America's Most Advisor-Friendly Trust Companies 2024 - 6

2024 AMERICA'S MOST ADVISOR-FRIENDLY TRUST COMPANIES
Assets in trust are stickier. Under ideal
conditions, they can remain under
an advisory firm's supervision for
generations or even perpetuity.
A trust is not mortal. There are no
heirs to fire the previous generation's
advisors and take the money
elsewhere. There are only beneficiaries
passively cashing checks.
A trust enjoys certain intrinsic tax
benefits as long as state and federal
governments resist the urge to meddle
with the details. We can't make
any guarantees that these benefits
will remain open as the winds in
Washington shift.
Trusts are all about continuity. They're
how you and your clients lock in
the good times between crises. If
you haven't made them part of your
practice yet, there's still time. But the
alarm has already sounded. Taxes
have bottomed. The conversations
need to happen now.
THE TIPPING POINT
After years of alternating disruption
and uncertainty, a lot of money needs
to get moving again. We're all older.
Advisors are closer to retirement.
The clients we serve are closer to
transferring their wealth to the next
generation.
Many delayed important and
irrevocable decisions while the
pandemic raged, opting instead to wait
" until life calmed down. " But investment
markets remained volatile and the
political landscape remained fractious,
stretching what was initially a prudent
pause into an extended paralysis.
At this point, it's clear that life is
not going to calm down. Change is
constant and any wish for a return to
an easy and predictable status quo
is unlikely to be granted. Meanwhile,
decisions still need to happen.
Urgency is overwhelming caution.
That's an opportunity for advisors who
want to capture stalled assets from
competitors. It's also a threat to those
who waited too long to have essential
planning conversations.
Leading trust companies with the
resources to take on new business
can write their own ticket. Those who
want to work with advisors for the long
term are often the true elite. They don't
need to capture the assets, dump
the person who referred them and roll
everything into proprietary products.
All they need is the trust administration
fees. They're thriving on their own. As
outside financial professionals bring
KEY FACTORS IN CHOOSING TRUST COMPANIES
SERVICE QUALITY
AND EXPERTISE
CLIENT-CENTRIC
CONCERNS
COST
CONSIDERATIONS
LONG-TERM
RELIABILITY
TECHNOLOGICAL AND
OPERATIONAL EFFICIENCY
ASSURANCES
AND TRUST
COLLABORATIVE
OPPORTUNITIES
133%
110%
107%
93%
72%
52%
48%
6
America's Most Advisor-Friendly Trust Companies 2024

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