Who we are / Our expertise
After much research and the application of the team’s skills and experience, we have developed a unique, comprehensive system for trust administration and compliance, specifically suited to South African trusts.
The founders, John Assor and Phia van der Spuy, who have been working in the finance industry for many years, identified the need for an innovative digital solution in the fiduciary environment.
The platform was developed in conjunction with the foremost experts to address the specific needs of trust compliance and management in the modern fiduciary world and to bring the necessary tools and functionality required into a single environment. The core focus of the system is to deliver a cost-effective but highly efficient method of managing multiple trusts.
The system is the first in the world to integrate all functions and roles on one platform to achieve compliance and efficiency. Our solution provides measurable improvements in productivity and efficiency, leading to significant cost savings for trust service providers. No other system causes the accounting information to be created as a trust’s compliance and administration are done. It aims to provide a one-stop solution to a trust service provider.
Trusteeze evolved from a B2C model, providing a board of trustees with a tool to self-manage a trust, to a B2B model where we now provide licenses to trust service providers to manage their clients’ trusts.
In line with the focus on remote work since the Covid 19 pandemic, the platform is perfectly positioned to enable seamless digital participation of the entire team.
The platform is uniquely structured to be deployed as a cloud-based software-as-a-service offering that connects to a trust service provider’s database and file-store, which are located in its existing environment and are completely under its control – eliminating the risks traditionally involved with adopting a third-party solution. We do not persist any client data. There is also no software or updates to be installed.
The Trusteeze Platform offers a wide range of connected features, making this a very powerful suite of tools.
The main features of the platform:
- The Trusteeze Platform is built with security and privacy in mind.
- The platform is completely dynamic at its core and can be configured to fit into your organisation’s existing workflow.
- The platform is easily scaled horizontally and vertically.
- Easy onboarding of clients.
- Bulk data migrations are possible via a configurable data-mapping utility.
- Data consistently used across all functionality on the platform – it ensures data quality and avoids finger trouble.
- Built-in CRM functionality that is incorporated into every aspect of the administration system. This includes the ability to create and assign tasks, make notes, and track all email correspondence between members of a trust and the service provider.
- All documents and templates required or utilised by the system are dynamic and configurable by the user, no further development is required when regulatory requirements change.
- Access levels and user roles limit what information or functionality a user has access to.
- Progress/status reports are available to administrative staff in real-time.
- Time-keeping. Built-in timekeeping that can link to tasks, taking applied billing codes into account, together with exportable reports, makes it simple to reconcile into trust service provider’s current billing workflow. It can even be used to manage staff productivity and bottlenecks.
- All interactions on the system are recorded and full audit logging is provided.
- Member profiles. Up-to-date member profiles for all members of the trust allow for the automatic population of trust-related documents.
- Trust Parameters. Trust parameters in accordance with the trust instrument govern the actions of the trustees.
- Automatic generation of a tailored trust instrument through the selection of trust deed parameters.
- Pre-populated resolutions can be generated for any trust action, e.g. purchasing an asset, which can then be submitted for digital signing through DocuSign.
- Automatic generation of documents required for the creation of, or amendment to, the trust is provided through templates.
- Trustee meetings can be set up on the system and held via conference call. These meetings are recorded. The recording is made available for download immediately after the meeting ends.
- Meeting minutes can be captured simultaneously by multiple authors during or after the meeting.
- Accounting. The platform boasts an accounting module that has been developed specifically for the unique requirements around trust accounting in South Africa, in compliance with the latest legislation and standards. Financial statements are prepared in real-time as you interact with the accounting module. The core of the accounting module is the asset register, which is required by legislation. Our system provides an audit trail for each transaction, supported by relevant documentation, should trustees or the administrator ever have to defend any action they took.
- Bank account integration. Statements can be imported automatically (real-time) or manually via CSV upload. These transactions can then be allocated in the accounting module. The system can map any format CSV via a dynamic template creation utility. Auto allocation rules can be created to handle recurring transactions, which reduces the administrative burden on you.
- Asset management. Assets and loans can be captured and their values are automatically imported into the financial statements. Asset depreciation and loan projections are included in the reports.
- Transacting entities/Connected persons. Every transaction reflects the transacting party. Further, the system identifies transactions with connected persons in relation to the trust. This assists with the completion of tax returns.
- Beneficiaries can be managed and distributions created, which are automatically included in the financial statements. Provision is made for minors and guardians, as well as beneficiary classes. Each beneficiary can be configured as a vested or discretionary beneficiary for capital and/or income.
- Document vault. Documents can be uploaded by the trust service provider or other authorised users to the trust’s document vault for viewing and/or downloading from anywhere in the world. Only members of the trust can access those documents, and all documents that are flagged as personal information or of a sensitive nature are accessible to the designated owner only.
- We provide ongoing guidance to trust service providers and will keep the system up to date with relevant legislation changes.
- Consistent reporting of beneficial owners to SARS and the Master of the High Court.
- Electronic signing capability of resolutions.
- Beneficial Owners have the ability to keep their information up to date. As beneficial owners update their information, a task will be created for the administrator linked to the trust to generate and update the report with the Master of the High Court.
- Accountable institutions report.
- Soon to test the IT3(t)'s with SARS.
Our executive team that will guide you every step of the way:
Phia van der Spuy
Founder, Chartered Accountant, Fiduciary Practitioner of South Africa®, Tax Practitioner
B.Comm(Hon) (Industrial Psychology), CA (SA), M.Comm (Local and International Tax)
During Phia’s career of over 25 years, she worked in various positions with some of the largest financial institutions in South Africa, which included various structured finance and property finance roles. She also worked in risk management, property development and private equity positions. She has a strong financial and legal background as well as extensive experience in debt and equity finance, property development, risk management, compliance and in supporting and growing start-up companies. Her strength is a diverse background of understanding and management of financial risk across various sectors. Phia holds memberships with the South African Institute of Chartered Accountants (SAICA), the Fiduciary Institute of South Africa (FISA) and the SA Institute of Tax Professionals (SAIT). Phia writes about trusts and estate planning in various national newspapers on a regular basis to educate and enlighten estate owners. She also published a book called “Demystifying Trusts in South Africa”, to educate all role players in a trust.
Technical, compliance and training lead
Bianca has over 5 years experience in the legal industry with a specific focus on compliance, companies and trusts.
She graduated from university in 2015. After completing her two-year articles and passing the board exams, she was admitted as an attorney. During her career she obtained relevant experience across the legal field including experience in civil and criminal matters, trade marks, aviation, companies, debt reviews, divorces, family law, estates, road accident funds, labour law, trust law, commercial law and compliance. She is currently on the non-practicing attorney’s role.
With her background, she takes responsibility for technical input, compliance and training in the company.
Risk Assessment and Structuring
Registered Financial Planner
John’s has in excess of 20 years experience in financial risk assessment and mitigation. His focus is the correct structuring of estates, with the use of trusts, where relevant. His extensive experience in the utilisation of trusts as part of an estate plan enables him to guide clients through the structuring and implementation of trusts.
John holds memberships with the Financial Planning Institute (FPI).