DOCSLIB.ORG

Collective Investment Fund Services

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Collective Investment Fund Services Collective Investment Fund Services A collective investment fund (CIF) is a tax-exempt, pooled investment vehicle administered by banks and trust companies and authorized by the Office of the Comptroller of the Currency. While CIFs are similar to mutual funds in that they’re comprised of pooled assets invested with a specific philosophy and strategy, there are several factors that differentiate them from mutual funds: • A simpler structure • Exemption from the Investment Company Act of 1940 • Lower operating costs Advantages The Experts CIFs consist solely of assets that are exempt from At Hand Benefits & Trust (HBT), our collective trust, the federal income tax and are available to Qualified Hand Composite Employee Benefit Trust, was 401(k), Profit Sharing, Stock Bonus and Pension established in May of 1964. Today 25 sub-advisors Plans along with 401(a) Government and 457(b) manage over 60 strategies (including various equity, Government plans. The best features of a CIF are: fixed income, alternative, asset allocation, and target date strategies) within the trust. HBT was a founding • Lower start-up and offering costs since they are only sold through IRC 401 (a) qualified trust company member of the NSCC back in 1997 and retirement plans. currently communicates the daily net asset values for • Not subject to SEC rules thus have lower over 340 CUSIPs to the NSCC for daily trading within compliance costs (CIFs are exempt from SEC defined contribution and defined benefit plans. Our registration under both the Securities Act of collective funds are available on 34 trading platforms 1933 and the Investment Company Act of 1940). required by retirement plans and third party 401(k) • Not sold directly to the retail public. administrators including: STN, BMO Harris, Charles • Maintained as a tax-qualified retirement savings Schwab Trust Company, Broadridge (Matrix), TD vehicle; asset flows tend to be less volatile and Ameritrade, Fidelity, Merrill Lynch, Nationwide, there is no need to manage the investment to Reliance Trust Company, Wilmington Trust Company, minimize tax implications for investors. Benefit Plan Administrators, Wells Fargo Bank, • Daily valued and NSCC tradable. Ascensus, SEI Private Trust Company, Empower, and • No minimum deposit requirements. Principal, to name a few. These links are critical to • Recordkeeper friendly; dividends & capital gains grow assets within CIFs. We have service agreements are not distributed. in place with each of these platforms and have built • Traded on multiple platform providers. custom interfaces to facilitate the trading of CIFs. • Advisors can get paid from CIFs like many other 401(k) investments, i.e., service fees built into many share classes of CIFs look like the same kind of fees built into many mutual funds. We’re the CIF experts you can trust. Collective Investment Funds We administer Collective Investment Funds available for trading through NSCC and major trading platforms. Below is a list of fund advisors and their respective fund offerings. Visit https://www.bpas.com/employers/services/hbt/ for fact sheets. Hand Benefits & Trust Company Trademark Capital Management, Inc. Western Asset Management Company • HB&T Short Term Income Fund • Target Retirement Funds • Western Asset Core Bond CIF • HB&T Fixed Income Fund • Western Asset Core Plus Bond CIF • HB&T Large Cap 500 Index Fund Horizon Investments, LLC • Western Asset Income CIF • HB&T MetLife Stable Value Fund • Horizon Conservative Plus with Risk • Western Asset Long Duration Credit • MetLife Stable Value 32956 Fund Assist Fund CIF • Tactical Core Stable Value Fund • Horizon Conservative with Risk Assist • MIZAN All Equity Moderate Fund Todd Asset Management, LLC Allocation Fund • Horizon Moderate with Risk • Todd International Intrinsic Value Assist Fund Collective Fund HB&T/ETF Risk Based Strategy • Horizon Focused with Risk Assist Fund • Vanguard 100% Fixed Income • Horizon Growth with Risk Assist Fund Disciplined Growth Investors Mgd Trust • The DGI Growth Fund • Vanguard 20/80 