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CORPORATE & INSTITUTIONAL

Collective Fund Services

For Retirement Plan Advisors

Why should your clients consider Collective Investment Trusts (CITs)?

Research & Insights

Collective Investment Trusts and Good Governance Considerations

Benefits for advisors, consultants and plan sponsors
Read Article >
In The News

CITs Fit Well With Best Interest Service

A new white paper published by Wilmington Trust documents the dramatic ongoing expansion of the U.S. collective investment trust (CIT) marketplace.
Read Article >
In The News

New Advisor Resources Highlight Key CIT 401k Advantages

New thought leadership content provides advisor-focused insight on collective investment trusts
Read Article >
In The News

Wilmington Trust and Nasdaq Partner on CIT Awareness

Investors, plan sponsors and advisers will be able to search for collective investment trust (CIT) data on the Nasdaq Fund Network (NFN) using new tickers.
Read Article >

What are Collective Investment Trusts (CITs)?

CITs are tax-exempt, pooled investment vehicles sponsored and maintained by a trustee bank or trust company. CITs combine assets from eligible investors into a single investment portfolio (or fund) for purposes of pursuing a set of stated investment objectives and strategies.,

LHS exhibit Cerulli Associates, The Cerulli Report U.S. Defined Contribution Distribution 2020: Adapting to Changes in the Regulatory Environment
RHS exhibit Cerulli Associates, The Cerulli Report U.S. Retirement Markets 2020: exploring Opportunities in the Small Plan Market
Cerulli Report

Why consider a collective investment trust?

  • Expense structure: In general, CITs have lower administrative, marketing, and distribution costs versus mutual funds with similar strategies.
  • Tax advantage: CITs are tax-exempt. As a result, the trustee generally is able to make investment decisions without tax considerations
  • Fiduciary responsibilities: By selecting a CIT the plan sponsor is relieved from fiduciary responsibility for the day-to-day investment management decision made on behalf of the CIT and remains responsible only for prudently overseeing and monitoring the CIT and its trustee.
CIT Figure 2

 

Why Wilmington Trust?

Wilmington Trust, N.A. is a leader in the collective investment trust market with over $116.8 billion in collective investment fund assets, across funds managed by 42 subadvisors, and maintains trading agreements with 49 platforms that access more than 200 record-keepers as of March 31, 2022.

In 2019, Wilmington Trust proudly partnered with Nasdaq Fund Network, marking the first time that investors could access information on these low-cost investment vehicles via a standardized ticker. Read the full press release celebrating the partnership.

CIT Figure 3

Wilmington Trust, N.A. Collective Investment Funds (“WTNA Funds”) are bank collective investment funds; they are not mutual funds. Wilmington Trust, N.A. serves as the Trustee of the Wilmington Trust Collective Investment Trust and maintains ultimate fiduciary authority over the management of, and investments made in, the WTNA Funds. The WTNA Funds and units therein are exempt from registration under the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended. Investments in the WTNA Funds are not deposits or obligations of or guaranteed by Wilmington Trust, and are not insured by the FDIC, the Federal Reserve, or any other governmental agency. The WTNA Funds are commingled investment vehicles, and as such, the values of the underlying investments will rise and fall according to market activity; it is possible to lose money by investing in the WTNA Funds. Participation in Collective Investment Trust Funds is limited primarily to qualified retirement plans and certain state or local government plans and is not available to IRAs, health and welfare plans and certain Keogh (H.R. 10) plans. Collective Investment Trust Funds may be suitable investments for participants seeking to construct a well-diversified retirement savings program. Investors should consider the investment objectives, risks, charges and expenses of any pooled investment company carefully before investing. The Additional Fund Information and Principal Risk Definitions (PRD) contains this and other information about a Collective Investment Trust Fund and is available at www.wilmingtontrust.com/PrincipalRiskDefinitions or ask for a copy by contacting Wilmington Trust, N.A. at (866)427-6885.

Wilmington Trust is not affiliated with either MFS or the Retirement Law Group

There is no assurance that any investment strategy will be successful.

Contact our CIT sales team

Robert Barnett's Image
Robert Barnett
Executive Vice President, Head of Retirement Services

Robert Barnett
Executive Vice President, Head of Retirement Services

As Executive Vice President, and Institutional Business Line Leader for Retirement and Institutional Custody Services, Rob leads the Intermediary Sales team and is the product leader for the Collective Investment Trust business. He is responsible for building and managing enterprise level relationships and strategic alliances that create opportunities to broaden the business and service offering.

He has over twenty years of industry experience, with more than half of those spent with Wilmington Trust.

Rob holds a bachelor’s degree in finance from Washington State University.

