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Preferred Branch

Mason City (641)423-1600 Change Location

Your Preferred Branch

Mason City Change Location

2601 4th Street SW
Mason City, IA 50401

Tel. (641)423-1600

Hours
Monday-Thursday: 9:00am - 4:00pm
Friday: 9:00am - 5:00pm
Sat: 9:00am - 12:00pm
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  • Charles City Branch
    300 North Main Street
    Charles City, IA 50616

  • Clarion Branch
    315 Central Avenue East
    Clarion, IA 50525

  • Kanawha Branch
    220 North Main Street
    Kanawha, IA 50447

  • Mason City State Street Branch
    33 East State Street
    Mason City, IA 50401

  • Mason City West Branch
    2601 4th Street SW
    Mason City, IA 50401

  • Mora Branch
    730 Forest Ave East
    Mora, MN 55051

  • New Hampton Branch
    124 West Main Street
    New Hampton, IA 50659

  • Osage Branch
    501 Main Street
    Osage, IA 50461

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Home Wealth Management Fiduciary Services

Fiduciary Services

 

 Fiduciary Services

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Our Fiduciary Team

As a Corporate Fiduciary, we offer traditional trust services through fiduciary powers regulated by the Iowa Division of Banking and Federal Reserve.  A fiduciary owes a duty of loyalty and prudence to beneficiaries and is required to act in good faith and in the beneficiaries’ best interest in carrying out your intent.    

Here are a few essential qualities to consider in naming a fiduciary: 

Trustworthiness

You need to have complete confidence in your fiduciaries’ commitment to putting your interests, and those of your beneficiaries, ahead of their own. As a Corporate fiduciary, we have internal and external oversight ensuring our actions are consistent with the law and regulations. 

Competence and Experience

Your Trustees, Executors and agent for financial decisions all must have a solid financial knowledge, money management skills and a strong understanding of their fiduciary duties.  With ever changing rules and regulation, it is critical they understand their role and are experienced in carrying our responsibilities.

Availability

You should name someone who has the time to dedicate to the work that needs to be done; from discussions with investment managers to responding to beneficiary requests and tracking down property interests.

Delegation

Look for someone who possesses the most important skill of every successful manager: an ability to identify and surround themselves with the right advisors (attorneys, CPAs, financial experts) to handle what needs to be done.

Frequently Asked Questions

A fiduciary owes a duty of loyalty and prudence to beneficiaries and is required to act in good faith and in the beneficiaries’ best interest in carrying out your intent.  

What is a fiduciary?

Traditionally, Corporate Trustees aka Corporate Fiduciaries were often thought of as a last resort—when there weren’t family members or trusted individuals around to act, or conflicts required a neutral party. In reality, we are often chosen to act is even when competent individuals are available. This is because of the expertise, know-how, unbiased objectivity and professionalism we bring to the table from handling hundreds of different trusts and estates over the years.    

What are Corporate Fiduciaries?

While Corporate Fiduciaries are often perceived as an expensive option, it’s important to remember that individuals are also entitled to compensation when acting as a fiduciary. Since individuals typically do not have the same level of experience and oversight, it’s often the individual who ends up being the more expensive option. In addition, if we are already managing your investments, there’s typically no or minimal additional cost when we serve as Trustee over those assets. And when we settle an estate or trust, our settlement fees typically will include any investment management we need to perform during that process.   

Can an individual act as a fiduciary?


We believe we have an incredibly strong team of Trust Officers and support allowing us to provide our clients peace of mind that their legacy will live on for generations to come. 


Contact Us |  641-422-1600 wealth@myfcb.bank
 

Products provided by First Citizens Wealth Management are not FDIC insured, are not deposits of the bank and are not guaranteed by this institution; and, are subject to investment risks, including possible loss of principal invested. Please note that neither First Citizens Bank nor the First Citizens Wealth Management Department provide tax or legal advice. You should always consult an attorney along with a tax professional to determine how to prepare the best estate plan for your situation.

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