While every Trustee company is held to a high fiduciary responsibility, Prudential Trustees,
Ltd., subjects itself to a more rigorous standard. While Trustee companies are required to
demonstrate that they have acted in a protective and correct manner with regard to the holding,
management and transfer of funds, Prudential Trustees, Ltd. voluntarily complies with the
protocols used by the world's top banks.
Where Prudential Trustees, Ltd. holds funds for the benefit of a client, and those funds need
to be transferred from one account to another, the process calls for the client (or the client's
authorized designee) to provide a written authorization and consent to the Trustee (Prudential
Trustees, Ltd.) by secure fax or email. Where authorizations are received prior to noon (New
York/Nassau time) on a banking business day, the client can expect the funds to be wire
transferred that same business day. Where the authorization/consent is received after noon,
the client can expect the funds to be wire transferred on the following bank business day.
At the end of each business day, Prudential Trustees, Ltd. reconciles all of its client
accounts and balances all accounts to the penny. While it is possible for an incorrect entry
to be made in any environment where humans work, our system is designed to catch any such error
promptly and to correct the error prior to the beginning of the next business day. In this
manner, we deliver on our promise to provide the most secure trustee and management services
of any organization in any tax-haven jurisdiction in the world.
In certain cases, Prudential Trustees, Ltd. may be called upon to be the nominal account
holder for a brokerage or other investment account. The client may be appointed as the
Investment Advisor with the power to make trades online. Where this is the case, the client
will assume the risk and responsibility for the diminution of any such investment account,
but Prudential will continue to track the account and to make contributions to and disbursements
from the account in accord with the instructions of the beneficial client.
Prudential handles various types of financial accounts. "Financial Accounts" can include
bank accounts in class "A" commercial banks, accounts in Class "B" private banks, accounts
with credit card companies, debit card companies, brokerage accounts and internal accounts
within law firm trust accounts or trustee company accounts. Procedures in place assure that
no client's assets are placed at risk because they are on deposit in the same institutions as
the assets of other clients.
Prudential carries insurance against the loss of any client funds in the amount of $5
million with respect to each client. Compare that to the $100,000 FDIC insurance program in
place at most U.S. banks and the $100,000 FSLIC insurance program in place in Savings and Loan
Associations in the U.S. While the U.S. struggled through the S & L crisis some years ago, and
depositors watched as Savings & Loan Associations by the score and more than a few banks,
fail and close, Prudential remained strong. No Prudential client has ever lost a single
penny.