Member Article

Leeds wealth management firm Pearson Jones wins major 240 trust contract

A contract to manage 240 live trusts on behalf of the UK’s largest will-writing company has been won by Leeds-based wealth management firm, Pearson Jones Plc.

The contract, from the Just Wills Group, East Grinstead, creates initial annual recurring fees of £75k for the Tax and Trust Department at Pearson Jones Plc which also has offices in Sheffield, Bishop Auckland and Reading.

The 240 trusts are mainly family trust arrangements but also include disabled trusts and property trusts.

Winning the contract, which follows a record year for the Tax and Trust Department in 2013, when turnover increased by 13%, will also lead to future distribution fees estimated at £300,000.

Pearson Jones tax and trust departmental manager, Jonathan Lee, says: “This significant contract means that we have increased the number of Trusts we look after by around 20 per cent and follows the 120 trusts which came into the department last year.

“There is generally far greater tax and trust activity as people wish to protect their wealth more carefully following the recession and ensure that assets do not get taxed where it can be legitimately avoided.

“Due to our expertise in this area we are delighted to act as the exclusive trust advisor on all trusts established by the Just Wills Group. Because of our reputation we are significantly expanding in this area. Our professional qualifications ensure that all trusts are managed in line with both HMRC and statutory requirements.”

Just Wills Ltd, which was founded in 1989, incorporates Willcraft, Willmaster, Legal Services UK Ltd Allguard Legal Services Ltd and In Home Legal Services Ltd and has more than 100 national consultants.

Pearson Jones Plc 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 Clare Burnett .