Problem Solving
Whether it's pullin' trust departments and trust companies out-of-the-proverbial-ditch, shooten'em to get-them-out-of-their-misery or helping them to tiptoe-through-the-tulips by addessing irregularities or redressing breaches, FiPar is equipped with talented strategists armed with problem-solving techniques and reasoned solutions to properly guide trust organizations to success and prosperity.
Crisis & Interim Management
Trust consulting engagements have included extended, hands on assignments franging from a few weeks up to three years--closing, re-engineering, serving either as interim trust manager or as crisis management leader.
Such responsibilities include identifying and resolving business and fiduciary risk, troubleshooting, fraud detection and resolution, redressing and mitigating highly-sensitive fiduciary trust administrative and investment management claims, including providing court testimony defending trust department’s actions and providing litigation support.
Damage Control
This is something no one cares to think or talk about...but, it happens! Probably more than one might expect. And, when it does, it's reassuring to know that someone possesses the expertise and is equipped to take on these types of projects.
They are commonly demanding of time and energy...often for extended periods of time.
Depending on specific circumstances, engagements can be on-site, virtual or a combination of the two.
FiPar has turned shoddy, neglected, poorly-run trust organizations and well-run ones that experienced one-off catastrophes into once-again respected, successful businesses! Some through re-engineering, others by flipping them into boutique, private trust offices or investment firms or closing them down and selling-off trust books of business--which are, incidentially, in high demand and often command high premiums, allowing banks to reallocate valuable resources and substituting their wealth management platform with cutting-edge, risk-averse alternative trust solutions.
FiPar's corporate mission serves to support financial organizations in their efforts to overcome powerful, often seemingly insurmountable barriers to success in the trust business. Our team is trained to overcome obstacles and tackle extreme challenges and create superior outcomes.
Whether it’s putting out fires, pulling trust departments out of the ditch or shooting them to get them out of their misery, it requires highly-skilled, experienced trust professionals that can meticulously defuse often highly-sensitive situations.
Masters at putting out fires!
FiPar possesses exceptional skills and experience in managing crisis and interim management situations resulting from resignations, firings, malfascence, fines and lawsuits as well as addressing organizational and operational deficiencies.
Rebuilding 'em!
Our firm offers what it calls a "Quick & Dirty Risk Assessment" to ascertain an organizations state of condition and offer strategies and methodologies for resolving issues and breaches--and then, if further engaged, works to restore and enhance the organizational and operational infrastructure and/or conducts comprehensive account audits and performs regulatory compliance assessments.
And, reclaiming grandeur and prestige!
FiPar has helped banks tiptoe-through-the-tulips to avoid law suits by redressing breaches, through bank restitution and negotiated settlements. We have testified on behalf of banks and trust companies through depositions and in judges' chambers, probate courts as well as federal and state district courts and before bank regulators, IRS Criminal Division and US Secret Service.
Turnaround Specialist
Reengineer organizational and operational infrastructures--Top to bottom and inside out!
Fraud Detection & Resolution
Specialists in detecting and resolving fradulent scams, including busting a $50 million trust company Ponzi Scheme.
Areas of Expertise
Bank Secrecy Act / Anti-Money Laundering (BSA/AML) Currency Transaction Report (CTR)
Suspicious Activity Report (SAR)
Monetary Instrument Log (MIL)
Know Your Customer (KYC)
Currency and Monetary Instrument Report (CMIR)
Office of Foreign Assets Control (OFAC)
Customer Identification Program (CIP)
Politically Exposed People (PEP)
Additional areas of familiarity and experience include select provisions of:
Gramm-Leach-Bliley Act (GLBA)
USA PATRIOT Act
Volcker Rule
Reg D
Reg O
Reg R
Plus a host of interrelated fraud detection and resolution specialties.
Closures--Trust Departments & Trust Companies
FiPar sells-off books-of-business and shuts-down trust departments as well as offers guideance and support in the sale and dissolution of trust companies, redressing irregularities or breaches as necessary along the way to mitigate any lingering exposure.
Maintain inventory of intereted acquirers of trust departments, trust companies and books-of-business as well as business lines and product lines.