Conservative Hamilton Capital Management, Inc. Mgd Trust • Hamilton Capital Dynamic Equity Fund AFL-CIO Housing Investment Trust • Vanguard 40/60 Moderate Mgd Trust • AFL-CIO Housing Investment Trust • Vanguard 60/40 Mod Aggressive Royce & Associates, LLC DVF Mgd Trust • Royce Total Return Collective Fund • Vanguard 70/30 Mod Aggressive • Royce Opportunity Collective Fund Beaumont Capital Management Growth Mgd Trust • BCM DynamicBelay Target Date Funds • Vanguard 80/20 Aggressive Goodwin Capital Advisers, Inc. • BCM Decathlon Growth Tactics CIF Mgd Trust • Conning-Goodwin Capital Core Plus • BCM U.S. Sector Rotation CIF • Vanguard 100% Equity Mgd Trust Bond CIF Snyder Capital Management, L.P. HB&T ClariVest Asset Management LLC • Snyder Capital Small/Mid-Cap Value • FACETS Target Retirement Funds • ClariVest Emerging Markets Collective Investment Fund • FACETS Lifestyle Funds Equity Collective Fund DSM Capital Partners, LLC HB&T/Target Date Solutions/PPCA, Sage Advisory Services, Ltd. Co. • DSM U.S. Large Cap Growth CIF Inc. • Sage Target Date Fund Series • SMART Funds® Index Target Date • Sage Risk Based Fund Series Vulcan Value Partners, LLC Funds • Sage Cash Balance Fund Series • Vulcan Value Partners Large Cap CIF First Trust Advisors, L.P. Legg Mason Capital Management LLC ULLICO Investment Advisors, Inc. • All Equity Allocation Portfolio • Ullico J for Jobs Collective • Target Date Funds Brandywine Global Investment Investment Fund Management, LLC ABG, Consultants, LLC • Brandywine Global Investment Channing Capital Management, LLC • ABG Risk Based Funds Grade Income CIF • Channing SMID-Cap Intrinsic Value CIF Decatur Capital Management, Inc. ClearBridge Investments, LLC • Decatur U.S. ESG Enhanced Equity • ClearBridge Value Equity CIF River and Mercantile LLC CIF • ClearBridge Aggressive Growth CIF • River and Mercantile Long Credit • ClearBridge Small Cap CIF Fund Merganser Capital Management, Inc. • ClearBridge Large Cap Growth CIF • River and Mercantile Return • Merganser Short Term Bond Seeking Fund Institutional Trust QS Investors, LLC • International High Alpha • Merganser Core Bond Institutional • QS Investors Global DBI CIF • Emerging Markets Core Trust • QS U.S. Small Capitalization Equity • Emerging Markets Opportunities CIF GlobeFlex Capital, L.P. • GlobeFlex ACWI ex- U.S. Equity CIF Let’s talk CIFs: P 713-744-3826 Suffolk Capital Management, LLC • Suffolk Large Cap Growth [email protected] .
Load more

Recommended publications
  • Superfund Managed Futures Strategy Fund
    SUPERFUND MANAGED FUTURES STRATEGY FUND A Series of Two Roads Shared Trust Fund Class A Class C Class I Superfund Managed Futures Strategy Fund SUPRX SUPFX SUPIX STATEMENT OF ADDITIONAL INFORMATION Dated June 5, 2013 This Statement of Additional Information (“SAI”) is not a prospectus and should be read in conjunction with the prospectus of the Superfund Managed Futures Strategy Fund (the “Fund”) dated June 5, 2013, copies of which may be obtained without charge by contacting the Fund’s Transfer Agent, Gemini Fund Services, LLC, 17605 Wright Street, Suite 2, Omaha, Nebraska 68130 or by calling 1-855-61-SUPER (1-855-617-8737). You may also obtain the prospectus for the Fund by visiting the Fund’s website: Superfund Managed Futures Strategy Fund www.SuperfundUS.com TABLE OF CONTENTS THE FUND 1 TYPES OF INVESTMENTS, STRATEGIES AND RELATED RISKS 1 INVESTMENT RESTRICTIONS 24 POLICIES AND PROCEDURES FOR DISCLOSURE OF PORTFOLIO HOLDINGS 25 MANAGEMENT 26 CONTROL PERSONS AND PRINCIPAL HOLDERS 31 INVESTMENT ADVISER 31 THE DISTRIBUTOR 33 PORTFOLIO MANAGER 34 ALLOCATION OF PORTFOLIO BROKERAGE 35 PORTFOLIO TURNOVER 36 OTHER SERVICE PROVIDERS 36 DESCRIPTION OF SHARES 37 ANTI-MONEY LAUNDERING PROGRAM 37 PURCHASE, REDEMPTION AND PRICING OF SHARES 38 TAX STATUS 39 INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 44 LEGAL COUNSEL 44 FINANCIAL STATEMENTS 44 APPENDIX A 45 APPENDIX B 47 THE FUND The Fund is a series of Two Roads Shared Trust, a Delaware statutory trust organized on June 8, 2012 (the “Trust”). The Trust is registered as an open-end management investment company. The Trust is governed by its Board of Trustees (the “Board” or “Trustees”).
