Facts about the Trust

How many consumer-depositors have money in the Trust?

According to the records of the Trust, as of June 30, 2015 (the date the receivership formally ended), there were 7,859 consumer-depositors invested in the Trust. This number changes as distributions are made in connection as a result of funerals. Consumer-depositors are spread throughout Wisconsin. The smallest account had a balance of $20.31; the largest had a balance of $28,370.56.

How many funeral homes have deposits in the Trust?

As of September 14, 2012 (the date the Receiver was first appointed), there were 159 funeral home beneficiaries that had consumer-depositor accounts in the Trust. Several funeral homes had as few as one account. Over 30 funeral homes had more than 100 accounts. One funeral home had 413 accounts with an aggregate balance exceeding $2.4 million.

How much money is in the Trust?

As of June 30, 2015 (the date the receivership formally ended), the Trust’s account statements show an asset balance of approximately $44.3 million. Much of the Trust’s assets are publicly traded securities. A fairly accurate value can be determined for those securities; however, there are several million dollars of private equity funds that can not currently be accessed. It will take some time to determine whether the Trust’s account statements accurately reflect the value of the private equity funds.

Who controls the Trust?

A board and Trustee oversee policy and meet the fiduciary responsibilities of the Trust pursuant to the court-approved Trust Agreement. Edward M. Brady, a former name partner with Komisar Brady & Co., LLP was appointed Trustee of the Trust in June 2015. John P. Devine, president of Milwaukee Capital, Inc., and William R. Walker, retired equity analyst and portfolio manager with Mason Street Advisors, an affiliate of Northwestern Mutual, serve on the Board with Brady. Combined, the board has more than 103 years of experience in finance and investments.

The Trust is administered by Fiduciary Partners, Inc. Ziegler Capital Management, LLC provides advice to the Trustee concerning investment of the Trust’s assets.

 

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