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fiduciary earnings expenses trust bank Investment Advisor wealth management assets Trust Performance Report trust company executive priorities revenue expenses net income A.M. Publishing financial institutions Bernard Garbo Trust Revenue Growth Slowing in 2022; Executives Report Mixed Concerns

(October 28, 2022 --Chicago, IL) -- Gross revenues for the industry grew by a weighted average of 6 percent in the first half of 2022, according to Trust Performance Report 2022's semiannual update.

Revenue growth was in sharp contrast to the 11 percent decline in fiduciary assets in the first half of 2022. However, the decline in fiduciary assets was considerably better than the 15 percent decline reported by the Dow Jones Industrial Index or the 21 percent decline reported by Standard & Poors 500 in the first half of the year. What may have offset the decline in fiduciary assets was a 3.5 percent in new accounts.

New account growth is overall the highest concern among all trust executives, according to preliminary findings by A.M. Publishing's Fiduciary Earnings & Expense report. The report is scheduled to be released mid-November.

New account growth is however not the number 1 of all trust executives. Executives at Peer Group 3 institutions (total assets of $1 billion to $10 billion) ranked "controlling costs" and "meeting revenue targets" as higher concerns than generating new accounts. This was the ranking across all institution types. However, overall, executives at independent trust companies ranked "controlling costs" as their highest concern. Generating new accounts and meeting target revenues were much lower on the list of concerns among executives at independent trust companies than executives at bank trust divisions or national trust companies.

Productivity, as defined by FEE, was very mixed, according to preliminary findings.

The COVID-19 pandemic was ranked as a high concern except among trust executives at large institutions, which ranked it as their third highest concern, following account growth and meeting revenue targets. Concern was the highest among executives at national trust companies.

Trust Performance Report annually surveys bank trust divisions and independent trust companies. It reports annually in May on the top 1200 trust institutions and semiannually on the top 400 trust institutions.

Fiduciary Earnings & Expenses focuses on a more in-depth review of revenue and expenses, while TPR focuses more on asset performance. FEE also breaks down its comparison by institution type comparing performance among independent trust companies to that of OCC national trust companies and to bank trust divisions.

For sample pages of:
+ Trust Performance Report 2022, go to:
+ Trust Performance Report 2022 semiannual report go to:
+ Fiduciary Earnings & Expenses 2021 go to:
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Trust Performance Report -- annual data book, published in May, provides both industry and peer group performance data by assets, gross revenue, net income, and account category. Subscribers receive semiannual updates. TPR findings are based on its annual survey of the top 1200 fiduciary institutions. For more best practices and benchmark data see TPR. For information on ordering click here or the link below.

Fiduciary Earnings & Expenses -- annual data book comparing performance among independent trust companies to that of OCC national trust companies and to bank trust divisions. For information on ordering click here or the link below.

For Sample copies of both publications click here and then, on the web page, check "Trust Performance Report."

Data Files -- a spreadsheet version of Trust Performance Report is available. For more information on rates, please visit … Discounts apply for subscribers to Trust Performance Report. For more information on discounts, please email:

No statement in this issue is offered as or should be construed as legal opinion or advice or as an indicator of future performance.
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