Trust Network Provider Comparison Chart Participating Trustees The Advisory Trust Company of Delaware BOK Financial Comerica Bank & Trust, NA Independent Trust Company of America New York Private Trust Company Reliance Trust Company of Delaware The Advisory Trust Company of Delaware BOK Financial Comerica Bank & Trust, NA The Advisory Trust Company of Delaware works exclusively with you by providing trustee and trust administration services you can offer your high-net-worth clients. You manage the assets in trust. Advisory Trust is part of Wilmington Trust NA. BOK Financial is a $26 billion regional financial services company based in Tulsa, Oklahoma. Advisor trust services are offered through our national bank affiliate, BOKF, NA, which is able to work nationwide with more than 125 trust officers and provide unsurpassed personalized trust services for your clients. Comerica Bank & Trust, NA, a subsidiary of Comerica Incorporated (Comerica), is among the 25 largest U.S. bank holding companies with over $100 billion in trust assets. Comerica is proud to be both a pioneer and a leader in forming strategic alliances with great financial organizations to provide a wide variety of personal trust services. Santa Fe Trust Wilmington Trust Company Personal Trust Services National capabilities Yes Yes Yes None None None Yes Yes Yes Discretionary (delegated) trust services Yes No Yes Investment parameters for discretionary (delegated) trusts Works with you to set the Investment Policy Statement (IPS) and asset allocation; IPS outlines acceptable asset classes N/A Approved managers and models Turnkey asset management providers (TAMPs) allowed Yes Yes Yes, dependent on the account document and IPS Account information accessible on the Web Yes Yes Yes Service agreement between your firm and the trustee Preferred Required Required Service agreement between you and the trustee Required None Not required Trust company location for licensing purposes Delaware Arizona, Colorado, Kansas, New Mexico, Oklahoma, Texas Michigan Minimum annual fee: $3,500 Minimum annual fee: $3,000 Personal trust account minimum Directed trust services Requirements Fees for Directed Trust and Discretionary Trust Services For additional services, please reference the complete fee schedule available from the program provider First $1 million Next $2 million Next $2 million Next $5 million Over $10 million .50% .40% .30% .25% .20% Directed trusts: Minimum annual fee: $3,000 discretionary Minimum annual fee: $5,000 directed First $1 million .65% Next $1 million .57% Next $3 million .50% Next $5 million .40% Next $10 million .30% Over $20 millionAdditional tiered rates apply First $1 million .50% Next $2 million .40% Next $2 million .35% Delaware trusts with a named Direction Advisor will receive a 15% fee discount, except that no discount will be applied to the minimum fee Over $5 million Negotiable Yes, when an ILIT is accompanied by a substantial trust with investable assets; does not support stand-alone ILITs Yes, when accompanied by a trust with investable assets; does not support stand-alone ILITs An ILIT holds one whole life, term or universal life policy at $1,250 Yes, through Wilmington Trust Company, for estates of $5 million and larger We provide full estate administration and settlement services; fees available upon request Yes, fees available upon request Pershing Financial Solutions Primary Contacts: Primary Contact: Primary Contact: Shadia Kirk, Vice President Trust Network Product Manager Phone: (630) 472-6741 E-mail: [email protected] West of the Mississippi River Mike Flinn, Vice President Trust Development Officer Phone: (602) 908-1497 E-mail: [email protected] Rosemary Hueser, Vice President Manager Advisor Trust Services Phone: (888) 957-6678 E-mail: [email protected] Barry D. Babbitt, National Alliance Sales Manager Phone: (313) 222-3397 or (855) 867-9961 E-mail: [email protected] Fee schedules for additional services are available upon request Related Services Irrevocable life insurance trusts (ILITs) Estate administration services Additional policies: $100/additional For additional information, contact Pershing Financial Solutions or program provider directly East of the Mississippi River Jim North, Vice President Trust Development Officer Phone: (480) 980-7260 E-mail: [email protected] Participating Trustees The Advisory Trust Company of Delaware BOK Financial Comerica Bank & Trust, NA Independent Trust Company of America New York Private Trust Company Reliance Trust Company of Delaware Santa Fe Trust Wilmington Trust Company Independent Trust Company of America New York Private Trust Company Reliance Trust Company of Delaware Independent Trust Company of America was founded by Santa Fe Trust, one of the first trust companies to work exclusively with advisors. Independent Trust Company of America continues in the tradition of helping advisors successfully serve trust clients throughout the country with all of the additional benefits of a South Dakota charter. New York Private Trust Company (New York Private Trust) provides a broad range of fiduciary services to individuals, financial organizations and other institutions lacking trust powers throughout the United States. Its Delaware situs allows an individual to create trusts having perpetual duration, asset protection capability, flexibility in financial planning and investment management, and favorable tax treatment. Reliance Trust Company of Delaware (Reliance) is one of the largest independent trust companies in the nation with more than $88 billion in trust assets. Reliance offers integrated trust solutions designed to help you provide clients with industry-leading personal trust services. Yes Yes State charter; authority to serve depends on document and/or local statute No minimum $1 million $350,000 Yes, per document Yes Yes Personal Trust Services National capabilities Personal trust account minimum Directed trust services Discretionary (delegated) trust services Yes Yes Yes Investment parameters for discretionary (delegated) trusts Collaborates with you to set IPS (Investment Policy Statement) then you assume discretion working within IPS You assume full discretionary responsibility unless working with a co-trustee; account to be managed