Western Pacific Trust Company

Western Pacific Trust Company

July 22, 2005 17:26 ET

Western Pacific Trust Company: Advisors to Join Financial Planning Subsidiary

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 22, 2005) - Western Pacific Trust Company (TSX VENTURE:WP) is pleased to announce that its wholly owned subsidiary, Futureworth Financial Planners Corp. (FFP) has reached agreement in principle with nine financial advisors for the acquisition of their respective books of business. Each advisor has signed a letter of intent to transfer their mutual fund client books to FFP, concurrently with which the advisors will, subject to regulatory approval, become representatives of FFP.

Upon completion of the transfer of these advisors and their mutual fund business to FFP, the Company's Assets Under Administration (AUA) will be increased by approximately $140 million.

In addition to the aforementioned advisors, one representative transferred his mutual fund business to FFP in June 2005, and another is anticipated to complete the transfer of their business shortly, increasing FFP's AUA by a further combined $8 million.

FFP, an independent mutual fund dealer, continues to seek high calibre financial advisor professionals to join its growing team of financial service professionals.

Victor Lee, President & C.E.O.

This news release was prepared by the Board of Directors which is solely responsible for its contents.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • Western Pacific Trust Company
    Victor Lee
    President & C.E.O.
    (604) 683-0455
    (604) 669-6978 (FAX)