20: Directed vs Discretionary ESOP Trustees


In this week's episode of the ESOP podcast, recorded on Groundhog Day, February 2nd, 2018, Capital Trustee's partners Bret Keisling and Rich Heeter outdo fellow Pennsylvania native Punxsutawney Phil and Rich predicts the winner of Super Bowl LII.  Also, as predicted on previous podcasts, they discuss the differences between directed and discretionary ESOP trustees. Other topics include how to qualify an independent valuation advisor, hiring an external trustee, and how the valuation process and other matters are handled by an external trustee.


Key takeaway: A trustee’s responsibilities and processes should be identical regardless of whether you are internal or external. A fiduciary is a fiduciary is a fiduciary!


Listen to this episode on Soundcloud.