The Private Trust Company (PTC) has surpassed USD1bn in personal trust assets, placing it among the US financial services industry’s 30 largest banking institutions.
PTC is a nationally chartered trust company that provides administrative trust services for individuals and families and specialises in delegating investment management to financial advisors both inside and outside of LPL Financial’s network of financial advisors.
PTC helps financial advisors implement recommended trust strategies and fulfils the succession trust needs of their clients.
LPL Financial is an independent provider of investment brokerage, advisory and custody services.
Bethany Bryant, president of PTC, says: “Our team at PTC has worked hard to develop a trust business that would be highly scalable. PTC’s significant growth in trust assets over the past 18 months is the result of that work and our complementary relationship with LPL Financial’s fast-growing high-net-worth business, our business partners and advisors.”
Andy Kalbaugh, LPL Financial managing director and head of institution services, and chairman of PTC’s board of directors, says: “PTC’s success underscores the tremendous opportunity that LPL Financial has in this market. PTC’s expertise in trust services have enabled LPL Financial to create a consultative platform of wealth management solutions for financial advisors that cater to the needs of high-net-worth investor clients. Moreover, we plan to continue to expand our offering to this audience by leveraging the proven capabilities of our technology. We congratulate our LPL advisors, Bethany Bryant and her team on surpassing the USD1 billion milestone.”
Last year, PTC launched a turnkey Trusteed IRA solution, which enables any financial advisor, regardless of whether he or she is affiliated with LPL Financial, to provide clients who have significant IRA holdings with the ability to self-direct how their IRA assets are distributed to beneficiaries.
