Western Pacific Trust Company (WPTC), a small non-deposit
taking trust company based in Vancouver, British Columbia, offers
an attractive and competitive alternative for those seeking a trustee
for self-administered registered plans in the exempt market.
Its first steps in the exempt market space were taken
when the Company identified an under-served market
for issuers wishing to raise capital with the sale of
RRSP eligible securities.
At that time, the focus of the trust company was centred on
its mutual fund dealership subsidiary, which was struggling to
achieve the scale necessary for survival in an arena dominated
by the banks, and by large national dealers consolidating in a
Rather than get swallowed up, WPTC’s private subsidiary
elected to fold up its mutual fund dealership in 2009, and resigned
from the MFDA in good standing. During the two years following its
entrée to the exempt market, it became clear from the enthusiastic
welcome extended to WPTC by an industry which, to date, had very
few choices in trustees for exempt market products, that there was a
clear demand for its services.
For the most part, banks would not accept qualified private
investments into their tax deferred plans, and brokers tended to do
so only on a selective basis for their existing high net worth clients.
This left so few options that issuers were largely confined to
choosing between using one established trustee, or abandoning
the notion of offering RRSP eligible securities entirely.
WPTC committed to focus almost exclusively on its RRSP
plans trustee services, adding self-administered TFSA’s to its
purposely restricted ‘menu’ of self-administered accounts, which
were followed by arm’s length mortgages. This year, WPTC is
adding RIF’s to its range of core products.
Rather than offer an all encompassing range of plans from
the outset, WPTC has chosen to devote its resources to delivering
excellent service, at a very competitive price, for a range of
products which answers the highest demand. Other services will
be rolled out as the Company grows, and as it can guarantee
delivery of uncompromised quality in service.
Gratified by the consistently positive feedback we receive
from all our clients, large and small, we will continue to provide
responsive, knowledgeable service to issuers to facilitate their capital
raising objectives, and to their investors who choose WPTC as their
self-administered account trustee. We assure them of an ongoing
commitment to the highest quality service, offered at affordable rates.
If you have not yet used the services of WPTC, we would like
to hear from you.
For more information contact:
Western Pacific TRUST COMPANY
By Alison Alfer, Vice-President, Operations
Western Pacific Trust Company