National Advisors Trust Adds Three New RIA Shareholders Seeking Personalized, Flexible Trust Services
Trusts that hold alternative and non-standard assets, ability to be named trustee, closer client relationships, personalized approach, and multi-generation asset management meet RIAs needs.
Overland Park, KS (October 11, 2011) – National Advisors Trust, the nation’s largest independent, RIA-owned trust company, today announced that three new shareholders have joined the trust company to provide clients with amplified trust services.
The new shareholders include: Halliday Financial headquartered in Glen Head, NY; Pinnacle Wealth Planning Services, Inc., headquartered in Mansfield, OH; and Greystone Wealth Advisors, headquartered in Mount Kisco, NY.
According to Ronald G. Ferguson, CEO of National Advisors Trust, the model combining a local, client-centric RIA with a national trust company that provides cost effective trust administration services, is flying in stark comparison to other trust services options on the market today. Trust services offered to end clients by big bank trust companies are becoming increasingly restricted, requiring high minimums and lacking a personalized approach. Community banks are also restricted by limited budgets for acquiring the type of investment management staff normally found in wealth management companies like Halliday, Pinnacle and Greystone.
“Clearly, being principally owned by RIAs, we understand the RIAs’ need to be able to offer personalized trust services and a wide range of trust options, including trusts that can hold non-standard assets,” stated Ferguson. “RIAs want to be named in trust documents as the investment advisor so they can honor clients’ requests to continue managing client assets when assets pass to family members. That kind of continuity and high-touch service can only be achieved by working with a non-competitive trust partner like National Advisors Trust. We see this trend growing, and expect it to continue in the coming decade.”
Pinnacle Wealth Planning Services needed trust services that could handle alternative and non-standard assets, ability to be named trustee, and advisor-friendly options to support its business model.
“A high percentage of our clients utilize trusts,” stated William D. Heichel, Chairman and Senior Planner of Pinnacle. “In recent years, some trust companies have changed course and restrict their trustee services to only those trusts with 100% liquid assets. We handle a large number of trusts, and few if any of our clients have only liquid assets. We had to find another solution that would allow us to serve our clients’ needs for trusts and enable us to maintain the close relationships we’ve developed with our clients over the years. Only National Advisors Trust met our needs. We also like that with National Advisors Trust we have options for the future. We were surprised at the extensive capability of their software, and in the future we may look at implementing their technology and custody services.”
Greystone Wealth Advisors needed flexible trust services, the ability to be trustee, and the added security of a trust company.
“As our trust business increased over the years, working with trust companies became less appealing because we could not be named trustee and larger trust companies were becoming more inflexible,” said Timothy Clark, Founder and Managing Member of Greystone. “We have a high touch business and having the ability to offer trust services is very important, allowing us to maintain a closer relationship with our clients. As a trust representative, our clients are assured we will be able to continue managing their assets, per their wishes, in collaboration with their families after they are gone. Before becoming a shareholder, we moved some of our trust business to National Advisors Trust to test the waters. It gave us a better feel for their services and the ability of their technology. The service was great and we were very pleased, so we became a shareholder. In addition, the relationship with National Advisors Trust provides an added level of comfort for our clients.”
Halliday Financial needed broader trust options with fewer restrictions, and a way to maintain close relationships with clients through trusts.
“We joined National Advisors Trust because of the ability to expand trust services with a broader range of trust options and fewer restrictions,” said Sean Mohammadi of Halliday Financial. “We have an increased need for trusts; however, trust companies are trending toward an amount of qualified assets that are restrictive, and their call center approach is antithetical to the kind of personalized service we provide and our clients expect. We looked at a full range of options – forming our own trust company, obtaining trust services from custodians, trust companies and banks. National Advisors Trust met all our requirements and more.”
“The addition of these three esteemed RIAs exemplifies the strong need and interest of RIA firms serving high net worth clients to offer a solid trust solution,” added Ferguson. “Each came to National Advisors Trust with similar but different trust needs and we are able to accommodate all of them.”
About Pinnacle Wealth Planning ServicesFounded in 1998, Pinnacle Wealth Management Services is a fee-only wealth management services firm providing comprehensive services to affluent clients. Pinnacle’s services include: three wealth management programs with varying levels of service to accommodate clients’ personal and financial goals; financial planning services with basic and comprehensive options; investment advisory services; and Personal Planning Quarterback Services. Pinnacle also offers Client Referral Programs for CPAs and attorneys to service the financial planning needs of their high net worth clients. Headquartered in Mansfield, OH, Pinnacle has additional office locations in Medina and Dublin, OH. For more information about Pinnacle, visit www.pinnacleadvisors.com.
About Greystone Wealth AdvisorsGreystone Wealth Advisors LLC is a wealth management firm providing independent, financial advisory solutions to individuals, small businesses, trusts and endowments. Greystone’s investment philosophy is to provide clients with broadly diversified, well-researched investment portfolios that deliver an institutional quality investment experience. In support of its investment philosophy, the firm provides a range of wealth management and financial planning services. Wealth management services include access to high quality investments through well diversified investment portfolios customized and managed for each client based on their specific goals. Financial planning services are comprehensive in nature and are tailored to address each client’s individual needs. Services may include portfolio management, estate planning review, cash flow analysis, retirement planning, insurance needs, education funding, business succession strategies and charitable giving. Headquartered in Mount Kisco, NY, the firm has an additional office located in New York, NY. For more information on Greystone, visit www.greystonewealth.com.
About Halliday Financial Halliday Financial is an independent financial services firm providing a full spectrum of financial tools and solutions that help clients identify goals, manage risk, solve problems, and achieve financial success. Founded in 1982, Halliday has forged enduring relationships by working closely with clients as their personal Chief Financial Officer, delivering a wide range of customized solutions and personalized service. Halliday consists of three specialized entities: TSA Portfolio Management, Inc., Registered Investment Advisor division; HRC Investment Services, Inc., independent broker-dealer and member of FINRA; and Halliday Life and Health, Inc., insurance services. Halliday’s holistic approach and team of expert, independent advisors deliver cohesive investment strategies uniquely designed to achieve each client’s financial life goals. Headquartered in Glen Head, NY, the company also has offices in Cooperstown and Albany, NY. For more information about Halliday, visit www.hallidayfinancial.com.
About National Advisors TrustNational Advisors Trust Company, FSB, is a federally chartered trust company with assets of more than $7 billion. Founded in 2001, it is the largest independent, RIA-owned trust company in the nation, and is authorized to do business in all 50 states. The company provides a broad range of trust and custody services uniquely designed and positioned for clients of an RIA, including; an advanced, multi-custodian investment management platform, trust accounting services, referral marketing programs, trust education programs, practice management programs, economies of scale, and other related services to advance the success of participating RIA firms and their clients. National Advisors Trust is a “trust only” organization focused on trust and custody services for RIA firms and is not involved in lending and depository banking functions. For more information on National Advisors Trust, visit www.nationaladvisorstrust.com.
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National Advisors Trust