    [Show full text]
  • SEC News Digest, 06-16-1965
    "ECURITIES AND EXCHANGE COMMISSION ~W~ IDll@~~1r brief summary of financial proposals filed with and actions by the S.E.C. Washington, D.C. 20549 (In ordorlng ,..II to.t .f R.I..... fr.m Publications Unit, clto numbor) (Issue No. 65-6-12) FOR RELEASE _.::..Ju.=.:n::.;:e=--.:..16..:....:........:;:1..:...96:..;:5_ WELLINGTON FUND IS GRANTED EXEMPTION. The SEC has issued an exemption order under the Investment Company Act (Release IC-4276) permitting Wellington Fund. Inc., Philadelphia, Pa., to issue its shares, without sales charge, for substantially all of the cash and securities of Apex Hosiery Company. The assets of Apex consist entirely of cash and marketable securities with a January 31. 1965, value of approximately $9,000.000. BOISE CASCADE SHARES IN REGISTRATION. Boise Cascade Corporation, 114 S. Tenth St., Boise. Ida •• filed a registration statement (File 2-23706) with the SEC on June 15 seeking registration of 292,237 shares of common stock and 78.150 preferred shares. Of the common stock, 134,690 common shares have been acquired by key management employees pursuant to the exercise of options under the company's Stock Option Plan and Preferred Stock Option Plan; 69.750 are subject to outstanding options; and 37,000 are subject to future options; and 50,797 shares may be issued upon conversion of preferred stock. The 78,150 preferred shares are subject to outstanding options. OLYMPIC LIFE INVESTMENT PROPOSES OFFERING. Olympic Life Investment Co., 136 Marietta St., N. W., Atlanta, Ga., filed a registration statement (File 2-23707) with the SEC on June 15 seeking registration of 2,500,000 shares of common stock.
    [Show full text]
  • Great Plains Trust Company, Inc. (“Great Plains” Or “Respondent”)
    UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION SECURITIES ACT OF 1933 Release No. 10869 / September 30, 2020 INVESTMENT COMPANY ACT OF 1940 Release No. 34037 / September 30, 2020 ADMINISTRATIVE PROCEEDING File No. 3-20113 ORDER INSTITUTING CEASE-AND- In the Matter of DESIST PROCEEDINGS PURSUANT TO SECTION 8A OF THE SECURITIES ACT GREAT PLAINS TRUST OF 1933 AND SECTION 9(f) OF THE COMPANY, INC. INVESTMENT COMPANY ACT OF 1940, MAKING FINDINGS, AND IMPOSING A CEASE-AND-DESIST ORDER Respondent. I. The Securities and Exchange Commission (“Commission”) deems it appropriate that cease- and-desist proceedings be, and hereby are, instituted pursuant to Section 8A of the Securities Act of 1933 (“Securities Act”) and Section 9(f) of the Investment Company Act of 1940 (“Investment Company Act”) against Great Plains Trust Company, Inc. (“Great Plains” or “Respondent”). II. In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement (the “Offer”) which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission’s jurisdiction over it and the subject matter of these proceedings, which are admitted, Respondent consents to the entry of this Order Instituting Cease- and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 9(f) of the Investment Company Act of 1940, Making Findings, and Imposing a Cease-and-Desist Order (“Order”), as set forth below.
    [Show full text]
  • Charles Schwab Trust Company Personal Trust Services
    Charles Schwab Trust Company Personal Trust Services Dear Investor, Thank you for your interest in Schwab Personal Trust Services provided by Charles Schwab Trust Company (CSTC). Administering a trust and investing assets successfully can be a complex and time-consuming process, and choosing the right trustee is one of the most difficult decisions in the estate-planning process. CSTC can serve as sole trustee, co-trustee, or successor trustee, depending on your individual needs and circumstances. Our experienced and knowledgeable team of trust and investment professionals takes its fiduciary duty seriously when thoughtfully carrying out your legacy. The benefits of working with CSTC include: • Objective administration and management of your trust assets according to what you have outlined in your estate plan • Superior client service consistent with Charles Schwab’s commitment to putting the client first • Peace of mind in working with a transparent, responsive, and innovative trust company • Highly competitive, easy-to-understand fees The enclosed documentation provides important information for you to review, including checklists, requirements for CSTC to accept its appointment as trustee, and standard trust provisions that we look for in every trust. If you have questions or would like to discuss your trust situation, call us at 1-877-862-4304, Monday through Friday, from 8 a.m. to 5 p.m. Pacific time. Sincerely, Brian Cook CFP®, CTFA President Charles Schwab Trust Company Charles Schwab Trust Company Personal Trust Planning Steps Thank you for your interest in naming Charles Schwab Trust Company as your trustee. If you are ready to move forward, please review the following requirements and then continue with the checklist that best suits your current situation.
