Perspecta Trust, the New Hampshire-based trust and wealth management firm, saw its fiduciary assets under supervision cross the $1 billion mark at the end of October, representing a fourfold increase from 2010, and has expanded its management team with three hires.

The firm attributed a large part of the rise in assets to changes made in the state's trust system over the past seven years, which have made the area more attractive to investors. Since 2006, the number of chartered trust firms in New Hampshire has doubled, the company said in a statement.

"Many high net worth families find our business model attractive and it is a direct complement to the improvements that have taken place in the state's trust laws in the recent years," said Paul Montrone, chairman of Perspecta Trust. 

Of note is the increasing number of high net worth families wanting to create a wealth transfer strategy in light of the favorable federal tax treatment of gifts, added Scott Baker, principal of the firm, which may change later this month. In light of this, many families are reaching out to professional advisors to take advantage of the current situation, he said. 

In related news, the firm has made three appointments to its management team, bringing in Elizabeth Collins, Anthony Annino and Janet Seekell.  

Collins is now a trust officer working with HNW clients. She previously worked at Fidelity Personal Trust Company and US Trust. Meanwhile, Annino has been appointed as an investment analyst, responsible for investment research and portfolio construction. He used to work for Cambridge Trust. Completing the hires, Seekell is now a trust administator responsible for the administration of the firm's client accounts and trust operations. She previously worked for MFS Investment Management and JP Morgan.

Perspecta Trust works both directly with families and third-party advisors.