accounts. What I thought would be a nightmare turned into quite the opposite- because of you. You were clear about what was required from us with regards to the supporting documentation for our applications. The systems you have in place to support the collecting and collating of these documents made it easy for us. Finally - you were a joy to deal with, talking me through the process without using the usual brain fogging jargon, and I appreciated your instant understanding of my situation and the requirements for the accounts. I would have no hesitation in using your company again or recommending you to anyone who needs this type of service.
DT - June 2023
I needed to open a discretionary Trustee Account in accordance with my uncles will. I never dreamt how difficult this could be. Contacted every high street bank I could think of and a few building societies with no luck at all.
Finally a friend told me about Lisa at Simpson Financial Services. Oh what joy she was wonderful, found me a bank account advised me what paperwork was required, filled out the application for me.
Bank account opened and operating in no time and all done via the internet. Absolutely brilliant service, I really cannot thank her enough she really was my saviour. Thank you Lisa
SJ - Feb 2021
"Everything already said in previous testimonials we can agree with and appreciate fully. We approached our own bank and had no joy or help with opening a trustee account. We had also approached a specialist bank ourselves but they wanted a substantial initial deposit just to open such an account.
We found Simpson FS on an internet search and at what was already a difficult time, Lisa took the reins and dealt with everything and sourced just the right account for us with a nil opening balance.
JF - July 2017
Lisa Simpson was very helpful and transparent in explaining the procedure and costs of setting up a Trust Bank Account. After weeks of frustration when I couldn't find a bank which would allow me to open a Trust Account directly I was very relieved to find that through Lisa the procedure was simple and executed in a very timely manner.
Thank you
LS - April 2023
Many thanks for all your help over the last few months setting up funds from both my mother’s and sister’s estates. I wouldn’t have known where to even start with such a complicated set up for trust accounts. We finally got there! I would certainly recommend your services to others in the future
CS - Jan 2020
“I contacted Simpson Financial services via an internet search when I wanted advice about setting up a bank account specifically to manage a Life Interest Trust Fund. I had found out that just popping into the local bank and setting this up was no longer an option; as I was to learn, this is an area that requires careful thought and planning and, it seems, the local High street names are no longer interested.
Fullerton - 2016
I can confirm that I was impressed by the service provided by Lisa. Dealing with Simpson Financial Services meant that we had access to providers who were not currently dealing with the general public so that sourcing a trust account provider was greatly simplified. Lisa was helpful throughout, dealing with questions promptly, ensuring that we had provided all the necessary information and progress chasing with the provider to get the account set up in the shortest time possible.
PB - June 2023
Contacting Lisa to help me with opening trust accounts for my children was, by far, the best decision I made. The process was not straightforward, due to the funds being held in Australia, but Lisa was so knowledgeable, professional and helpful that she made it so much easier for me.
From our first conversation I felt reassured that Lisa would be able to help us, as I was almost at a point of giving up after trying to set the trust accounts up on my own. Lisa kept me well informed at all times and went through all the best options with me. We can’t thank Lisa enough for her help and support.
NT - Oct 2020
‘After a long and drawn out probate period, the solicitors informed us that funds from my late Uncle’s estate could be released into a Trust. We just needed to set up a Trustee account. Simple, right?
I couldn’t have been more wrong. None of the high street banks seem to do them anymore and weren’t very helpful when I contacted customer services. It quickly became apparent that this would be yet another long winded hurdle to get over.
AL – December 2018
Lisa Simpson and team at Trust Accounts are in another league of exceptional professionals. They managed the process from the outset, understood my needs, clear instructions of information requests and excellent end product. You would regret going elsewhere.
EG - Jan 2022
As a historic Executor for my late Aunts Will I was desperate to put the retained estate into a Will Trust Fund . I found little help. The Solicitor handling the Estate declined to help because of the time involved. The Building Society holding my Aunt’s Account did not provide Trust Accounts.
My own Bank did have Trust Accounts but the paperwork given to me appeared unnecessarily complex and with 9 beneficiaries with an interest in the Estate ,scattered throughout the United Kingdom , the amount of work appeared insurmountable. In extremis I found Simpson Financial Services Ltd on the internet and thankfully ‘hit the Jackpot’. Lisa
Simpson , The Trust Specialist , with her easy friendly efficient manner guided me through the process effortlessly, in spite of Covid restrictions , to bring the whole matter to a successful conclusion. I cannot thank Lisa enough for her help and advice.
AH - March 2021
I know from experience how difficult and complicated it is for a layperson to deal with Trust matters, so my heart sank when I was called on to set up another Trust account. In desperation I turned to the Web, stumbled upon Simpsons Financial Services and contacted Lisa. She was extremely helpful, engaging immediately with my particular problem, and helped me to resolve it quickly and simply.
I doubt I could have found such a satisfactory solution on my own. Lisa was friendly, approachable and efficient; I would certainly ask for her help again in the future, should I need it. I recommend her without reservation.
NO - Jan 2021
After extensive research into setting up a Bare Trust for my children, I found Simpson Financial Services who offered the only practical solution to opening a bank account for the trust. Even the solicitors I contacted were clueless and had given up trying to open accounts for their clients! Lisa made the process very straightforward and once the required paperwork had been supplied the account was opened very quickly.
I cannot recommend her services more highly. Thank you!
BD - Aug 2019
Thank you so much for all your help in setting up the trusts as I have previously said life would be so much easier if everyone was like you. You have both been a pleasure to deal with, friendly, professional, proactive and have done absolutely everything you said you would in the times that you said you would.
KP - April 2019
"I am one of 3 Trustees named in a Will and we had no success approaching local banks/building societies for an account that would allow 3 names on the account, or that would allow the size of deposit involved in this case.
I found Simpsons Trustee Accounts service via an internet search and spoke to Lisa, who explained the service offered, fee and timescales. I am pleased to say that Simpsons were very efficient, communicated promptly and clearly, made the rather complex account application form filling relatively easy, and that we now have an account that seems to satisfy our needs.
GC - May 2017
As executors of my late father’s will my step sister and I were charged with setting up a family trust for a moderate lump sum. We were very unclear on how to go about the task and worried by the legal implications. Luckily an internet search turned up SFS. I was delighted with the sound advice and clarity provided by Lisa.
The one-off service to source and open a suitable account offered good value for money and put our minds at rest. A very professional yet friendly service, all done via phone, email and post within a month, with no ongoing management fees. Thoroughly recommend.
JN - Sept 2019
Thank you for all your help setting up the account. You have been very responsive, efficient and clear and altogether a pleasure to deal with.
AW - May 2021
I just wanted to say what a pleasure it has been working with you. Thanks for all your help.
PS - July 2021
After going around in circles for months trying to open a trust account I stumbled upon Lisa Simpson at Trustee Accounts via a desperate Google search. And thank goodness I did! From the time I contacted her she always responded very quickly and was generous with her time and advice. She coordinated the opening of two accounts for us in the end and took away a huge amount of stress. I don’t hesitate to recommend her.