Personal Trust Update 2011
Trust Assets increased slightly from prior year to end 2010 at $870 billion dollars, while assets held in bank trust departments increased two percent in 2010; underperforming the return on equities. The number of institutions reporting personal trust assets at the end of 2010 decreased to 1,455 institutions. Much of this decrease can be attributed to bank failures and subsequent mergers.
The 2011 Personal Trust Update is Spectrem's 8th annual report based on our analysis of FDIC data supplemented with Spectrem insights gleaned from our studies of affluent Investors. This report reviews the trends in total personal trust assets and accounts, managed versus non-managed personal trust assets, as well as provide the status of common/collective funds. Also, due to the more extensive information required by government reports, our analysis provides you with even more in-depth analysis than in previous years.
New to the Trust Report this year is gross income derived both from personal trust and agency accounts as well as income generated from any service rendered by the institutions trust department. Additionally, gross income generated from the following lines of business are included:
- Defined Contribution Services
- Defined Benefit Services
- Corporate Trust Services
- Investment Management Services
- Foundation and Endowment Services
- Custody and Safekeeping Services
$3,800
