May 9, 2018
The addition brings to the network a niche focus on special needs trusts
Jersey City, N.J. — BNY Mellon’s Pershing (Pershing) announced today that it 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 BNY Mellon’s 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 $5 million and $10+ million.
“We are honored 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. Trust Network is available to Pershing's introducing broker-dealer clients through Pershing LLC and registered investment advisors via Pershing Advisor Solutions LLC.
About Capital First Trust
Capital First Trust Company is an independent South Dakota chartered trust company with offices in Sioux Falls, South Dakota and Milwaukee, Wisconsin. Capital First is not affiliated with any other financial services company. Corporate trustee services are provided in conjunction with Financial Advisors, Settlement Planners, Attorneys, and other industry professionals.
About BNY Mellon's Pershing
BNY Mellon’s Pershing and its affiliates provide advisors, broker-dealers, family offices, hedge fund and ’40 Act fund managers, registered investment advisor firms and wealth managers with a broad suite of global financial business solutions. Many of the world’s most sophisticated and successful financial services firms rely on Pershing for clearing and custody, investment and retirement solutions, technology, enterprise data management, trading services, prime brokerage, managed account technology and operations and business consulting. Pershing helps clients improve profitability and drive growth, create capacity and efficiency, attract and retain talent, and manage risk and regulation. With a network of offices worldwide, Pershing provides business-to-business solutions to clients representing more than seven million investor accounts globally. Pershing LLC (member FINRA, NYSE, SIPC) is a BNY Mellon company. Professionally advised managed accounts are offered through its affiliate, Lockwood Advisors, Inc., which is an investment adviser registered in the United States under the Investment Advisers Act of 1940. Additional information is available on pershing.com, or follow us on Twitter @Pershing.
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of September 30, 2019, BNY Mellon had $35.8 trillion in assets under custody and/or administration, and $1.9 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.