Mr. C. is a Certified Financial Planner.  Mr. C.'s father died with Mr. C. (and his sister) appointed as executors and trustees of the estate. The Will instructed Mr. C. to set aside $100,000 to be held in trust for the benefit of his brother, Patrick. Mr. C. transferred the $100,000 intended for Patrick  into a Non-Registered Investment Plan in London Life in his own name, without naming Patrick as a beneficiary.  Mr. C. facilitated a personal loan to himself from the London Life Plan in the amount of $92,642.00, which Mr. C.  subsequently used to purchase a property for his business. The funds were then lost when the property was sold under power of sale. 

What are your thoughts, what rulendid Mr C broke if any?

Answer rating: 100% (QA)

Based on the provided information it appears that Mr C may have breached his fiduciary duty as an ex... View the full answer