    [Show full text]
  • NAIC STANDARD FORM TRUST AGREEMENT for ALIEN EXCESS OR SURPLUS LINES INSURERS (As Amended January 1, 202207)
    Attachment A NAIC STANDARD FORM TRUST AGREEMENT FOR ALIEN EXCESS OR SURPLUS LINES INSURERS (As Amended January 1, 202207) This Agreement, dated ________________, effective as of _________________ between __________________________, organized and existing under the ___________________, its country of domicile and having its head office at ___________________________ (“Company”), and _________________________, a (banking corporation/national banking association) organized and existing under the laws of _______________________ (“Trustee”); having its principal offices at ___________________________________________________. WITNESSETH: WHEREAS the Company is engaged in the insurance business in its country of domicile and has or will have Policyholders in the United States (U.S.) of America as a result of writing insurance on an excess or surplus lines basis on risks therein; and WHEREAS the Company desires to establish a trust fund in the United StatesU.S. as security for said Policyholders and Third- Party Claimants and to qualify as an eligible or approved excess or surplus lines insurer therein; and WHEREAS, the Trustee is willing to act as Trustee of such trust fund; and WHEREAS, the Trustee agrees to administer such trust fund principally from its office in the City of _____________________________ and the State of ________________. NOW, THEREFORE, the Company has transferred to the Trustee cash in U.S. currency, Letters of Credit, Readily Marketable Securities, or any combination thereof, valued at a total of not less than the Trust Fund Minimum Amount as defined in Paragraph 2.7 of this Agreement on the date hereof, receipt of which the Trustee hereby acknowledges and agrees to hold in trust for the uses and on the conditions hereinafter set forth: ARTICLE 1 DEFINITIONS The following terms used herein shall, unless the context otherwise requires, have the following meanings: 1.1 “AMERICAN United StatesUNITED STATES U.S.
    [Show full text]
  • 15 Years: the Evolution of the Sanibel Captiva Trust Company
    TRUST AND WEALTH MANAGEMENT MINI-FEATURE 15 YEARS: THE EVOLUTION OF THE SANIBEL CAPTIVA TRUST COMPANY n the late 1990s, Al Hanser retired to Sanibel-Captiva for beneficiaries in the future. That’s when Al made Islands after a life-long career in the investment up his mind to put a team together and establish The Iand banking industry. Having served as chairman Sanibel Captiva Trust Company in 2000, becoming and CEO of Resource Bank and Trust Company in founder and chairman. Minneapolis, Minn., he knew the business well. He was “Having met so many talented people here in also senior executive of investment banking at Dain Southwest Florida, I knew this was very doable,” Rausher (now RBC Wealth Management), as well as said Al. “Successful people want to live here, and chairman, CEO and board member of USB Merchant that meant we could attract the level of professionals Bank, and chairman of Hanrow Financial Group, Ltd. necessary to build an outstanding investment and trust Al had clearly earned the reward of relaxing in the team right here, and we did.” They cultivated a Fortune beauty of the barrier islands. But like many successful 500-caliber board of directors and hired accomplished business people, he flunked retirement. professionals, some of whom were coaxed out of an It wasn’t long after Al and wife, Sally, had settled early retirement. Respected banker and investment in Sanibel when he realized there were no dedicated manager Richard Pyle, CFA, is one such expert serving investment or trust services actually on Sanibel- as president of The Sanibel Captiva Trust Company.
