Perspecta Trust Hits Milestone

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New Hampshire’s Trust Laws bring Business to the State

HAMPTON, N.H.--(BUSINESS WIRE)-- Perspecta Trust announced today that its fiduciary assets under supervision crossed the $1 billion mark at the end of October, representing a four-fold increase over last year.

Perspecta’s Chairman, Paul Montrone commented, “We are extremely pleased with our company’s progress to date. We have a unique business model that many high net worth families find attractive, and it is a direct complement to the major improvements that have taken place in NH’s trust laws in recent years.”

Over the past seven years, New Hampshire’s governor and state legislature have put in place new trust statutes that are considered to be the nation’s most attractive. One result is that since 2006, the number of chartered trust companies in the state has doubled.

Mr. Montrone continued, “The improvements in New Hampshire trust laws have created a very favorable environment in which to grow the trust business. Both democrats and republicans have supported these changes over the years, and this is clear evidence that elected officials, working with the private sector, can create attractive jobs in the state.”

Regarding the Company’s progress, Scott Baker, Perspecta’s Principal said, “We are seeing significant interest from high net worth families wanting to create a wealth transfer strategy in light of the current favorable federal tax treatment of gifts. These laws may change as soon as later in November, so many families are reaching out to us now to discuss how they can implement a well thought out plan before the tax laws change once again.”

Because of its growth, Perspecta has not only increased its administrative support personnel, but also recently added three new members to its management team, welcoming Elizabeth Collins, Anthony Annino and Janet Seekell to its organization.

Elizabeth Collins, formerly of Fidelity Personal Trust Company and US Trust, joins Perspecta as a Trust Officer, and will be working directly with high net-worth clients in the management of their trusts. Ms. Collins holds an MBA in Finance, an MS in Taxation and has received the CTFA designation.

Anthony Annino, formerly of Cambridge Trust, joins as an Investment Analyst, and will be responsible for investment research and portfolio construction for clients’ trust accounts. Mr. Annino has a BA in Business Administration, an MBA, and is a Chartered Financial Analyst.

Janet Seekell joins Perspecta as a Trust Administrator where she will be responsible for the administration of the firm’s client accounts and trust operations. Prior to joining Perspecta, Ms. Seekell had fifteen years of operations and client service experience working with MFS Investment Management and more recently JPMorgan, both out of their Boston offices.

Commenting on Perspecta’s new additions, Mr. Baker states, “We are very fortunate to have persons of such high caliber and depth of experience join the Perspecta team. Our clients expect world-class thought leadership and service from us, and our new additions allow us to continue to deliver just that.”

About Perspecta

Perspecta Trust is a NH based non-depository trust company that provides wealth transfer planning, investment management and a full-range of trustee and other fiduciary services. Perspecta specializes in designing tailored wealth planning solutions to high net worth families, and overseeing their implementation. It works directly with families or in concert with their advisors and attorneys.

About New Hampshire Trusts

The state of New Hampshire has passed several legislative bills over the last decade to modernize its trust statutes. As a result of these changes, and favorable tax laws, New Hampshire is now considered by many to be the most advantageous state in the nation in which to place trust assets. Any family, regardless of their state of residence, can establish a New Hampshire-based trust to benefit from many, if not all, of these advantages.

To learn more about New Hampshire’s advantageous trust laws, please visit nhtrustcouncil.com.

Perspecta TrustScott Baker, 603-929-2700perspectatrust.com

Source: Perspecta Trust

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