MILWAUKEE, Jan. 27, 2020 /PRNewswire/ -- Milwaukee-based Capital First Trust Company announced they will be closing 2019 on a high note. Created in 1999 with the sole intent of providing trust services to the personal injury settlement community, the firm is now one of the largest providers of settlement trusts, special needs trusts, and advisor-directed trusts. Highlights of 2019 include:
- Deployment of marketing initiative to financial advisors, settlement planners and attorneys.
- Expanded relationship with financial advisors including Milwaukee-based Northwestern Mutual Wealth Management Company.
- New clients included pooled special needs trusts with Wispact of Wisconsin and Commonwealth Community Trust of Virginia.
- Introduction of pre-trial trust services to assist plaintiff attorneys and settlement planners resolve new cases.
- Preferred trustee for the Financial Engineering Institute.
- Growth initiatives through targeted speech engagements for trust attorneys, settlement planning organizations, wealth management firms and plaintiff attorney associations.
- Expansion of outside sales territories to Charlotte and New Orleans.
"2019 came together from a number of sales initiatives we put in place over the last few years", noted Chris Foregger, President of Capital First."We are very excited to join the Trust Alliance Program at Northwestern Mutual and support their financial advisors with our directed trust services. Our partnership with True Link Financial has enabled our firm to provide trust services to the diverse financial needs of pooled trust organizations including Wispact and Commonwealth Community Trust."
On January 1, 2020, Capital First reached the $1 billion milestone for assets under administration. In addition, 2019 saw the firm increase the number of professional relationships including financial advisors, settlement planners and attorneys.
According to Mick McMahan, Chairman of the Board of Directors, "when we initially invested in this company, we provided a new location and new infrastructure, which created a professional work environment that helps facilitate its growth." He continued, "the Board is very pleased with the management team and the strides the company has been able to make in diverse markets. The firm has historically had a strong position within the special needs trust services community. But the growth in wealth management and pooled special needs trusts has been substantial in 2019."
Since inception, over 2,000 settlement trusts have been administered, including over 400 special needs trusts throughout the country, making Capital First one of the largest providers of special needs trusts in the country. With administrative offices in Milwaukee and Sioux Falls, 31 employees administer over $1 billion in assets serving as fiduciary for a variety of trusts created specifically for injured and disabled individuals. Capital First trust services include:
- Special Needs Trusts
- Settlement Preservation Trusts
- Advisor Directed Trusts
- Qualified Settlement Funds
- Medical Reversionary Trusts
One of the company's primary goals was to expand its geographical footprint. The addition of representatives working out of Charlotte and New Orleans has supported those efforts. "We understand that the basic premise of the trust business is client-focused service," Foregger continued. "Our professional trust officers and administrators work hard for our clients and we look forward to continued progress in 2020."
Capital First has offices in Milwaukee, WI and Sioux Falls, SD.
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SOURCE Capital First Trust Company
