Trust Companies Reviewed and Rated

  • Trust companies are typically private corporations, although some operate as divisions of larger financial institutions.
  • They are distinct from banks, which take deposits and invest them.
  • Trust companies hold assets for beneficiaries, such as trusts, pension funds, and corporations.
  • They manage and invest assets on behalf of their beneficiary.

Trust companies are entities that act as custodians for assets. They hold and manage assets on behalf of their clients, and they do the investing for the clients. And, given their fiduciary obligations, they are subject to a number of regulations, including limits on how they can invest.
Trust companies are typically private corporations, although some operate as divisions of larger financial institutions. They may offer many different types of services, including asset management, corporate trust services, real estate management, and stock transfer services.



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Trust Companies: An Overview

A trust company is a financial institution that provides a full range of trust services, including:
Trust administration

Trusteeship

Corporate trust services

Family office services

Trust companies also provide investment management services, such as mutual funds, annuities, and fixed income products.
Trust companies can also manage the administration of estates or represent individuals or organizations as fiduciaries or trustees. Trust companies tend to serve wealthy individuals and institutions.
A trust company may be chartered by a state, as are banks, or chartered by the federal government.

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Corporate Trust Companies

American Trust Company, N.A.: The parent company of 6 trust companies.

Bank of New York Mellon: Offers trust, custody, and asset management services.

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Chase Bank: Offers trust and custody services.

First Republic Bank: A private bank.

J.P. Morgan Chase Bank: Offers trust and custody services.

PNC Bank: Offers trust and custody services.



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Private Trust Company

Private Trust Company, based in San Francisco, California, is a provider of trust services with approximately $1.4 billion in assets under management.
Trust and fiduciary services: Private Trust Company offers trust administration, investment management, trust services, and fiduciary services.

Types of trusts: Although Private Trust Company's website does not list the types of trusts it offers, it does provide limited information on its trust services, which include revocable living trusts, irrevocable trusts, testamentary trusts, family limited partnerships, special needs trusts, charitable lead and remainder trusts, charitable remainder annuity trusts, charitable remainder unitrusts, charitable lead annuity trusts, charitable lead unitrusts, pooled income funds, investment trusts, charitable remainder trusts, and other trusts.

Fees and services: Private Trust Company charges a $100 initial trust fee and $1,000 annual fee (for irrevocable trusts).

Asset under management (AUM): $1.4 billion as of March 2021.

★★★★☆

Family Trust Company

The Family Trust Company, founded in 2014, provides wealth management services, including trust administration, investment management, financial planning, and tax, estate and retirement planning.
The company's services are supported by technology-driven tools, including online account opening, digital account statements, and automated account transfers.
The company offers trust services, including discretionary investment management, for accounts with initial minimums of $100,000 and maximums of $50 million.
Assets under management total $1.6 billion.
The Family Trust Company has received an A+ rating from the Better Business Bureau.