16 Nov, 2011
Trust Corporation of the Channel Islands announces new offering in USA
Trust Corporation of the Channel Islands has expanded its wealth management operation internationally to the US to account for the increasing needs from existing and potential US-linked private clients. The move which only a few Channel Islands based organisations are offering also follows the recent expansion of Trust Corporation’s headquarters in Guernsey.
The establishment of Regent Capital Advisors LLC by the directors of Trust Corporation is unique in having both a dedicated hub in Nevada with foreign parentage and facilities in the Channel Islands. This enables it to offer international and domestic structuring and administration solutions from the US. The combination of these facilities and the understanding of both onshore and offshore US issues can be very attractive for international families with an exposure in that region.
This move takes place to coincide with changes in securities and tax legislation which is encouraging US families and their advisors to re-examine the most efficient way of holding their asset base. Regent Capital can offer solutions to help clients navigate through these issues and facilitate ownership structuring and succession arrangements through its private trust company offering.
“While recognising the new and other anticipated regulations will have a dramatic effect on the way business is conducted as a foreign trustee we knew that extending our services to the US was the only answer for us to continue our unique personal and professional service” said Michael Betley, Managing Director of Trust Corporation (pictured).
Families with US exposure can create optimum wealth management solutions, managing US and non-US investment holding and trust structures either from within or outside the US or a combination of the two. This is becoming increasingly important for those families with relatives in the US and for those who are part of the increasingly mobile global community.
“We wanted to continue the prudent management of our clients’ trusts by actively addressing our clients’ concerns and unease, and decided to set up Regent Capital to enable existing and future trusts to be managed locally in the US,” says Betley
Easily accessible, Nevada is one of just a handful of US States that actively encourage and welcome new private wealth businesses through its progressive legislative changes, making it the ideal location for the setting-up of family offices and private trust companies.
2011 was another strong year for Guernsey-based Trust Corporation, which has again seen several new hires and double-digit growth. The year has also seen a recent move in to purpose-built premises, which will become the company’s headquarters, and will be central the growth of the global business.