- CMA's independent survey scores banks on quality of service
- VTB reaches agreement on the acquisition of Bank Vozrozhdenie
- House purchase activity slowed in June but remortgaging activity remains high, says UK Finance
- FCA makes it easier for customers to use and compare current accounts
- FreeAgent secures Open Banking registration from FCA
- New FCA rules double pressure on traditional banks to provide seamless service, says Intelenet
- Deutsche Bank Wealth Management steps up growth plans expired
- DevOps adoption will accelerate over the next two years in the financial services sector, finds Claranet expired
- NatWest and RBS launch 2018 Student Account expired
- Fundsquire hires new UK Managing Director expired
- Robo-advice will offer competitive advantage to traditional wealth managers, says GlobalData expired
- RBS launches the ‘100 Women’ event series expired
15th May 2018
Pershing adds Capital First Trust Company to its trust network
BNY Mellon's Pershing has added Capital First Trust Company (Capital First) to its trust network. Capital First focuses on special needs trusts—an area of growing interest for Pershing clients. This latest addition brings the total number of providers in the Pershing Trust Network to seven.
"Capital First brings to our network a deep expertise in special needs trusts as well as lower minimums geared toward the unique needs of this community," said Katie Swain, director of financial solutions at Pershing. "We are increasingly hearing clients inquire about special needs trusts and we are thrilled to add to our network a provider that has a niche focus in this area."
In addition to Capital First's standard low fee schedules, the firm offers fee schedules for large revocable, irrevocable, and special asset accounts, bypassing the traditional fee schedule approach and providing separate discounted breakpoints for relationships at $5m and $10m+.
"We are honoured to be selected for inclusion in the Pershing Trust Network," said Chris Foregger, president of Capital First Trust Company. "We believe our strength in the administration of special needs trusts, as well as the advisor directed trust space, will provide a unique value to Pershing clients."
Launched in 2008, Pershing's Trust Network includes capabilities such as full trustee services and administrative trustee services. The platform enables Pershing's clients to perform investment management activities for their clients' trust accounts with all related assets held in custody at Pershing.