    [Show full text]
  • The Trust Companies, National Banks and Surety
    Orphans’ Court of Allegheny County Attorneys and Others Authorized To Execute Bonds and Undertakings For FIDUCIARY AND SURETY COMPANIES APPROVED FOR 2020 Hon. Lawrence O’Toole, A.J. SECTION I __________________________________________________________________ 3 ACTIVE COMPANIES _____________________________________________________ 4 APPROVED CORPORATE FIDUCIARIES ____________________________________ 5 APPROVED CASUALTY and SURETY COMPANIES _________________________ 11 ALIGNED PARTNERS TRUST COMPANY________________________________ 14 RBC TRUST COMPANY (DELAWARE) LIMITED _________________________ 15 AMERICAN HOME ASSURANCE COMPANY_____________________________ 16 AMERIPRISE BANK, FSB ______________________________________________ 20 AMERISERV TRUST and FINANCIAL SERVICES COMPANY _______________ 21 APOLLO TRUST COMPANY ___________________________________________ 23 ARCH INSURANCE GROUP, INC. _______________________________________ 24 ARDEN TRUST COMPANY ____________________________________________ 26 ASPEN AMERICAN INSURANCE COMPANY_____________________________ 29 ATLANTIC SPECIALTY INSURANCE COMPANY’S _______________________ 31 CIBC NATIONAL TRUST COMPANY. ___________________________________ 34 BANK OF AMERICA, N.A. _____________________________________________ 43 BERKLEY INSURANCE COMPANY _____________________________________ 44 BESSEMER TRUST COMPANY, N.A. ____________________________________ 46 BROWN INVESTMENT ADVISORY & TRUST COMPANY __________________ 47 THE BRYN MAWR TRUST COMPANY __________________________________ 48 CHARLES SCHWAB
    [Show full text]
  • Fidelity Management Trust Companysm Our Investment Management Business and Policies
    Fidelity Management Trust CompanySM Our Investment Management Business and Policies As of March 31, 2021 This document provides important information for clients investing in commingled pools and separate accounts managed by Fidelity Management Trust Company. The information contained in this document has not been approved or verified by any securities, banking, or regulatory authority. MATERIAL CHANGES Material changes since this document was issued on March 20, 2020 are described below: • Updates have been made to the "Other Financial Industry Activities and Affiliations" section to reflect Digital Brokerage Services LLC as an affiliated broker-dealer. • Updates have been made to describe the types of asset management services and products that Fidelity manages. • Updates have been made to the Transactions with Certain Brokers disclosure in the "Brokerage Practices" section to address exchanges that FMTC or its affiliates have an interest. Table of Contents About Fidelity Management Trust Company……………………………………………………….….. 4 Fees and Compensation……………………………………..………………………………………….. 5 Performance-Based Fees and Side-by-Side Management………………………………………….. 6 Methods of Analysis, Investment Strategies, and Risk of Loss……………………………………… 7 Disciplinary Information……………………………………………………………………………….…. 12 Other Financial Industry Activities and Affiliations……………………………………………...…….. 12 Code of Ethics and Related Policies, Participation or Interest in Client Transactions, and Personal Trading……………………………………………………………………. 17 Brokerage Practices………………………………………………………………………………………
    [Show full text]
  • Private Equity Direction of Investment
    PRIVATE EQUITY DIRECTION OF INVESTMENT WHEN TO USE THIS FORM IMPORTANT! The purpose of this Private Equity Direction of Investment form is to Equity Trust Company does not investigate, sponsor, or endorse any initiate an investment within your retirement account at Equity Trust investment product. You assume sole responsibility for the success Company for one of the following: or failure of your investments. You are responsible for directing the investment of assets in your account. Equity Trust Company does not provide any investment advice, or recommend or evaluate the • Limited Partnerships • Private Stocks merits or suitability of any investment. • Limited Liability • C-Corporations Companies If Equity Trust Company’s services were suggested by a financial rep- • Joint Venture resentative, such person is not an agent, employee, representative, or • Land Trusts affiliate of Equity Trust Company. Equity Trust Company is not responsi- If the investment that you are purchasing is not listed above, this ble for and is not bound by any representations, warranties, statements may not be the correct form for your purchase. For assistance please or agreements made by any financial representative. contact a Client Service Representative at 877-693-8208. INSTRUCTIONS & GUIDELINES SUPPORTING DOCUMENTATION This Direction of Investment form provides all of the information Submit the following required documents with your Direction of In- necessary to make a formal investment request. This request is vestment packet: (Sorted by Investment Type)
    [Show full text]
  • THE DEPOSITORY TRUST COMPANY Disclosure Framework for Covered Clearing Agencies and Financial Market Infrastructures
