Massachusetts Financial Services is offering a revocable living trust product to banks and other clients.

Smaller banks without trust departments are a target market for the MFS Entrust Wealth Preservation Plan. The Boson-based mutual fund company also expects financial planners to be interested.

MFS requires a $100,000 investment in securities and mutual funds. At least $50.000 must be invested in MFS funds.

In addition to receiving ordinary fees for the sale of funds, banks will receive an additional 10 basis points on assets in the second year, said Walter G. Kenyon, MFS vice president.

A living trust allows an investor to put assets into a special account managed for heirs. Unlike most trusts, however, it becomes effective when the investor is alive.

Entrust is administered by Boston Safe Deposit and Trust Co. The product offers investors three plans, with different levels of personal control. Using models and a packaged sale process allows MFS to offer the product to investors who have less than $200,000 in assets to invest.

That amount would hardly get investors in the door at many trust departments, Mr. Kenyon said. "We are not really trying to go head to head with banks with established trust products."

MFS, which manages $32 billion in assets, has rolled out the program in five northeastern states.

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