LCMS Foundation reduces fees for custodial accounts

For Immediate Release

Contact:

Blake M. Tilley; Senior Vice-President Marketing; The LCMS Foundation | 314-996-1681 | blake.tilley@lfnd.org

David Yow; Director, Public Relations; The Lutheran Church—Missouri Synod | 314-996-1236 | david.yow@lcms.org

LCMS Foundation reduces fees for custodial accounts

New online account access unveiled

ST. LOUIS, Nov. 13, 2014 — The Lutheran Church—Missouri Synod (LCMS) Foundation has announced a reduction in its custodial account pricing schedule, a move that positively affects hundreds of LCMS ministries holding investment assets with the Foundation.

Effective Oct. 1, fees to manage custodial accounts are:

• 0.55 percent annually on the first $1 million in balances;
• 0.45 percent annually on the next $9 million; and
• 0.35 percent annually on balances over $10 million.

This is not only a decrease in the rates charged, but the lower fees are also applied sooner to accounts carrying even lower balances than under the previous schedule.

“Our customers, a wide range of LCMS organizations, rely on us to do our best to protect and grow their assets,” said Foundation President David Fiedler. “With the Lord’s blessing, we have been very successful in this area, and so it is truly a great thing for us to be able to return even more of these financial resources to these ministries we serve for their work in the expansion of the Kingdom.”

This is the first of several additional improvements the Foundation is rolling out to clients. For instance, custodial account holders can now access account balances, portfolio information and transaction records via the Internet.

“These steps show our commitment to make the world-class investment resources offered by the Foundation even more valuable to the organizations we serve today,” said Mark Cannon, the Foundation’s chief financial officer. “Working with the Foundation offers LCMS groups unequalled access to investment expertise. We are eager to expand our services to the Church, again all to the glory of God and for the benefit of the effort to share Christ and His love.”

The Foundation named Ralph Simon as vice-president of investment services to work in this area. Simon is responsible for developing relationships with LCMS congregations and ministries, showing them ways the Foundation can help manage and grow their ministry resources.

“Ralph brings a long history of working in the church and a great deal of experience in financial services and investments,” Cannon said. “His role will be to help the churches, schools and [Recognized Service Organizations] of the Synod identify and develop long-term, sustainable funding sources.”

The Foundation is delighted to serve as a partner to LCMS organizations in helping to ensure the financial strength of the church. For more information, please contact:

• Ralph Simon, ralph.simon@lfnd.org, 314-996-1056
• Mark Cannon, mark.cannon@lfnd.org, 314-996-1462
• David Fiedler, david.fiedler@lfnd.org, 314-996-1450

Find additional information about these changes on the Foundation’s website at lcmsfoundation.org.

About The Lutheran Church—Missouri Synod
The Lutheran Church—Missouri Synod is a biblical, confessional, witness-oriented Christian denomination with 2.2 million members — 600,000 households — in 6,200 congregations. Through acts of witness and mercy, the church carries out its mission worldwide to make known the love of Jesus Christ. Learn more at lcms.org.

About The Lutheran Church—Missouri Synod (LCMS) Foundation
Established in 1958, The Lutheran Church—Missouri Synod Foundation is the Synod’s primary financial organization, providing Lutheran donors with charitable expertise and opportunities to ensure that families are provided for and beloved ministries are supported. The foundation also manages financial instruments and the gifts they represent, entrusted to it by congregations, organizations and individuals. As of fiscal year 2014, the foundation had more than $966 million of assets and generated more than $62 million in new funds for 508 LCMS ministries. For more information, visit lcmsfoundation.org.