From Comment

Of Trust And Trusts

Some 100 years ago J.P. Morgan, the renowned banker, was questioned by a congressional committee in the United States of America about the workings of New York’s Wall Street (I am of the opinion that even today they continue to remain a mystery for many of us). To the question of whether commercial credit should first and foremost be based on money or property he, apparently, replied: “No Sir: first thing is character”. On that issue we read and hear constantly more about trusts (often the crown jewel of succession planning) than we do about having trust in others, however it is an inextricable essential when creating a trust, or indeed for any business endeavour whether or not it involves the financial services industry.

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