NEW YORK, Feb. 8 /PRNewswire/ -- TD Waterhouse Institutional Services, a
division of TD Waterhouse Group, Inc. (NYSE: TWE; TSE), the global online
financial services firm, today announced plans to provide access to
administrative trust services for its more than 3,000 independent financial
advisor clients. The service, available through a newly formed alliance with
The Capital Trust Company of Delaware, an independent trust company, was
announced in San Diego at Partnership 2001, TD Waterhouse's annual conference
for financial advisors. Financial terms of the agreement were not disclosed.
Commenting on the announcement, J. Thomas Bradley, Jr., President of TD
Waterhouse Institutional Services said, "The increase in wealth the U.S. has
experienced over the past ten years has piqued financial advisors interest in
personal trusts as a wealth preservation tool." He continued, "In keeping
with our commitment to provide objective, unbiased services to advisors, we
searched for a trust company with no conflicts of interest for advisors.
Capital Trust meets these criteria, helps us provide a service of increasing
importance to advisors and allows them to leverage the most wealth-friendly
laws in the country. "
Through this relationship, advisors will be able to work with Capital
Trust on the administration of all types of personal trusts - from living,
charitable and special needs trusts to dynasty, asset protection and life
insurance trusts. In addition to providing personalized trust services,
Capital Trust contributes a deep understanding of fiduciary principles and the
expertise to apply them in virtually any trust situation.
The service is available to all advisors in the TD Waterhouse network and
has no minimum account size requirements.
"Like TD Waterhouse Institutional, we are a service company, dedicated to
supporting advisors as they help their clients achieve their financial goals,"
said Jeffrey R. Lauterbach, Chairman, President & CEO of The Capital Trust
Company of Delaware. "We look forward to applying our expertise to bring the
benefits of Delaware law and advisor-friendly trust services to TD
Waterhouse's advisor clients."
Capital Trust's largest shareholder, Corporation Service Company, has a
tradition of independence that goes back a century, through four generations.
In addition, Capital Trust serves as the trustee of The U.S. Charitable Gift
Trust and its sponsored pooled income funds.
TD Waterhouse Group, Inc., (NYSE: TWE; TSE), provides investors and
financial advisors with a broad range of brokerage, mutual fund, banking and
other consumer financial products on an integrated basis. In the United
States, TD Waterhouse is the only online discount broker to have a retail
branch in all 50 states. Worldwide, TD Waterhouse currently services
4.4 million customer accounts in the United States, Canada, the United
Kingdom, Australia, and Hong Kong. The firm also services customers in Japan
and India through joint ventures in those countries. TD Waterhouse can be
found on the Internet at http://www.tdwaterhouse.com and on America Online at
Keyword: TD Waterhouse. In the U.S., brokerage services provided by TD
Waterhouse Investor Services, Inc. (Member NYSE/SIPC).
SOURCE TD Waterhouse Institutional Services
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Related links:
http://www.tdwaterhouse.com
Company News On-Call:
http://www.prnewswire.com/comp/959635.html or fax,
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CONTACT:
Melissa Fox, Manager, Public Affairs,
212-908-3101, melissafox@tdwaterhouse.com, or Lazaro Benitez,
Coordinator, Public Affairs, 212-908-7187,
lazarobenitez@tdwaterhouse.com, both of TD Waterhouse Group, Inc.
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