When we act solely as a custodian, our focus is on the administrative tasks essential for safeguarding your financial assets. In this role, we neither have investment authority nor exercise discretionary authority over the assets.
Our custody system is designed to offer flexible accounting options to meet the specific needs of trustees and investors. These options include specialized accounting methods for trusts, estates, and conservatorships, helping ensure that both accounting and record-keeping conform to the Uniform Fiduciary Income and Principal Act.
Custody for Unique and Hard-to-Value Assets
Clients with complex family trusts or specialized investment needs can benefit from our tailored custody services for unique and hard-to-value assets. These services can handle a variety of assets, from residential real estate and privately held company stocks to partnership interests, life insurance, promissory notes, tangible assets, and collectibles. This range of services distinguishes us from brokerage firms, which typically handle only publicly traded securities.
IRA Custody Services
If you're considering a self-directed IRA, our custody services offer a unique advantage. We can hold a diverse range of assets, from publicly traded securities to unique and hard-to-value assets, including real estate and privately held securities. This flexibility allows for a more diversified investment strategy within your IRA.
Users of Asset and IRA Custody Services
Our services cater to a diverse clientele, including trustees, individuals with self-directed IRAs, high-net-worth individuals, and family offices.
If you seek to separate asset custody from investment advice, our services offer an ideal solution. We focus on streamlined asset administration, meticulous record-keeping, and secure asset holding. These features cater especially busy individuals or those lacking specialized expertise in asset custody, trust accounting and record-keeping.
Due Diligence in Custody
Before entrusting your assets to any institution, we strongly recommend thorough due diligence. Examine the institution's regulatory framework, reputation, and financial stability to make an informed choice.
Custody Service Charges
NO INVESTMENT MANAGEMENT - THE TRUST AGREEMENT DIRECTS THE INVESTMENT DUTIES, AUTHORITIES AND RESPONSIBILITIES TO A THIRD PARTY ANNUAL SERVICE CHARGE BASED ON FAIR MARKET VALUE OF ASSETS
|Market Value||Annual Service Charge|
|On the frst $1,000,000||0.55%|
|On the next $2,000,000||0.45%|
|On the next $2,000,000||0.40%|
MINIMUM ANNUAL SERVICE CHARGE
Custody of assets required by Chain Bridge Bank Access to an assigned Administrator Coordination of tax preparation information Court reporting as needed Four discretionary requests per year (applicable to Irrevocable Personal Trusts only) Safekeeping of securities via Depository Trust Company Collection of income and principal Tracking and analysis of corporate reorganizations and capital changes Daily cash management Digital access to account statements and reports Execution and settlement of trades.
ADDITIONAL SERVICE CHARGES
The Trust & Wealth Department reserves the right to assess additional transaction service charges if the investment manager's style imposes an extraordinary operational burden. Clients will discuss and agree upon these charges before their assessment. Charges may apply for special assets or transaction types, and for additional or extraordinary oficer or staf time. These charges follow the Special Management Services Service Charge Schedule.
ALLOCATION OF SERVICE CHARGES
In trust accounts, subject to the terms of the governing document, service charges will allocate 50% to income and 50% to principal.
COURT ACCOUNTING SERVICE CHARGES
Accounts under judicial supervision may require periodic accountings to the Court. Due to unique requirements, additional charges will apply. These charges are subject to Court approval.
This Service Charge schedule becomes efective on November 1, 2023, and supersedes all previous versions. The Trust & Wealth Department reserves the right to modify this schedule at its discretion. Clients may obtain the most current version upon request.
For further details on our custody services, including our specialized IRA services and capabilities for hard-to-value assets, please contact us.