The Challenge for Fiduciaries

Fiduciaries are are subject to an increasing number of fiduciary duties and responsibilities. Arguably, the most important of these fiduciary duties is the duty of loyalty, which requires a fiduciary to act solely in the best interest of the trust and its beneficiaries.  Fiduciaries are also subject to a wide variety of laws, regulations and best practices, intended to promote proper conduct by fiduciaries. Staying current and complying with the myriad of these evolving duties and requirements is difficult and time-consuming. Consequently, trust companies and trust departments are highly susceptible to regulatory criticism for failure to be aware of and comply with regulatory requirements and expectations. If these actions are particularly significant or egregious, they can result in regulatory matters requiring attention and the imposition of fines, penalties and enforcement actions that can damage reputation, limit strategic business opportunities and have significant financial impacts to a noncompliant financial institution. 

  • Our professionals have decades of experience in helping trust companies and trust departments understand and comply with fiduciary laws, regulations and standards.
  • We help our clients stay abreast of evolving legal and regulatory requirements and formulate risk-based policies, procedures, strategies and controls to promote compliance with the same.
  • For those who have not properly fulfilled their fiduciary responsibilities, we formulate and implement formal remediation plans to resolve problematic matters and prevent them from recurring.

In an environment of finite financial resources and limited access to knowledgeable, competent and experienced fiduciary risk management and compliance professionals, our solutions offer fiduciaries efficient and cost-effective alternatives to meet their compliance mandates and achieve their strategic objectives.

Why Choose Kropschot Consulting Partners?

EXPERTISE – Our seasoned fiduciary professionals are knowledgeable, competent and tested. When you work with us, you work with senior level professionals with decades of experience, including former regulators, chief compliance officers and other fiduciary professionals.

CREATIVITY – We are skilled at designing and implementing innovative and effective risk-based strategies to balance the need to be compliant with the need to remain competitive.

AWARENESS – We take time to listen and understand your business and its unique challenges and opportunities, in order to identify and apply optimal solutions to help you meet your strategic objectives.

EFFICIENCY – We are not owned by a large company with overhead and bureaucracy. As a result, we can make decisions locally, adapt quickly and offer you competitive pricing for our services.

3 Generation Family Banking Legacy

Kropschot Consulting Partners Founder and President Jeff Kropschot, a former bank and trust regulator and Chief Compliance Officer, carries on a family banking legacy extending more than 100 years. The Kropschot Consulting Partners team provides expert fiduciary audit, compliance and risk management services to trust companies, trust departments and registered investment advisers.

Kropschot Consulting Partners Mission Statement

Kropschot Consulting Partners works in partnership with banks, trust companies and investment advisers to help them achieve their strategic and tactical objectives, while complying with applicable laws, regulations and industry standards.

Value Proposition

We apply our significant experience and capabilities, developed on both sides of the regulatory table, to help clients recognize their full potential.

  • We provide expertise, built on three generations of banking and regulatory experience, to create a strong foundation for your success.
  • We work in partnership, to help you safely navigate the ups and downs of today’s increasingly complex regulatory environment.
  • We offer solutions, to allow you to successfully execute your business plan, reach your summit and gain perspective.

Our team of experienced professionals includes former regulators, fiduciary risk practitioners, BSA/AML/OFAC Officers and Chief Compliance Officers who understand current and evolving regulatory audit, compliance and risk management expectations. With our vast experience, we can capably address most any need you might have.

Get To Know Us!

The Kropschot Consulting Partners team serves trust companies and trust departments of all sizes and levels of sophistication. 

Take time to meet some of our team members and partners!