The Family Heritage Trust Company Opens
Frederick, Maryland; February 29, 2008 – Individuals, families, business owners, civic groups, charitable organizations, and independent investment advisors in Frederick County now have another option for trust and investment services.
The Family Heritage Trust Company, a non-depository bank chartered independent trust company and private wealth management firm, has opened to provide personalized, face-to-face trust and investment services, while focusing on achieving market level performance, meeting client objectives, and anticipating client needs. Services available to clients include portfolio management, asset selection, bill paying, supporting less qualified family members with life challenges, transition of assets to the next generations, tax planning, and selection of related professionals. Individualized stock portfolio management is offered as well as low management fee mutual funds.
Donald C. Linton, CPA/CFP, has been named Chairman of the Board of Directors, with Charles F. Trunk, III and W. Jerome Offutt, Esq. serving as Vice Chairman. Michael G. Day, Esq., is President, Robert D. Brill is Vice President and Chief Operating Officer, and Kimberly A. Hawbaker is Secretary/Treasurer. Members of the Board of Directors include Edward T. Garrett, CPA, Jeffrey P. McEvoy, Esq., William E. Sauser, Esq., and Joseph S. Welty, Esq. from Frederick County; Eugene Albert, Peter D. Alexander, Todd Baer, Robert L. Harrell, CPA, John P. Itell, CPA, Ed H. Lough, R. Kert Shipway, CPA, Paul Sweeney, and J. Randall Thompson from Washington County; Douglas E. Metz from Eldersburg; and R. Thomas Murphy, Esq., from Waynesboro, PA.
Linton, who is well-known in western Maryland as founder of Linton Shafer Warfield & Garrett, PA, shares the need for the creation of the new trust company. "Traditionally, trust services have been offered as a component of a bank," Linton states. "With the consolidation of the banking industry and the relatively high cost of providing trust services, the minimum to maintain a trust account has been raised or, in some instances, customary services have been reduced. The Family Heritage Trust Company strives to provide an affordable option for trust and investment services, with "high tech" and “high touch” as our standard."
Trust accounts may be opened with a minimum balance of $250,000, an amount that is usually too small for custom management yet too large to engage in the selection of appropriate mutual funds without relying upon the assistance of a brokerage house. Investment services are provided on a fee basis, with no commission-based charges.
Day, an elder law attorney practicing in western Maryland, addresses the benefits that an independent trust company has. "An independent trust company is a regulated entity that must operate according to statutes that govern capital requirements and actions that fulfill the interests of the trust," says Day. "Additionally, as an independent trust company, Family Heritage Trust Company has the autonomy to exercise decisions and manage a trust in light of its governing documents for the beneficiaries without the conflict of corporate interests often associated with mega-banks. This is the essence of what an independent trustee is all about."
While client services are provided throughout western Maryland and south-central Pennsylvania, primary offices are located at South Market Center, 50 Carroll Creek Way, Suite 210, Frederick, Maryland, 21701. More information on The Family Heritage Trust Company may be obtained by calling (301) 631-5900.