Sanibel-Captiva Trust Company conducts shareholder meeting
The Sanibel Captiva Trust Company held their annual shareholder meeting on March 17 at The Sanctuary Golf Club.
CEO and co-chairman Al Hanser provided a summary of the company’s results in 2009, which included new office suites fronting Palm Ridge Road on Sanibel, an increase of $75 million in assets under management, and the successful launch of their new division, the Naples Trust Company.
“It was a great year we’re proud of what we accomplished,” Hanser told shareholders, directors and clients. “We have a great Board, it’s really a Fortune 500 Board. Dick Botthof and Adria Starkey are doing a wonderful job in Naples, I can’t tell you how pleased we are with them. It’s a beautiful business. Stay tuned.”
Hanser introduced fellow co-chairman Chip Lesch to elucidate the company’s financial position.
Lesch announced that the company reached $414 million in assets under management in the fiscal year ending at the close of 2009; assets under management have grown 26 percent per year over the past five years.
In addition, Lesch noted that Sanibel Captiva Trust Company manages 180 client relationships with an average portfolio size of $2.3 million. Book value grew by 13 percent last year.
Terry Igo, president of the Sanibel Captiva Trust Company, concluded the meeting by detailing the transformation of the company from portfolio management to a family office for private wealth management.
The Trust Company has expanded their services to include all aspects of private wealth management. In addition to portfolio management, the company offers financial planning, estate and trust administration, retirement planning, and generational transfer consultation. Equally important is the ongoing coordination with other professionals important to their clients’ estate, such as their accountant, estate attorney, insurance agent and corporate/business attorney.