Alliance Pitchbook Presentation 2017 - Home | Comerica · PDF file4 Comerica Trust Fiduciary services including: o Trustee, Co-Trustee or Agent for Trustee o Personal Representative/Executor

Comerica Trust

About Comerica, Inc.

o Comerica Bank - among the top 25 largest U.S. Banks

o Comerica Bank & Trust, N.A. - One of larger trust institutions in the U.S.

o Professional Trustee Alliance services provided by Comerica Bank, Dallas, TX. and Comerica Bank & Trust, N. A., Ann Arbor, MI.

o 21,000+ personal trust accounts*o $21+ billion personal trust assets*o $107+ billion institutional trust assets*

*as of 10/31/15

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About Comerica, Inc.

o Over 100 Years of Fiduciary Historyo Regional Locations

o MI, TX(2), FL, CA(2), DE, MN, NC, CO, NY, TN and AZ

o IL, MO, MA, NJ & WAo Experienced Trust Professionals o Experienced Specialty Support Areas

o Real Estate and Closely Held Businesses

o Estate Settlement, Court Appointed Accounts

o Trust Operations, Trust Systems, Trust Tax

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Comerica Trust

Fiduciary services including:o Trustee, Co-Trustee or Agent for

Trusteeo Personal Representative/Executor o Agent for the Fiduciary of Decedent’s

Estateo Conservator & Guardian of the Estate of

a Legally Incapacitated Persono Trustee of Pension Plans and

Institutional Trust Accounts

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Duties and Responsibilities of a Trustee

o Communication, communication, communication

o A duty of interpretation of the trust document, ongoing education as to the nature of the trust and keeping beneficiaries informed

o A duty of loyalty to the beneficiarieso A duty of impartiality to the beneficiarieso Reporting & complianceo Investment oversighto Enforcing and defending claims against

the trusto Avoidance of conflicts of interests

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o Trust Administrationo Interpreting trust documentso Record keeping & Fiduciary reportingo Distributions and disburse fundso Discretionary actions such as extra

ordinary distributionso Investment management and oversighto Investment objectiveso Special asset administrationo Tax preparation

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A Trustee will provide the following:o Periodic statements issued to grantors,

beneficiaries, financial advisors and money managers

o Periodic statements to grantor’s accountant and attorney (as required)

o Annual trust tax information letters to beneficiaries and accountants

o Annual accountings to the attorney general (if required by state law)

o Court accountings (as required)o Internet access (as desired)o Performance reporting may be provided by

our Alliance Partner or Comericao ERISA reporting

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Investment oversight is a critical component of trust administration, and one in which Comerica is actively engaged. As Trustee, we will:

o Carry out our responsibilities in accordance with the Prudent Investor Act and applicable state law

o Provide fiduciary advice on asset allocation

o Approve investment manager selectiono Review investment manager performanceo Administer non-financial assets, including

real estate, oil, gas, and mineral interestso Ensure compliance with all of the terms of

the trust document o Work with Co-Trustees

A trustee’s key responsibilities surrounding distributions include:

o Calculating the amount of distributions per trust to beneficiarieso Maintaining accurate records of principal and income transactionso Determining whether to approve discretionary distributionso Maintaining impartiality in the decision making processo Reviewing and approving billings for attorney, accountants and investment

advisoro Implementing the intent of the trust maker and terms of the trust to protect

beneficiaries and to carry out the terms of the trust protecting the assets and implementing the tax savings strategies of the trust maker

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A corporate trustee such as Comerica has additional continuing standards to assure compliance and financial integrity.

o Reporting according to exacting standards

o Continuous self testingo Internal Comerica auditso External accountant auditso Alliance partner due diligenceo Office of the Comptroller of Currency,

State Regulators and the Federal Reserve Bank regulatory oversight

In our official capacity of Personal Representative/Executor, we will:

o Collect and inventory all of your client’s assets (mutual funds, insurance policies, CDs, oil and gas properties, real estate, partnerships, stocks and bonds, personal brokerage accounts, retirement accounts, etc.)

