Member Article

Prudence creates record year for Pearson Jones Trust department

A 13% turnover increase made 2013 a record year for the Tax and Trust Department at Leeds-based wealth management company, Pearson Jones Plc.

A total of 120 new trusts came to the ten-strong department, which operates nationally, helping generate an £883,000 turnover, the greatest since the department started in 2000.

Most of the trusts handled by the department, which operates out of all Pearson Jones offices, are family trusts to protect assets while others include healthcare trusts for the benefit of staff at large national companies.

Pearson Jones tax and trust departmental manager, Jonathan Lee, said: “We’re hoping to sign a major agreement this spring which will bring a further 200 trusts to the department.

“The main reason for the increase in business has been individuals wishing to protect their wealth more carefully and ensure that assets do not get taxed where it can be avoided.

“External referrals have also increased as we are continually adding further Society of Trust and Estate Practitioners (STEP) qualified individuals to make us one of the key tax and trust teams in the north. There has also been an increase in deaths which means that we receive recurring fees.”

Pearson Jones Plc, which also has offices in Sheffield, Bishop Auckland and Reading, also offers pensions and employee benefits and is among fewer than 600 IFA businesses in the UK to be accredited Chartered Financial Planners by the Chartered Insurance Institute.

This was posted in Bdaily's Members' News section by Graham Vincent .