True or False: In small trust institutions, staff personnel must specialize in areas of investment management, accounts administration, and operations.

In small trust institutions, it is often more beneficial for staff personnel to have a broad range of skills rather than specializing in distinct areas like investment management, accounts administration, and operations. Due to limited resources and smaller teams, personnel typically take on multiple roles and responsibilities that cover various aspects of trust administration and management. This versatility allows for greater operational flexibility and efficiency, as employees can adapt to different needs as they arise and provide comprehensive service in managing trusts.

Furthermore, specialization can be more common in larger institutions with more resources, where staff can focus on specific areas of expertise without the need to cover multiple roles. In contrast, small trust institutions benefit from a more generalized skill set among staff, enabling them to handle a wider array of responsibilities and challenges within a constrained operational framework. Thus, the statement is classified as false.