Traditional trust companies are being forced to reevaluate their service models and adapt to changing market dynamics. As the wealth management industry continues to expand, advisor-friendly trust companies are well positioned to play an important role in serving complex client needs while supporting the continued growth of the independent advisory channel.
This report addresses the strategic challenges and opportunities facing independent and other advisors, established and emerging trust companies, and vendors. It is based on the author’s professional perspective, interviews with executives at independent and bank-based trust companies and technology vendors, data on banks’ fiduciary business, and data from Datos Insights surveys and the Federal Reserve.
Clients of Datos Insights’ Wealth Management service can download this report.
This report mentions Addepar, Alliance Trust Company, Ameriprise, Baird, Bank of America, Benjamin F. Edwards, BNY Mellon, Charles Schwab, Cetera, Commonwealth Trust Company, Cumberland Trust, D.A. Davidson, Diversified Trust Company, Edward Jones, Fidelity, Fiduciary Trust Company of New England, First Rate, Goldman Sachs, Hightower Advisors, J.P. Morgan, Janney Montgomery Scott, LPL Financial, Lido Advisors, Mellon Financial Corporation, Morgan Stanley, National Advisors Trust Company, Nevada Trust Company, Northern Trust, Pendleton Square Trust, Premier Trust, Raymond James, RBC, South Dakota Trust Company, Stifel, UBS, United States Trust Company of New York (now Bank of America Private Bank), Wells Fargo, and Wilmington Trust.
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