ClearPoint Federal Bank & Trust (“ClearPoint”), an industry leader in providing fiduciary services, investment management, and recordkeeping services to members of the death care industry, celebrates two decades of service this year, marking the company’s 20th anniversary. Originally founded as Forethought Federal Savings Bank on July 29, 1998, ClearPoint is a company that boasts a rich heritage, solid financial strength, deep roots, and a singular focus on the death care industry.
The company’s genesis can be traced to ClearPoint’s former parent, Forethought Financial Services, Inc. (“Forethought”), which was launched in 1985 to provide preneed financial products and services through its subsidiaries. The company initially provided preneed life insurance products, but later expanded its offerings to include trust products and services to meet the unserved needs of funeral and cemetery professionals nationwide.
Over the years, both companies (Forethought Life Insurance Company and Forethought Federal Savings Bank) grew significantly, and came to be recognized as leading providers of various products and services to members of the death care industry. In 2014, Global Atlantic Financial Group acquired Forethought Financial Services and made the decision not to be involved with the funeral and cemetery trust business. This move created a “new” company with new ownership, new energy, new independence, and a new name – ClearPoint Federal Bank & Trust.
ClearPoint started in six states with only a handful of customers, but now serves more than 2,400 funeral home and cemetery locations in 43 states and the District of Columbia. Since its inception, the ClearPoint team has grown, but it has always remained true to its original charter, and stayed dedicated solely to the funeral and cemetery industry. With more than 240 years of combined experience in death care related service, the team offers both financial expertise, and an unwavering passion for serving funeral and cemetery professionals. ClearPoint is proud to provide clients with a team of talented and proactive professionals who are always ready to serve.
“It is such a privilege to be surrounded by so many wonderful team members, customers, and industry professionals who have been an integral part of our success. At this milestone in our history, we want to first recognize and thank our customers for their incredible dedication to serving their client families with care, compassion, and respect,” commented ClearPoint CEO and President, David deGorter. “We are also grateful for our customers’ continued support and for the valuable feedback they have provided us over the years. Additionally, I would like to thank the ClearPoint team for their commitment, professionalism, and passion for building a world class company. The support of our customers and the dedication of our team have shaped who we are today.”
As a forward-thinking company that anticipates its customers’ needs, ClearPoint’s vision for the future is to expand its commitment by offering other financial products and services to members of the death care industry. Today, the company offers Trust and Recordkeeping Services, Investment Management Services, as well as Regulatory and Compliance expertise. The company plans to expand its product portfolio to include additional banking and financial services that are expressly designed for members of the death care industry.
“In the future, I foresee a company that is recognized as ‘The Bank’ for funeral and cemetery businesses. I envision a company that continues to offer an exceptional customer experience, delivers products and services designed to meet our client’s unique needs, and provides technology solutions that help our clients save time and money,” added deGorter.