Directed trusts and directed trustees have relatively new statutory authority in Tennessee. As a directed trustee, Equitable Trust administers and oversees all administrative aspects of a trust but does not manage the assets of the trust. Asset management is provided by a third party selected by the grantor of the trust, a trust advisor or as otherwise provided in the trust structure. This arrangement is ideal when an individual or family has enjoyed a long, rewarding relationship with an investment manager but still needs an independent, qualified trustee. Directed trustee fees can be expected to be lower than full service trustee fees since a separate asset manager will be responsible for management of the trust’s assets.