- Arxan highlights financial app vulnerability epidemic
- Traditional banks are turning to chatbots, says Teleperformance
- Government committees question Lloyds’ pension contributions for executives
- Complaints figures show increased dissatisfaction with short-term lenders
- Lloyds commits to training 2,500 colleagues by 2021 to help tackle mental health
- UK Finance publishes February 2019 card spending update
- UK named as 'best in the world' for Fintech investment expired
- The biggest sufferers of NSF/Provident Financial merger will be customers, says Fairmoney expired
- UK Finance publishes mortgage trends update for March 2019 expired
- New TTF report highlights loss of trust in financial services expired
- Paragon’s structured lending team supports Lantern Debt Recovery Services expired
- Crédit Agricole boosts profits in first quarter 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.