in accordance with an approved IPS Approved managers and models Turnkey asset management providers (TAMPs) allowed Yes Yes Yes Account information accessible on the Web Yes Yes Yes Service agreement between your firm and the trustee Preferred Not required Preferred Service agreement between you and the trustee Required Sub-advisory agreement required Not required Trust company location for licensing purposes South Dakota Delaware Delaware Requirements Fees for Directed Trust and Discretionary Trust Services For additional services, please reference the complete fee schedule available from the program provider Minimum annual fee: $4,000 Minimum annual fee: $4,500 directed Minimum annual fee: $5,500 delegated Directed trusts subject to review starting at .30% Directed trusts: First $5 million .45% Delegated $0 to $3,000,000 .50% - .70% $3,000,001 to $5,000,000 .40% - .60% Over $5,000,000 - negotiable per document review Next $5 million .35% Over $10 million .25% Delegated trusts: First $5 million Next $5 million Over $10 million .55% .40% .30% Minimum annual fee: $3,500 First $2 million .50% Next $3 million .40% Over $5 million .30% Directed trusts receive a 40% discount from the discretionary trust schedule above Related Services Irrevocable life insurance trusts (ILITs) Yes Estate administration services ILITs annual fee is $1,500 (Delaware directed), or $3,000 (other) Yes, the fee is $1,500 per year for one policy plus $250 for each additional policy Yes, $25,000 minimum fee Limited to $500,000 minimum account size and dependant on state jurisdiction reciprocity Yes For additional information, contact Pershing Financial Solutions or program provider directly Pershing Financial Solutions Primary Contact: Primary Contact: Primary Contact: Shadia Kirk, Vice President Trust Network Product Manager Phone: (630) 472-6741 E-mail: [email protected] Andy Crane, National Sales Director Phone: (855) 75TRUST E-mail: [email protected] Kevin J. Batterton, Managing Director Phone: (212) 850-4055 E-mail: [email protected] Rosemary B. Crowley, Vice President Phone: (302) 246-5403 E-mail: [email protected] Secondary Contact: Secondary Contact: Jason Labrum, Relationship Manager Phone: (855) 75TRUST E-mail: [email protected] Richard P. Trumpler, Chief Operating Officer Phone: (212) 850-4015 E-mail: [email protected] Participating Trustees The Advisory Trust Company of Delaware BOK Financial Comerica Bank & Trust, NA Independent Trust Company of America New York Private Trust Company Reliance Trust Company of Delaware Santa Fe Trust Wilmington Trust Company Santa Fe Trust is one of the most advisor-friendly trust companies in the country. Santa Fe Trust works with you to enhance relationships with high-net-worth clients through collaborative alliances that focus on the long term. Contact us today to learn about our new South Dakota charter. Founded in 1903 by T. Coleman du Pont and now a division of M&T Bank, Wilmington Trust Company is recognized as one of the nation’s leading experts in exercising fiduciary judgment in complex family situations. Santa Fe Trust Wilmington Trust Company Personal Trust Services National capabilities State charter; provides services nationally Yes None $10 million Directed trust services Yes Yes, you assume full responsibility Discretionary (delegated) trust services Yes Yes, subject to review Personal trust account minimum Investment parameters for discretionary (delegated) trusts You assume full discretionary responsibility working within IPS unless working with a co-trustee Upon approval by trustee Turnkey asset management providers (TAMPs) allowed Yes Yes Account information accessible on the Web Yes Yes Service agreement between your firm and the trustee Preferred Not required Service agreement between you and the trustee Required Not required Trust company location for licensing purposes New Mexico Delaware Minimum annual fee: $4,000 Minimum annual fee: $8,500 Requirements Fees for Directed Trust and Discretionary Trust Services For additional services, please reference the complete fee schedule available from the program provider Directed trusts subject to review starting at .30% $0 to $3,000,000 .50% - .70% $3,000,000 to $5,000,000 .40% - .60% Over $5,000,000 - negotiable per document review First $1 million .60% Next $4 million .40% Next $5 million .25% Next $10 million .20% Over $20 million Negotiated These fees are for directed trust services only; discretionary trust fees available upon request Related Services Irrevocable life insurance trusts (ILITs) Yes, fees available upon request Yes, when an ILIT is accompanied by a substantial trust with investable assets; does not support stand alone ILITs Estate administration services Yes, fees vary by state Yes, for estates of $5 million and larger; fee schedule available upon request Pershing Financial Solutions Primary Contact: Primary Contact: Shadia Kirk, Vice President Trust Network Product Manager Phone: (630) 472-6741 E-mail: [email protected] Geoffrey Madsen, President Phone: (855) 758-7878 E-mail: [email protected] Kevin A. Jacobs, Vice President Wealth Advisory Services Phone: (302) 427-4812 or (800) 441-7120, ext. 4812 E-mail: [email protected] For additional information, contact Pershing Financial Solutions or program provider directly Pershing LLC is not affiliated with any of the trust companies participating in Trust Network. Pershing LLC makes no representations or warranties of any kind regarding the content hereof or any products described herein, including any warranties, express or implied, as to the accuracy, timeliness, completeness, or suitability of such content or products and will not be liable for any damages (including, without limitation, damages for lost profits) which may arise from the use of any participating trust company’s services. The content contained herein should not be construed as financial advice or a recommendation for the purchase, retention or sale of any product or securities. © 2012 Pershing LLC. Pershing LLC, member FINRA, NYSE, SIPC, is a subsidiary of The Bank of New York Mellon Corporation (BNY Mellon). Trademark(s) belong to their respective owners. For professional use only. Not for distribution to the public. GRID-PER-TNP-12-12
© Copyright 2025 ExpyDoc