The process of setting up a private label trust company is fairly streamlined and takes a fraction of the time (and cost) of establishing a separate and distinct, in-house trust company.
What to Expect When Your Firm Establishes Private Label Trust Services
Counsel Trust first performs due diligence of your firm to assure it has the people, processes and track record to provide high-quality investment services. This stage of the process can typically be accomplished via a series of telephone or in-person conferences.
Following this screening and formal acceptance, the new entity is established. The name, branding and marketing of the new firm typically compliments your advisory firm.
After the private label trust entity is established, a data link with your firm’s preferred custodian is set up with SEI, Counsel Trust Company back office operations partner. Counsel Trust Company becomes the underlying legal fiduciary, assuming all regulatory functions, responsibilities and liabilities. The advisor manages trust assets and controls the client relationships.