What type of account is the trust department least likely to accept as new business?

The trust department is least likely to accept collective investment funds as new business primarily because these funds are typically managed by investment companies rather than trust departments. Collective investment funds allow multiple investors to pool their resources into a single investment vehicle, which requires regulatory compliance and a different operational structure than what a trust department usually handles. Trust departments generally focus on administering individual trusts, corporate trusts, and employee benefit trusts, which align more closely with the fiduciary responsibilities and services they provide.

In contrast, personal trusts involve managing individual estates, corporate trusts often relate to managing funds for corporations, and employee benefit trusts are specific to managing employee retirement or benefit plans. These types of accounts directly align with the core competencies of trust departments, making them more likely to accept as new business compared to the collective investment funds.