We have a uniquely deep knowledge of what it takes to undertake the task of forming a trust company or department, and getting it to sustainable profitability.
The members of our team have in their careers formed trust companies and trust departments, been executive leaders of state and national trust organizations and participated in mergers and sales of trust companies and trust departments. We have a uniquely deep knowledge of what it takes to undertake the task of forming a trust company or department and getting the trust company or department to sustainable profitability. We can apply that knowledge and experience to get your trust formation project moving to conclusion promptly and greatly minimize the wasted money, wasted talent and wasted time that normally occurs in a complex project such as forming a trust company.
Pre Application Planning
The purpose of Pre-Application Planning is to select the jurisdiction from which to obtain a trust charter and then to develop a detailed business plan We will conduct a formal evaluation of the situs options (national charter or your home state or a “trust friendly” state such as South Dakota, Nevada, Delaware, etc) as the choice impacts your strategy and your pro forma profit and loss. As part of this process information will be gathered regarding actual costs and commitments needed for a chartered trust company in each jurisdiction considered. Based upon the information gathered we will advise you on whether to proceed and, if so, in which jurisdiction.
Application Assistance includes the process of applying for and working with the chosen jurisdiction to obtain the trust charter.
Development of Infrastructure
When you have successfully completed the trust charter application the real work begins! We can help in all aspects of the work needed to get the Trust Company operational and accelerate its path to profitability.
This would include establishing and monitoring the sucessful completion of the numerous regulatory compliance protocols necessary as well as many other elements of launching a successful business, such as sales and marketing, staff development, strategic planning and many other vital elements.
This service provided by Wealth Management Compliance Alliance©, a division of Pohl Consulting and Training, Inc.