Trust Services & Financial Planning
Our partner, North Central Trust Company (NCTC) provides
complete Financial Planning, Investment Management, Personal Trust and Financial Services, and
Employee Benefit Plans. Established in 1913 and in continuous
operation since, NCTC is one of the Midwest's leading financial
institutions with over a billion dollars under management.
Financial Planning
Everyone needs to plan for tomorrow. Today's complex financial marketplace
and changing tax laws make it difficult for your to keep up with all the
changes and to understand how these changes may affect you. At every
income level, there are steps you can take to make more efficient use of
your assets and to make sure that your financial future is secure.
Personal financial planning is a process, not a product.
It is an organized, well-planned system encompassing a wide range of
topics and the use of many tools. The process helps you develop strategies
to enhance your financial security and leads to the development and
refinement of a financial plan based on your goals, plans, and
expectations.
A financial plan should include a review of your net
worth, goals and objectives, property and other assets, liabilities, cash
flow, investments, retirement planning, estate planning, tax planning and
insurance needs, as well as a plan for implementing your goals - both
short-term and long-term.
NCTC has qualified financial planners who will guide you through this
process.
Investment Management
NCTC works directly with clients on an individual basis to customize an
investment strategy to ensure compatibility with personal goals,
objectives and risk tolerances. NCTC manages over $1 Billion in assets
using a variety of investment vehicles including individual securities,
trust investment funds, government-backed securities, and no-loan
institutional mutual funds.
In order to produce the desired mix of income and
growth, NCTC practices sound, steady investment strategies while maintaining
the flexibility necessary to accommodate the changing needs of your
investment objectives and the volatility of the market.
You’ll benefit from the services of North Central
Trust in many ways:
Personal Trust and Financial Services
Tax Management and Planning
Services
NCTC assists clients in developing a comprehensive plan to minimize the
impact of estate, gift and generation-skipping taxes. The planning process
includes a thorough review of all relevant financial documents including
wills, trust instruments and insurance policies. It is imperative that all
of these components work together to achieve our client’s objectives.
Custody Services
NCTC provides custodial services for recordkeeping and safekeeping of
securities. These services allow your money to work for you at all times
by collecting dividend interest income and reinvestment of these funds as
soon as they are received. Custody services assist the client with tax
records by providing a comprehensive asset statement detailing account
transactions and income for the current year.
Estate Settlement and Probate
Services
NCTC professionals can function in several different capacities when
dealing with estate settlement and probate cases. The various roles we
assume include trustee, personal representative or agent for personal
representative, and representative for the estate.
Employee Benefit Plans
Initial Plan Design
NCTC works closely with business owners and managers to determine the type
of retirement plan that is best suited for their company. They handle many
different types of tax qualified retirement plans, including Profit
Sharing, 401(k), and Money Purchase Pension. They
examine many factors when recommending a plan including the goals of
management, the needs of the organization and the composition of the
workforce.
Plan Implementation
The success of any retirement plan is dependent upon effective
implementation. NCTC manages all of the steps to implement a retirement
plan. They meet with the company’s employees to explain how the plan
operates, answer any questions and enroll the participants in the plan.
NCTC’s staff also submits the plan to the IRS for approval and can
assist the organization in transferring a plan that is currently in
existence.
Ongoing Administration
NCTC handles all administrative responsibilities for a tax qualified
retirement plan. Including in the service provided are the preparation and
distribution of periodic accounting statements, the maintenance of
participant recordkeeping services, the submission of compliance and tax
reports and presentation of the results to employees. They also provide
personal retirement counseling for individual participants in the plan who
are nearing retirement.
Investment Management
NCTC assists employers and employees with their investment management
decisions. Many retirement plans allow employees to utilize multiple
investment vehicles thus providing each participant the flexibility to
structure an investment portfolio to meet their objectives for growth,
income and risk tolerance. NCTC’s consistent approach and philosophy
have contributed greatly to the long term success of their trust
investment funds.
What is a 401(k) Plan?
A 401(k) Plan is a tax qualified retirement plan in
which participants have an option to defer money into the plan or receive
the same amount as taxable cash compensation. Amounts contributed to the
plan are not taxable to the participant until withdrawn from the plan.
401(k) plans are flexible, cost-effective vehicles that enable employers
and employees to accumulate funds to prepare for retirement.
North Central Trust Company administers, on behalf of
our clients, all three major aspects of a 401(k) plan: plan design,
ongoing plan administration and investment management of plan assets.
In designing a program, NCTC staff works with business
owners and management to determine the retirement plan needs of the
organization, company management and the employees. The 401(k) plan is
then customized to meet these and future needs.
The success of any retirement plan is dependent upon
effective implementation and plan administration. NCTC handles all of the
steps required, including the initial and periodic enrollment meetings,
distribution of periodic accounting and participant statements and the
filing of compliance and tax reports. NCTC also provides personalized
retirement counseling services for 401(k) plan participants.
NCTC assists employers and employees with their
investment decisions. Each participant has a choice of investment vehicles
available in the 401(k) plan thus gaining the flexibility to structure the
investment portfolio to meet individual objectives for growth, income and
risk tolerance. NCTC’s consistent approach and philosophy have
contributed to the long term success of the investment funds.
Click here for link to
North Central Trust Company.
It is important that our clients understand that the
products and services made available through North Central Trust Company
