provided to Santiva Chronicle
Al Hanser, Founder and Chairman of The Sanibel Captiva Trust Company welcomed shareholders, board members, advisory board members and employees to the holding company’s 20th Annual SanCap Group Inc. Shareholders Meeting held by teleconference for the first time since its inception. Changes were made to the type of gathering for the well-being of all participants due to COVID-19 protocols.
Hanser opened with the company’s mottos: “Always do the right thing” and “Clients come first.” He also reassured callers by saying, “The Coronavirus has changed everyone’s lives overnight, but The Trust Company will be just fine. Our only concern is for the health and safety of our clients and employees.”
He went on to introduce the names of three new board members making the total 14, which include Jeff Powers of Sanibel Island, FL, James Watrous of Belleair, FL and Charles Ketteman of Sanibel, FL, a past board member who has been re-elected to serve another term. Sanibel Captiva Trust Company’s recently retired president Richard Pyle was also elected as a board member emeritus in appreciation for his wisdom and contributions throughout his tenure at the company.
“Along with our expanding client base, The Trust Company team is growing as well,” said Hanser. “We’ve added 11 truly talented new professionals over the last 18 months bringing the total to 43 across Tampa Bay, Sanibel and Naples.” He went on to thank each market’s advisory board whose members serve as ambassadors in the community and advisors to that market’s trust company team.
Hanser also discussed an in-depth strategic planning effort that took place at The Trust Company over 2019-2020. Client survey results helped direct the future of the company’s path, and updated Mission, Vision and Values were accepted representing the state of the company and today’s stakeholders.
CEO, Terry Igo presented on the financials of The Trust Company highlighting key points:
The net profit goal for 2019 was set at $4.7 million when the actual net profit came in at $5.5 million. This represented a 32% annualized increase over the past consecutive five years.
The fee revenue goal was set at $17,754,000 and the actual came in at $18,538,000 representing a 14% annualized increase over the last consecutive five years.
The goal for Assets Under Management (AUM) was set to increase by $175 million, but surpassed that by increasing by $262 million, a 34% increase from 2018. This also equated to a 14% annualized increase in AUM over the last consecutive five years. AUM was approximately $2.5 billion at the end of 2019.
$300 million in new business from existing and new clients in 2019 accounted for much of the increase, growing the average account size from $4 million to $6 million.
Igo went on to say, “The health of The Trust Company is robust. Even if we experience a prolonged downward turn in the economy due to our present circumstances, we feel confident that The Trust Company will produce a net profit in 2020.” He added, “Our confidence level in the future remains strong and even in this environment, we are continuing to follow through with our plans by adding key employees that will be a benefit through this situation, and continue to serve clients for years to come.” He then asked Chief Investment Officer, Ian Breusch to expound on the economy and our investment philosophy and process.
Breusch reported on the volatile capital markets. “The S & P 500 is down 24% year-to-date yet Trust Company portfolios held up better than average compared to many funds and ETFs,” he explained. He emphasized how the portfolio management team is evaluating each client’s situation and identifying opportunities for clients in this environment. He also touched on the importance of staying calm and seeing this event through to the other side. “Our investment philosophy plans ahead for these uncomfortable times in the market, keeping income-producing portfolios relatively steady and allowing clients to continue their lives uninterrupted,” said Breusch.
The Trust Company team is available to assist you. Visit sancapgroupinc.com to reach an advisor in Sanibel, Naples or Tampa Bay.
The Sanibel Captiva Trust Company is an independent trust company with $2.5 billion in assets under management that provides family office and wealth management services, including investment management, trust administration and financial counsel to high net worth individuals, families, businesses, foundations and endowments. Founded in 2001 as a state-chartered independent trust company, the firm is focused on wealth management services that are absolute-return oriented and performance driven. Each portfolio is separately managed and customized specifically to the client’s yield and cash-flow requirements. The Naples Trust Company and The Tampa Bay Trust Company are divisions of The Sanibel Captiva Trust Company. Offices in Sanibel-Captiva, Naples, Tampa, Belleair Bluffs-Clearwater and Tarpon Springs. http://www.sancaptrustco.com