o Determine your client’s community property allocations (if applicable)o Assume responsibility for the review of investments and safekeeping of your

client’s estate during probateo Coordinate the investment program and liquidity requirements with our Partnero Calculate, file and pay applicable federal estate inheritance and fiduciary

income taxeso Distribute your client’s assets to his or her beneficiaries in accordance with

their Will, and fund applicable trustso Work with attorneys and accountants to review and implement post-mortem

tax-planning strategies

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Comerica as Personal Representative/Executor

In addition to a full menu of personal trust services, the alliance allows you to offer trust services to your institutional client as well. Whether a corporation, union, nonprofit or public entity, we are able to serve your client in the following capacities:

o Corporate Trusteeo Custodiano Agento ERISA Trustee

Other services:o Master trust plan accountingo Pension benefits payment serviceso Consolidated reportingo Online access to statements for participantso Consulting

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Serving Your Institutional Client

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We are available to act as Custodian for:o Corporate investment accountso Hospitals/healthcare organizationso Insurance companieso Foundations/endowmentso Taft-Hartley fundso Public fundso Other organizations that require a bank

custodian

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Investment Oversighto Pre acceptance approvalo Quarterly review and reportingo At least annual due diligenceo Tracking of purchases and saleso Annual investment reviews o Annual plan in placeo Reconcilements of all positions

o Enables the Financial Advisor to gather new assetso Assets remain, when possible, with our Alliance Partner as the sub-custodiano Provides clients with professional trust administration and investment services,

seamlessly integrated in an efficient, service-driven trust modelo Combines the administrative know-how of Comerica with the investment

expertise and breadth of our Alliance Partnero Encourages our Partner Financial Advisor to stay involved after Comerica

assumes trusteeship, thereby preserving and enhancing the client relationship and retaining assets

o Provides critical component in offering family-focused, multigenerational wealth management, which clients increasingly expect

o Provides an open-architecture solution to proprietary offerings

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Advantages of the Comerica Alliance

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Our Commitment to Our Alliance Partners and Clients

o Interpret trust document(s)o Duty of loyalty to the beneficiarieso Enforce and defend claims against

the trusto Duty of impartiality to beneficiarieso Duty to keep parties informedo Duty of confidentialityo Duty to make assets productive

o Select sub-custodians (as custodian)o Maintain insurance coverage as requiredo Assure accounting principles are appliedo Maintain compliance with principal and

income act for the applicable state lawo Maintain strict audit and due diligence

programso Maintain asset review for quality, diversity

and adherence to investment objectives

Dominick Alfano, Trust Specialist55 Madison Ave., Suite 400 Morristown, NJ 07960 Ph: 973.285.3182 Fax: 973.285.3181 Cell: 415.246.7171 [email protected]

James Adkins, Trust Specialist411 W. Lafayette, 2nd FloorDetroit, MI 48226 Ph: 313.222.9888 Fax: 313.222.3842 Cell: 248.739.0967 [email protected]

Gary Ehle, Trust Specialist100 Federal St., 28th FloorBoston, MA 02110 Ph: 617.757.6352 Fax: 617.757.6351 Cell: 860.205.5419 [email protected]

Richard Holmes, Trust Specialist3200 E. Camelback Road, Suite 150Phoenix, AZ 85018Ph: 602.333.7460 Fax: 602.333.7498 Cell: 623.824.9722 [email protected]

Michael Selikoff, Trust Specialist230 Park Ave., Ste 634 New York, NY 10169 Ph: 646.823.1899 Fax: 646.823.1917 Cell: 203.247.4900 [email protected]

Scott Glazer, Trust Specialist1675 North Military, 6th FloorBoca Raton, FL 33486 Ph: 561.961.6631 Fax: 561.961.6633 Cell: 954.295.9077 [email protected]

Fletcher Haaga, Trust Specialist Forum III Building 1770 Kirby Parkway, Ste. 116Memphis, TN 38138 Ph: 901.759.2221 Fax: 901.759.2230 Cell: 901.848.6734 [email protected]

Terry Lindsey, Trust Specialist8850 Boedeker St., 5th. FloorDallas, TX 75225 Ph: 214.890.5120 Fax: 214.890.5162 Cell: 214.415.5338 [email protected]

Polly Magoun, Trust SpecialistTwo Mid American Plaza, Suite 616Oakbrook Terrace, IL 60181Cell: 630.903.4311Fax: [email protected]

