Trust planning and administration continues to be an essential component of wealth planning for affluent individuals and families. Asset managers, financial advisors, insurance professionals, and family offices without access to progressive trust powers operate at a significant disadvantage when competing in the marketplace with large bank-based trust companies. In addition, such advisors are clearly at risk of losing significant assets as wealthy clients pass away and assets flow out of their estate and into trust accounts managed by trust companies that insist upon managing assets.

“Surveys of affluent families across the country consistently indicated that this demographic has grown weary of the inflexibility, turnover, and exorbitant fees associated with institutional bank based trust departments.”