Trust Updates Archive

Revenue Fiduciary Trust Performance Report Personal Trust Regulatory News Bank A.M. Publishing Bernard Garbo First Quarter Revenue and Account Growth Suggests Profitable Year

(July 10, 2014 --Chicago, IL) -- Despite weakened asset performance in 2014, revenue growth remained strong and appears likely to set a new record, according to Trust Performance Report's quarterly update. Some 30 percent of respondents to TPR's annual survey of trust assets say they expect to raise one or more fees in 2014.

In the first three months of the year, 8 out of 10 institutions reported both positive asset and revenue growth. As compared to the same time in 2013, revenues grew slightly faster than assets for most institutions: 10 percent revenue growth compared to 9 percent asset growth (weighted averages). However, as compared to the prior quarter, asset growth was considerably slower, only 2 percent (weighted average); for the same time period, the Dow Jones Industrial Average declined by less than 1 percent.

Employee benefit accounts remain the industry's asset growth leaders but lag in revenue gains, resulting from poor performance among the largest institutions. While total EBT assets grew by 14 percent, revenues grew by only 7 percent. Among the largest institutions, asset growth matched that of the industry, but their revenues grew by only 4 percent.

Custody, foundations, and personal trusts were the industry's strongest revenue gainers. In each category, the rate of revenue growth exceeded that of assets.

With account growth of near 3 percent and with 3 out of 5 institutions reporting positive account growth, asset growth exceeded DJIA returns for most institutions. Average managed account growth was 8 percent, compared to 3 percent for nonmanaged accounts

For a complete copy of the TPR's quarterly update Click Here.

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 quarterly updates. TPR findings are based on its annual survey of the top 1500 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 is published in September. For information on ordering click here or the link below.

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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