John Mack, Trust Specialist130 S. Franklin Rocky Mount, NC 27804 Cell: 302.547.4661 Fax: 843.236.2852 [email protected]

Thomas A. Morgan, Trust Specialist2 Embarcadero Center, Ste.300San Francisco, CA 94111Ph: 415.477.3221Cell: 415 [email protected]

John Scally, Trust Specialist1770 Kirby Parkway, Ste. 116 Memphis, TN 38138 Cell: 314.283.8820 Fax: 314.645.5774 [email protected]

Paul Bushard, Trust Specialist350 Tenth Ave., Ste. 700 San Diego, CA 92101-8706 Ph: 619-652-5723 Fax: 619-652-5721 Cell: 619-204-1009 [email protected]

Paula Jurcenko, National Sales Manager 411 W. Lafayette, 2nd Floor Detroit, MI 48226 Ph: 313.222.6326 Fax: 313.222.3842 Cell: [email protected]

Dale R. Ebejer, Alliance Product Analyst 411 W. Lafayette, 2nd Floor Detroit, MI 48226 Ph: 313.222.1230 Fax: 313.222.3842 Cell: 586.549.8979 [email protected]

Comerica Bank & Trust, National Association is a subsidiary of Comerica Incorporated. Comerica Bank & Trust N.A.’s strategic alliance partners are neither subsidiaries nor affiliates of Comerica Incorporated. Securities and other non.deposit investment products are not FDIC insured; are not deposits or obligations of, or guaranteed by Comerica or any of its affiliates; and involve risk, including possible loss of principal. Past performance is not indicative of future results.

Comerica Bank & Trust, N.A. and its affiliates do not provide tax or legal advice. Please consult with your advisors regarding your particular situation.

Alliance Sales Toll Free Help Line 1.855.867.9961

Comerica Bank and Trust, N.A. Specialist Contact List

2017

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Prospecting For Trust Clients

Client Profile Questions to Ask Response Action Steps*

Transferring Existing Trusts Clients with trusts at other trust

companies or banks Clients who are current or

remainder beneficiaries of trusts at other trust companies or banks

Do you have a personal trust account at another trust company or bank?

Are you the beneficiary of a personal trust at another trust company or bank?

Are you satisfied with the services provided by the current trustee?

Do you have a trust officer dedicated to you, or do you dial a call center?

Are you satisfied with the range of available investment options and performance?

Are you interested in hearing about some of the investment choices and services that we offer that other trust companies or banks might not?

Would you like to hear about how I can continue to manage your assets in a manner consistent with your financial plan through our Alliance with Comerica?

May I introduce you to a member of my virtual team of professionals who specializes in trust administration?

Ask your client for a copy of the: Will or trust document Trust statement or asset list With client permission, forward

will/trust and statement/asset list to your Comerica Trust Specialist or Trust Advisor for review

Offer to introduce your client to your Comerica Trust Specialist or Trust Advisor

Revocable Living Trusts Clients who would like to have

assistance managing their assets and administering their trusts or are concerned about disability

Would you like help with the day-to-day investment and administrative responsibilities associated with your trust?

Did you know Comerica could pay your bills for you?

Comerica is a professional trustee Comerica may be able to act as

trustee for your trust and perform all administrative duties, such as:

Bill paying Tax return filing Record maintaining

Ask your client for a copy of their: Will or trust document Trust statement or asset list With client permission, forward


Irrevocable Trusts Clients who are currently trustee

of: An irrevocable trust A surviving spouse’s marital or

credit shelter trust A family member or friend’s trust

for a surviving spouse or children

Would you like help administering the trust? (Examples: trust-specific accounting and reporting, filing taxes, investment oversight, compliance with fiduciary laws, dealing with beneficiaries)

Are you concerned about personal liability for acting as trustee?

Comerica may be able to act as your agent, taking care of all those issues while protecting you from criticism.

You retain complete control You do not pay for the services

(the trust does)



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Executor or Personal Representative or Agent for Executor or Personal Representative

Clients who have a spouse, other family member, or friend who may have recently died and your client has been appointed as the legal representative, executor, or Personal Representative, to settle the decedent’s estate

Would your client like help and assistance with the administrative responsibilities and duties associated with settling an estate?

