Revzon's Institutional Services is America's trust company specialist serving wealth managers, broker/dealers, law firms, mutual fund companies and pooled fund firms.
As trust company specialists, Revzon will help your firm charter its own trust institution -- and thus attract high net worth clients, and serve as trustee in nearly all 50 states. In the process you are able to attain and project financial institution stature which inspires greater client confidence.
By owning your own trust company you gain: firmer control of your accounts, new opportunity to attract bigger accounts, greater wealth protection under powerful asset protection laws, and with no corporate or state income taxes.
Why should a wealth manager set up a trust company?
You have worked hard developing relationships with your clients and helping them create their wealth. But now as your clients enter their retirement years and beyond, you risk being left out of the equation. Estate planning lawyers often influence their clients to place their assets at trust companies they have comfortable relationships with. If you're a wealth manager without an option to offer the estate planning attorney, chances are sooner or later your assets will wind up at a competitive firm.
Here are some of the benefits for wealth managers:
Why should a broker/dealer set up a trust company?
For the broker dealer it is advisable that you offer your brokers and your wealth managers alike the ability to keep their business in-house and on the same team. Thus owning your own trust company can be an essential part of your total financial strategy. Here are some of the benefits:
What some broker / dealers say about owning their own trust companies:
"When we established Raymond James' Trust Company 15 years ago it was the smartest single investment and strategy our firm had ever made."
- Raymond James Company, Member NYSE
"For any brokerage firm that doesn't have its own trust company it's going to be increasingly more difficult to meet the needs of investors in the next 15 years. It is for this reason that we set up a private trust company in 2003."
- LPL Financial, Independent Broker Dealer
"It would be foolish to think that we could compete with our peers such as American Express, CitiBank and Wachovia for affluent clients without owning and operating our own trust company."
- Merrill Lynch and Co., New York
Why should a pension service provider or TPA set up its own trust company?
The answer is service. As a third-party administrator or pension service company administrator, it is important to be able to provide your clients a one-stop solution for account handling. Third-party administrators now own their own trust companies as a way of assuring that the accounts will remain in-house.
Here are the important benefits to consider for TPAs and pension service company providers:
Why should a law firm set up a trust company?
In the U.S. today there are several hundred law firms that own their own trust companies. As a will and estate planning specialist, it makes perfect sense to create a perfect synergy between you and your client by assuring that the trust that you set up for your client will be executed with perfect precision through your own trust company.
For the law firm here are the important benefits to consider for setting up your own trust company:
Why should a mutual fund / pooled asset firms set up a trust company?
The reason that Eaton Vance, Fidelity, and Franklin Templeton own their own trust companies is to ensure that the assets do not leave the firm. As an umbrella mutual fund provider it is important to provide all the solutions needed in order to maintain ERISA accounts and other forms of accounts that will require trust company intermediation. This requirement extends to pooled investments such as GIC funds, collective investment funds, etc.
Therefore, for the mutual fund / pooled asset firms here are the important benefits to consider for owning a trust company:
Seven Key Reasons Why a Trust is Best
As an additional aid, we can also support you with an on-demand, web accessible trust accounting system.
Key Benefits of a Trust Company
Why South Dakota is the best state by far for owning a trust company
While we feel there is a definite advantage to South Dakota we also work with Trust Companies in Nevada, Washington, New Mexico, Minnesota, Mississippi and Delaware. The final choice of which state to obtain a charter from is determined by many factors.
Revzon Consulting offers you total consulting assistance to help you complete the licensing process. Plus, we can provide full middle office and back office support including:
What You Can Expect
With the experienced guidance of Revzon professionals, you can generally be up and running with your advisor-owned trust company within six months, depending on your particular circumstances.
Coastline Trust Company
Robert Gaumont / Chief Investment Officer
SerVus Consulting Group, Inc.
John Kluttz / President
Thomson Reuters ONESOURCE Trust Tax
Art Ridolfi / Executive Sales Manager
Choate, Hall & Stewart
Peter Quigley / Trust Operations Manager