NASHVILLE, Tenn. – Nashville-based trust company Cumberland Trust, which provides diversified and comprehensive administration services for an array of personal trusts and estates for clients across the U.S., has been in a high-growth phase, recently surpassing more than $3.3 billion in client assets under administration. An area that has helped to drive this growth is Cumberland's achievement in building a nationally recognized practice in Special Needs Trusts (SNT), an area where the beneficiaries are typically individuals with intellectual and developmental disabilities.
"There is growing need for servicing Special Needs Trusts and often larger banks pass on this type of relationship which requires high-quality, customized service and close engagement," said Joseph K. Presley, Chairman, President & CEO of Cumberland Trust. "We are proud to work with Special Needs Trusts and help clients with these diverse and important needs."
Under the leadership of Jaclyn K. Berry since 2006, the Cumberland Trust SNT team has grown to serve more than 250 families in 38 states.
Most recently, the SNT team added Erin Richardson as a trust administrator. In addition to Berry, she joins Chase Himes, Charlotte English, Christine Davis, Lorena O. Suarez, Jay Moharami, and Daisy Bernet.
Prior to joining Cumberland Trust, Richardson co-founded the Special Education Advocacy Center (SEAC), a Nashville non-profit that provides education advocacy support and services to families of children and young adults with disabilities. She also served as the organization's executive director until 2017.
"Erin is a fantastic addition to our team and will help us continue to expand our reach, providing more SNT beneficiaries and their families with stable support they need for a more comfortable life," added Berry.
While many large companies don't have the flexibility to properly manage the hands-on, nurturing work that goes into SNTs, Cumberland Trust has a dedicated team that is committed to this kind of trust administration. The Cumberland team is focused on families as opposed to investment management, giving them the opportunity to excel in both traditional and special needs trust administration. This has played a major part in its continued exponential growth and has uniquely positioned it to partner with wealth and estate planning advisors in meeting the needs of their clients.
For more information on SNTs, click here.
About Cumberland Trust
Headquartered in Nashville, Tennessee, Cumberland Trust is a trust services firm founded in 2001 to focus on families. As a trusted advisor, at Cumberland Trust we work with our clients' accountants, estate planning attorneys, financial advisors and others to ensure that each family's needs are met and that their values extend across generations. We achieve that with a team of individuals at Cumberland Trust who are the very best in the personal trust industry. From dealing with blended families, aging adults, special needs, or other modern dynamics, we have the experience to help clients and their advisors through difficult scenarios towards the goal of continued legacy.