Contact Information
Rodney Square North
1100 North Market Street
Wilmington, DE 19890
Phone | 360.904.6945
rbarnett@wilmingtontrust.com

Expertise In

  • Collective investment fund management
  • Retirement plan services

Joe Donovan's Image
Joe Donovan
Senior Vice President, Senior Retirement Services Sales Representative

Joe Donovan
Senior Vice President, Senior Retirement Services Sales Representative

Joe is a Senior Sales Trust Representative for the Institutional Retirement Services Division of Wilmington Trust. He works to grow collective investment trust (CIT) business nationwide as an investment vehicle for defined contribution 401(k) plans. He provides support to defined contribution financial advisors, record keepers, and sub-advisor sales teams.

Prior to joining Wilmington Trust, Joe was a regional sales director at Victory Capital for over 10 years, where he supported defined contribution financial advisors on both active and passive management, mutual funds, CITs, and exchange-traded funds. Earlier in his career, he held various positions at Prudential Financial, SSgA, and Putnam Investments.

Joe holds a bachelor’s degree in political science from Westfield State University.

Contact Information

280 Congress St., Suite 1300
Boston, MA 02210
Phone | 203.623.0292
jdonovan@wilmingtontrust.com

Expertise In

  • Collective investment fund management
  • Retirement plan services
  • Passive and active investments

Val C. Ferrara's Image
Val C. Ferrara
Senior Vice President, Senior Retirement Services Sales Representative

Val C. Ferrara
Senior Vice President, Senior Retirement Services Sales Representative

Val is a Senior Retirement Sales Representative for the Institutional RetirementServices Division of Wilmington Trust. She is responsible for sales relationship management of Collective Investment Trust Funds to financial advisors, sub-advisors, and recordkeeping partners focused on defined contribution plans.

She has more than 17 years of industry experience including 12 of those years in the defined contribution business. Prior to joining Wilmington Trust in 2015, Val was a Defined Contribution Associate at BlackRock® supporting advisors and recordkeepers. She also served as liaison between Broker-Dealer (BD) home office relationships confirming BlackRock®’s products were available. Prior to this role, she supported National Sales for iShares in 401(k) with Barclay’s Global Investors. Val began her career at Merrill Lynch serving as a financial advisor.

Val earned a Bachelors of Science degree in Finance from Siena College. In 2019 & 2020, she served on the board of the Women in Pension Network, Director of Regional Chapters. She has also served as co-President to the Women Initiative Network at M&T Bank, Metro NY Chapter in 2017 and 2018. The National Association of Plan Advisors (NAPA) named Ms. Ferrara as a Top 10 ‘wing(wo)man’ in the industry in 2017 & 2018.

Contact Information

Cell | 516.445.0225
vferrara@wilmingtontrust.com

Specializing In

  • Collective investment fund management
  • Retirement plan services
  • Passive and active investments 

Justin Newberry's Image
Justin Newberry
Vice President, Senior Retirement Services Sales Representative

Justin Newberry
Vice President, Senior Retirement Services Sales Representative

Justin is a Internal Retirement Services Sales Representative for the Institutional Retirement Services Division of Wilmington Trust. In this role he is responsible for the continued growth of Collective Investments Trust (CIT) business nationwide. He helps support financial advisors with a Defined Contribution focus, sub-advisors, recordkeeping partners, and the Senior Sales Trust team.

Prior to joining Wilmington Trust, Justin was a Senior Corporate Consultant with CSC, a global company providing corporate and legal solutions. For nine years Justin helped large Fortune 500 companies identify ways to mitigate risk, reduce cost, and create workflow efficiencies through a comprehensive discovery process. He also served as a trusted mentor and coach for new and existing employees.

Contact Information
Rodney Square North
1100 North Market Street
9th Floor
Wilmington, DE 19890
Phone | 302.651.1455
rnewberry@wilmingtontrust.com

Specializing In

  • Collective investment fund management
  • Retirement plan services
  • Passive and active investments

Julie Wimer's Image
Julie Wimer
Senior Vice President, Institutional Business Line Leader

Julie Wimer
Senior Vice President, Institutional Business Line Leader

Julie is the Institutional Business Line Leader for Retirement and Institutional Custody Services.  She is the product manager for the Collective Investment Trust business as well as relationship manager for the sub-advisor relationships..

Julie joined Wilmington Trust in 2021, specializing in product and relationship management.   During her entire career, she has focused on the Defined Contribution (DC) Marketplace.  She served as Managing Director at AllianceBernstein responsible for the business development of the firm’s US DC business.  She was a Vice President at OppenheimerFunds where she was responsible for product management and marketing and spent time at Prudential Investments in both DC operations and product development.

Julie holds a bachelor of science degree in Business Management from Ithaca College.

Contact Information

99 Wood Avenue South
Iselin, NJ 08830
Phone | 908.392.7801
jwimer@wilmingtontrust.com

Specializing In

  • Collective Investment Trusts
  • Retirement Plan Services
  • Investment Management

How can we help?

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