    THE DEPOSITORY TRUST COMPANY Disclosure Framework for Covered Clearing Agencies and Financial Market Infrastructures December 2020 ADVANCING FINANCIAL MARKETS. TOGETHER.TM DTCC Public (White) THE DEPOSITORY TRUST COMPANY: Disclosure Framework for Covered Clearing Agencies and Financial Market Infrastructures Responding Institution: The Depository Trust Company (“DTC”) Jurisdiction: State of New York, United States of America Authorities: U.S. Securities and Exchange Commission; Federal Reserve Bank of New York; New York State Department of Financial Services Except as noted in Section II, the information provided in this Disclosure Framework is accurate as of December 31, 2020; financial information and certain other data are provided as of the dates specified. This Disclosure Framework can also be found at www.dtcc.com. For further information, please contact [email protected]. Page 2 DTCC Public (White) THE DEPOSITORY TRUST COMPANY: Disclosure Framework for Covered Clearing Agencies and Financial Market Infrastructures Table of Contents Executive Summary ......................................................................................................................... 5 Summary of Major Changes since the Last Update of the Disclosure ............................................ 6 General Background of DTC and Key Metrics ............................................................................... 7 Principle-by-Principle and Standard-by-Standard Summary Narrative Disclosure ....................... 14 Principle 1:
    [Show full text]
  • First Trust Exchange-Traded Fund V PROSPECTUS
    First Trust Exchange-Traded Fund V PROSPECTUS First Trust Managed Futures Strategy Fund Ticker Symbol: FMF Exchange: NYSE Arca First Trust Managed Futures Strategy Fund (the “Fund”) lists and principally trades its shares on NYSE Arca, Inc. ("NYSE Arca" or the "Exchange"). Market prices may differ to some degree from the net asset value of the shares. Unlike mutual funds, the Fund issues and redeems shares at net asset value, only in large blocks of shares called "Creation Units." The Fund is a series of First Trust Exchange-Traded Fund V (the “Trust”) and an actively managed exchange-traded fund organized as a separate series of a registered management investment company. Except when aggregated in Creation Units, the shares are not redeemable securities of the Fund. The Securities and Exchange Commission and Commodity Futures Trading Commission have not approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense. NOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE May 3, 2021 Table of Contents SummaryInformation............................................................................... 3 Additional Information on the Fund's Investment Objective and Strategies . ................................13 FundInvestments...................................................................................13 RisksofInvestingintheFund.........................................................................14 Fund Organization ..................................................................................24
    [Show full text]
  • How the Rich Stay Rich: Using a Family Trust Company to Secure a Family Fortune
    University of Tennessee, Knoxville TRACE: Tennessee Research and Creative Exchange College of Law Faculty Scholarship Law February 2013 HOW THE RICH STAY RICH: USING A FAMILY TRUST COMPANY TO SECURE A FAMILY FORTUNE Iris Goodwin university of tennessee, [email protected] Follow this and additional works at: https://trace.tennessee.edu/utk_lawpubl Part of the Law Commons Recommended Citation Goodwin, Iris, "HOW THE RICH STAY RICH: USING A FAMILY TRUST COMPANY TO SECURE A FAMILY FORTUNE" (2013). College of Law Faculty Scholarship. https://trace.tennessee.edu/utk_lawpubl/57 This is brought to you for free and open access by the Law at TRACE: Tennessee Research and Creative Exchange. It has been accepted for inclusion in College of Law Faculty Scholarship by an authorized administrator of TRACE: Tennessee Research and Creative Exchange. For more information, please contact [email protected]. HOW THE RICH STAY RICH: USING A FAMILY TRUST COMPANY TO SECURE A FAMILY FORTUNE Iris J. Goodwin * He started a story that began, "The very rich are different from you and me." Someone said, "Yes, they have more money." - Ernest Hemingway, The Snows of Kilimanjaro We’re not a family… we’re a firm! - King George VI about the British Royal Family 1 This Article is about family trust companies and the way they are used by very wealthy families to preserve great fortunes. A family trust company is a corporation formed to provide fiduciary services to a single family or related group of people, in contrast to banking institutions established to offer similar services to a larger public. The province of the mega-rich (who remain very much upon the American landscape, the recent economic crisis notwithstanding 2), the family trust company is generally thought to be a vehicle for families with a net worth of at least $200 million.
    [Show full text]