Advisor as Trustee on Client Accounts

What issues would be involved with an advisor serving as a trustee for a client's account at the client's request (specifically, a client with whom they do not have a close personal or family connection)?

Obviously, the advisor would be deemed to have custody over those assets and would be subject to the requirements of the Custody Rule. However, I am curious if anyone is aware of any other potential issues involved in this scenario? Assuming that we will be complying with all Custody Rule requirements, would you have any recommendations for or against this arrangement?

Additionally, if there are no other issues with the advisor serving as trustee, should the company (eg ABC Capital Management) or the individual advisor be named as trustee? Would either make a difference with regard to possible liability protection?

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