Did you know Comerica could also provide guidance in both valuing and distributing the estate?

Comerica may be able to act as an agent for the executor or personal representative to help settle the estate and will at the direction of your client and perform all of the duties and responsibilities of settling the estate including taxes and distributions



Charitable Trusts or Donor-Advised Funds Clients who:

Have large concentrations or low-cost basis securities and would consider selling them to diversify but are concerned about capital gains tax

Could use more income Could benefit from charitable tax

deductions Are charitably inclined

How much income do you currently receive from your highly appreciated stock position?

Do you have a large position in a stock that you would like to diversify?

Did you know that you could possibly earn an income tax deduction from an asset deposited into a charitable remainder trust (living trust only)?

Comerica may be able to develop a strategy with a charitable remainder trust that may:

Increase your income stream Possibly provide an income tax

deduction Increase diversification Avoid or postpone capital gains tax

on your appreciated assets

Call your Comerica Trust Specialist or Trust Advisor for an evaluation of your client’s situation

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Special Needs Trusts Clients with a Special Needs Trust at

another trust company or bank Clients with a special needs child or

family member Clients who anticipate a significant

settlement related to a personal injury lawsuit

Is your client satisfied with the special needs services provided by the current trustee?

Do you and your client know about the special needs services offered by Comerica?

Is your client satisfied with the range of available investment options and performance?

Are you interested in hearing about some of the investment choices and services that we offer that other trust companies or banks might not offer?

Would you like to hear about how I can continue to manage your assets in a manner consistent with your financial plan through our Alliance with Comerica?

May I introduce you to a member of my virtual team of professionals who specialize in special needs trust administration?

For an existing special needs trust, ask your client for a copy of their:

Will or trust document Trust statement or asset list With client permission, forward will/trust

and statement/asset list to your Comerica Trust Specialist or Trust Advisor for review

For a client doing estate planning with a special needs child, either contact your Comerica Trust Specialist or obtain a copy of our Special Needs Trust brochure to answer any questions your client may have about this very sensitive situation

Estate Planning Future or Successor Trustees Clients who have named a successor

trustee other than Comerica in their will or trust

Clients who are in the estate planning process and looking for a potential successor corporate trustee, executor, or personal representative

Who have you named as trustee or successor trustee in your will or trust?

Is the named trustee or successor trustee aware of the duties and responsibilities involved in being a trustee?

Do you have confidence that the named trustee will follow your written instructions objectively, even in times of emotional turmoil?

Comerica may be able to act as trustee, co-trustee, or successor trustee for you

It doesn’t cost anything to name a trust company as future trustee

Clients may be able to change this designation at any time

Comerica Trust fees start only when we begin to serve

A corporate trustee won’t become ill, get divorced or remarried, move away, or be distracted by personal concerns or emotions

Call your Comerica Trust Specialist or Trust Advisor for an evaluation of your client’s situation

Ask your client for a copy of their: Will or trust document Trust statement or asset list With client permission, forward will/trust

and statement/asset list to your Comerica Trust Specialist or Trust Advisor for review

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Legacy Trusts Sometimes referred to as Dynasty trusts Clients with significant wealth Clients concerned about preserving

wealth for multiple future generations

Do you want to leave a lasting legacy for your family and/or community?

Have you considered wealth strategies that may keep your estate intact for the future generations of your family?

Have your children achieved financial success that would allow you to financially skip their generation?

Would you like to learn about strategies that could potentially minimize your taxable estate and maximize growth of assets over multiple generations?

Contact your Comerica Trust Specialist or Trust Advisor for an evaluation of your client’s situation

Asset Protection Trusts Clients with potential personal liability

issues Clients looking to protect a portion of their

assets against future unknown events

Have you considered an asset protection strategy to safeguard your wealth and family?

How have you insulated your personal assets from your potential liabilities (both business and personal)?

