Molly Hunter, Associate in Private Wealth Disputes, wrote an article on mental capacity issues for Intelligent Partnership's quarterly update 'Business Relief'.
In the article Molly discusses investments under discretionary management and the revised guidance issued in March of this year from the Office of the Public Guardian.
Molly comments: "Where an investment manager is engaged to manage a client’s investments on a discretionary basis, it is important to consider the arrangements in place in the event that the client loses mental capacity."
"This is especially important if there are circumstances, such as the client’s age, where addressing this issue should be automatic. The loss of a client’s mental capacity is likely to trigger the termination of the investment manager's terms of engagement."
To read the full article, please click here.