Legal Seminar, Chicago, IL

• What if there was insurance other than FDIC? • Initial vs. Ongoing capital standards. • What is purpose of capital for ITCs – funding for resolution, protection of clients or some other purpose?

• In the “Great Recession” ITCs suffered financially as they typically are compensated based upon a percentage of assets under management or administration. As assets declined, so did revenue. • Notwithstanding the desire for fee based income, many community banks are reluctant to get involved in trust area and a number that are involved, but have limited assets, are looking for a way out. Wealth management continues to be a major focus for larger organizations – banks, brokerage, insurance, RIAs. • (Note Goldman Sachs proposed acquisition of United Capital Partners ($25B in assets) announced on May 17, 2019.