Planning techniques may involve establishing an irrevocable trust in certain states that have Asset Protection laws, such as Delaware, as a means to protect future generations

Contact your Comerica Trust Specialist or Trust Advisor for an evaluation of your client’s situation

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Comerica Bank & Trust N.A. - Facts

Comerica Incorporated and its subsidiaries provide both Institutional Trust andPersonal Trust Services with both a nationally chartered bank, Comerica Bank &Trust, N.A., headquartered in Ann Arbor, MI, and a Texas chartered bank, ComericaBank, headquartered in Dallas, TX. Collectively, Comerica provides trust andcustody services to over 25,000 Personal and Institutional Trust client accounts withassets in excess of $122 billion.

Comerica established its Alliance Partner trust business model in 1994, and todayhas more than 12,000 advisor related accounts with assets in excess of $14 billion.In addition to the 90 trust professionals dedicated specifically to the Alliancebusiness, Comerica's Trust Alliance Group is able to leverage the services andresources of over 250 additional trust, investment, and operational professionals toeffectively serve the needs of our Alliance Partners and their clients.

How Comerica's Trust Alliance Works

Comerica's Trust Alliance Group Resources • Speciality Asset Management • Irrevocable Life Insurance Trust Administration• Nationwide Estate Settlement (7 locations nationally) • Special Needs Trust Administration • Nationwide Trust Real Estate Services (4 locations nationally) • Closely Held Business Management

Comerica's Trust Alliance OfficesWith full fiduciary and custodial services as allowed under Treasury Regulation 9 inall 50 States, Comerica Bank & Trust, N.A. assists Financial Advisors in thetransition of new account opportunities, and provides the support of accountadministration for Financial Advisors and their clients.

Full Fiduciary And Custodial Services• Trustee, Co-Trustee or Agent for Trustee• Personal Representative/Executor or Agent for the Fiduciary of Decedent’s

Estate• Trustee of Charitable Trusts, Foundations, CRUT, CRATS & CLATS• Conservator & Guardian of the Estate of a Legally Incapacitated Person

• Delaware Directed Trusts• Special Needs Trusts • Irrevocable Life Insurance Trusts• Blind Trusts

• Rabbi Trusts• Custody Accounts• Institutional Trust Accounts,

Escrow Accounts & Pension Plans

• New York, NY• Wilmington, DE• Rocky Mount, NC • Boca Raton, FL

• Detroit, MI • Minneapolis, MN • Memphis, TN• Houston, TX • Dallas, TX

• Denver, CO • Phoenix, AZ• San Diego, CA• El Segundo, CA

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Comerica Bank and Trust, N.A. Alliance New Account Acceptance Process Timeline

Factors That May Cause Delays

1. Incomplete paperwork2. AML or Patriot Act identification

issues


1. Beneficiaries uncooperative in returning documentation

2. Inability to contact all of the beneficiaries


1. Incomplete trust Documents2. Statement is not complete or

current

TEA & Trust Specialist prepare New Account Acceptance Paperwork and secure account acceptance approval

7 – 28 days

FA and Trust Specialist secure, Beneficiary Information, copies of 3

years Trust Tax Returns, W-9 Forms and other pertinent account data

7 – 28 days

FA secures and delivers, Trust Documents and current Annual

Statement from current Trustee for review, to the Trust Specialist

3 – 5 days

Review Documentation Data & Information Gathering Account Approval

The account acceptance process leads to the account opening process which requires a completed and approved new account acceptance package. The actual process of establishing accounts, establishing the investment program and physical

transfer of the assets from the prior trustee may take an additional four to six weeks.

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So Why Comerica?

o An experienced professional Alliance focused trustee

o Who understand broker and bank cultural variances

o Capability to act in all 50 states

o Connectivity sub-custody systems are developed

o 90 experienced alliance professionals

o National coverage with regional offices

o Both Personal and Institutional Trust capabilities

Comerica Bank & Trust, National Association is a subsidiary of Comerica Incorporated. Comerica Bank & Trust N.A.’s strategic alliance partners are neither subsidiaries nor affiliates of Comerica Incorporated. Securities and other non-deposit investment products are not FDIC insured; are not deposits or obligations of, or guaranteed by Comerica or any of its affiliates; and involve risk, including possible loss of principal. Past performance is not indicative of future results.

Comerica Bank & Trust, N.A. and its affiliates do not provide tax or legal advice. Please consult with your advisors regarding your particular situation.

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Disclosure