America's Most Advisor-Friendly Trust Companies 2024 - 8

2024 AMERICA'S MOST ADVISOR-FRIENDLY TRUST COMPANIES
HOW TRUST COMPANIES HELP
ADVISORS LAND NEW ACCOUNTS
Help transfer trust accounts from
bank trust departments to RIA
custodians
Educate family members that
a professional trustee protects
and preserves assets for future
generations
Coproduce luncheons, seminars
and events to help recruit new
business
Provide marketing support and
materials to prospective clients
to help capture more assets from
client trust accounts
Provide integrated technology that
helps show trust account values
using trust companies' systems
Answer clients' trust
questions via a hotline or
help desk
80%
the beneficiaries. All of the trust's interests
are laid out in legal documents, and one
or more trusts trustees are appointed to
manage the assets. The trustee can be
an individual, but today's best practices
suggest a corporate entity provides the
required services more reliably and more
efficiently.
Trusts fall under two main categories:
1. Revocable Trusts, which maintain the
assets under the ownership of the
grantor, frequently until death.
75%
2. Irrevocable Trusts, which remove the
assets permanently from the grandrot's
control and from the estate.
There are a variety of specialized trusts that
provide additional protection and flexibility,
but most trusts are created to serve the
62%
following financial goals:
* Estate planning
* Asset protection
* Tax reduction
* Probate avoidance
* Charity and philanthropy
* Supporting individuals with special needs
(guardianships and conservatorships)
49%
46%
Historically, corporate trustees have tried to
take over the way trust assets are invested,
effectively capturing those accounts away
from the grantor's existing advisors. A
new wave of trust companies, however,
are satisfied with charging a token fee
for administration and leaving the money
management (as well as the associated
fees) to the professionals. These trust
companies would rather cooperate than
compete, and have, therefore earned the
designation, " advisor friendly. "
36%
GET THE EDGE
Provide trust education
to advisor services
The Wealth Advisor Audience Survey, December 2022
22%
Every advisor needs an edge. Advisors are
all on the hunt for the same wealthy clients,
looking to provide the best perception
of value. Today's wealthy families are not
willing to settle for someone who will simply
manage their portfolios or give them a
template or a financial plant.
The internet is mainstream, and they've
all learned to use it. They know about the
8
America's Most Advisor-Friendly Trust Companies 2024

Table of Contents for the Digital Edition of America's Most Advisor-Friendly Trust Companies 2024
