Professional Corporate Sole Trusteeship is more commonly abbreviated to ‘PCST’ or referred to as ‘Sole Trusteeship’.
Whichever terminology you use, in these appointments full trustee responsibility will switch from a Trustee Board to a team of Capital Cranfield Professional Trustees.
The trend towards Sole Trusteeship is now well established for a variety of reasons including:
- Difficulty recruiting trustees
- Increased time and cost efficiency
- Working towards an insured transaction
- Shortcomings in the existing Trustee Board.
Historically, PCST appointments were invariably to smaller schemes. That trend continues, but we are also increasingly working with very large schemes in this capacity.
We bring the most Sole Trustee experience in the market. We employ a team approach to ensure all decisions are subject to peer review and internal challenge as well as delivering continuity of service. Clients can expect a smooth transition to Sole Trusteeship, regular engagement and faster decision making.
While complying with our robust internal governance framework, how we work with clients on a day-to-day basis depends on client needs and preferences, we do not impose ‘our way’, preferring a genuine partnership approach.