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Beginners Guide To Picking an Advisor Friendly Trust Company

Many clients manage or create trusts annually with millions of financial advisors. Unfortunately, you probably don’t know how to find a trusted company that puts you first and lets you work with your desired advisor. However, they do exist.

These companies serve as delegated trusts that allow advisors to work on their client’s behalf regarding asset management. They focus on providing services with their clients in mind and providing exceptional customer service. They act as their clients’ financial support staff. Here is how to tell if a trusted company is advisor friendly.

Many Wealth Advisors Use Them

Many wealth advisors already use the critical sign of an advisor friendly trust company. The company will also:

  • Work with estate planners and wealth managers
  • Hold trusts with millions or hundreds of millions of dollars
  • Help advisors work with their clients to make serious decisions about their finances

They Have an Accessible Profile

Most trust firms have a quickly accessible PDF or webpage that lets you know about their services, benefits, value offerings, and competitive differentiators. Both advisors and their clients should be able to access this information efficiently. Sometimes, your advisor may need to help you find their profile, but you should have access to it once you know where to look.

If you feel that you or your advisor cannot access the information quickly enough, they might not fit your needs best. Instead, it is better to keep looking for a company with a quick and easy-to-access profile page.

They Offer a Digital Dashboard

One key factor that many companies are trending towards is a digital dashboard. These dashboards make it easy for advisors and clients to communicate and work together on trust. In addition, you should be able to access and update your dashboard whenever convenient. You should also make sure that your dashboard is user-friendly. Not having a digital dashboard can mean that the company is not advisor friendly and that it will be inconvenient to work with that firm.

They Receive Regular Media Coverage

Positive media coverage is a great way to ensure that the company you are working with is credible. For example, suppose the trust firm has a monthly media release highlighting its positive work. In that case, they are more likely to be a reliable firm than those that don’t have any media coverage. Media coverage can include press releases, news stories, event promotion, manager interviews and other articles.

They Are Listed in Respected Guides

Estate planners and financial advisors often download respected guides to help clients decide which trust company they want to work with. With the information provided in these guides, clients should be able to make informed decisions about the best company for their needs. They also give clients enough information to decide whether a firm is trustworthy enough to handle their assets.

If you are considering using an advisor-directed trust, use this guide to help pick a company that fits your needs. Otherwise, you could waste your time with a company that is not the best fit for your financial situation.