Stellar is pleased to be working with law firm Kingsley Napley to assist you in your role as an Attorney or Deputy.

An Introduction to Investing as a Deputy or an Attorney

When a person loses mental capacity to manage their financial affairs, whether through accident or illness, family members or professionals are required to step in and deal with their finances on their behalf. They are supervised by the Office of the Public Guardian (OPG) as either Attorneys, appointed by the person themselves, through a Lasting Power of Attorney or Enduring Power of Attorney or a Deputy for Property and Financial Affairs, appointed by the Court of Protection. Last year, the OPG advised that there are 4.7 million registered power of attorneys and 60,000 Court of Protection appointed Deputies.

The OPG has published guidance and standards which must be complied with when managing the financial affairs of another person. One of the obligations imposed on an Attorney or Deputy is to act in their best interests. Where that person is in possession of significant sums of money their Attorney or Deputy must take appropriate steps to manage those funds, including consideration of investments and tax mitigation.

This can be a complex area, so Kingsley Napley and Stellar Asset Management will work together to assist you in your role as an Attorney or Deputy.

If you would like to know more about how we can support you, please feel free to get in touch at: enquiries@stellar-am.com.

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Investing as a Deputy or an Attorney

Find out more about the services offered by Stellar and Kingsley Napley

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About the Services

Attorney Service

Kingsley Napley will:

  • provide a review service for the Attorney to understand the requirements of the individual
  • advise on OPG obligations and assist with any necessary Court applications for authority to act as required, this may include confirming appropriate investment powers in place
  • introduce Attorney to Stellar to consider investment instruction by requesting investment proposal, directly or via a financial adviser

If selected, Stellar will:

  • provide on-going investment management services
  • formally report to the Attorney on a quarterly basis

Deputy Service – Professional

Kingsley Napley will:

  • act as Professional Deputy, Order of authority includes permission to an investment fund manager on a discretionary basis
  • consider requesting investment proposal from Stellar or via financial adviser

If selected, Stellar will:

  • provide on-going investment management services
  • formally report to the Deputy on a quarterly basis

Deputy Service – Lay

Kingsley Napley will:

  • provide a review service for the Deputy to understand the requirements of the individual
  • advise on Court of Protection obligations and assist with any necessary Court applications for authority to act as appropriate
  • introduce Deputy to Stellar to consider investment instruction, directly or via a financial adviser

If selected, Stellar will:

  • provide on-going investment management services
  • formally report to the Deputy on a quarterly basis

Trusts

  • Kingsley Napley can assist clients in setting up Personal Injury Trusts following receipt of any compensation award in order to ring-fence funds from benefits and care funding means tests. Kingsley Napley may also act as Professional Trustees for such clients
  • Kingsley Napley can provide advice in respect of the Trustees fiduciary duties. Proper management of funds will be essential to ensure funds can meet lifetime care costs
  • If acting as a Professional Trustee, Kingsley Napley may request an investment proposal from Stellar
  • Lay Trustees may also seek advice from Kingsley Napley in order to comply with their duties as Trustees
  • Kingsley Napley may introduce Stellar to Trustees so that they can consider their proposals

If instructed, Stellar will:

  • formally report to any Trustee on a quarterly basis

Frequently Asked Questions

  • Attorneys appointed under a Lasting Power of Attorney (LPA) for property and affairs; and 
  • Deputies appointed by the Court of Protection to manage the property and affairs of someone who lacks mental capacity to make decision.
  • The Attorney or Deputy cannot do whatever they like with the person’s money; 
  • They must support the person to make decisions themselves where possible;
  • Any investment decision must be made on what is now in the person’s best interests, whilst balancing their wishes; and
  • Decisions should be based on the person’s preferences and beliefs.
  • When the Attorney or Deputy does not feel they have the relevant experience or knowledge; 
  • It is necessary to show that advice has been taken (this may be a requirement of the Court of Protection or OPG); 
  • Diversification or review of investments is required; and 
  • Specialist advice is required.
  • That the person has been involved in the decision as far as possible;
  • That the adviser is aware that the Attorney or Deputy is acting on behalf of another;
  • The risk is assessed with the adviser based on the person’s circumstances;
  • The cost of the advice is an appropriate use of the funds;
  • They fully understand the products that have been recommended;
  • The current and future circumstances of the person have been taken into account;
  • Decisions must not be delegated to an investment fund manager without permission within the LPA or Court Order;
  • They must not benefit from their position; 
  • Decisions are made based on the person’s best interests, not the Attorney’s or Deputy’s own.

Enquiry Form

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Important Information

Stellar Asset Management

Stellar Asset Management Limited does not offer investment or tax advice or make recommendations regarding investments. Prospective investors should ensure that they read any product literature and fully understand the risk factors before making any investment decision. This document is dated September 2021 and is exempt from section 21 of the Financial Services and Markets Act 2000 and is not required to be and has not been approved for the purposes of the section because it is only being communicated to selected Investment Professionals (as defined under article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005). If this document is forwarded to any other person, you must ensure that you have taken responsibility for the document under the financial promotions rules and identified yourself as the issuer.

Kingsley Napley

Kingsley Napley LLP is authorised and regulated by the Solicitors Regulation Authority, registration number 500046. This document has been drafted and provided by Kingsley Napley LLP. This document should be used for information purposes only. This information is based on current legislation and should not be relied on as an exhaustive explanation of the law or the legal issues involved without seeking legal advice.