Mass. Loses Trust of Rich By Greg Turner Boston Herald, April 5, 2011 Trust companies are cropping up like tax-free liquor stores in southern New Hampshire as wealthy families from Massachusetts and other states make a run for the border with their personal assets. The estate-planning industry has grown steadily since New Hampshire set out five years ago to create the most attractive trust laws of the land, drawing well-paying white-collar jobs and boosting overall business activity, experts say. Read the full article.
With No One Looking, Fidelity Chief Moves Family Firm, Riches By Greg Turner Boston Herald, April 4, 2011 A clandestine company that manages billions for Fidelity Investments chief Ned Johnson and his family has quietly pulled up stakes from Boston’s Financial District, leaving the Bay State behind for New Hampshire and its beneficial trust and tax laws, the Herald has learned. Crosby Advisors’ relocation of more than 100 workers to new offices in Salem, N.H., last fall — marking a major migration of Boston wealth over the border — went virtually unnoticed except among informed company insiders. Read the full article.