Genworth Financial Trust Co. on Tuesday announced the launch of Trust Connections, a program designed to help independent advisors grow their businesses by giving them access to three trust companies that specialize in serving clients of independent advisors.

The three companies available through Genworth Financial Trust are Advisory Trust Co. of Delaware, Reliance Trust Co. of Delaware and Wealth Advisory Trust Co. of South Dakota. These services providers provide trust administration and can serve as a corporate trustee while allowing the advisor to manage investments and retain the primary relationship with clients.

"We evaluated about 20 different trust companies, and these are the three that we felt really understand the activities performed by advisors and their clients," said Brad Wheeler, president of Genworth Financial Trust Co., in a phone interview with AdvisorOne. "Traditionally, banks serve trust clients by acting as the trustee, but bank trust departments are not always the best financial advisors."

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.