TACT seeks to advance education in trust law and practice through information and instruction. It was founded in 1974 and incorporated and registered as a charity in 2015 to foster a high standard of trustee service and is supported by all the leading trustees in the UK. It carries on the bulk of its work through its operating committees. These gather together the practitioners in each of the major fields – pensions, private and loan capital trusts. TACT is directed by its Council, which consists of the President, Vice President, the Chairman of each of its operating committees and others appointed by the membership. Members commit to observe TACT’s Code of Conduct. The aggregate value of all the financial arrangements which are in the care of TACT’s members is around £1.9 trillion (2015).