Peak Trust Company’s presence in the Trucendent-powered trust account market enables advisor clients to benefit from favorable trust rules in Alaska and Nevada, without having to reside there
CHICAGO, July 29, 2021 / PRNewswire / – Envestnet, Inc. (NYSE: ENV) Announces Peak Trust Company (Peak), an Advisor-Focused Company Offering Personalized Trust Administration for Individuals and Families, Has Joined the Investnet Trust Services Exchange powered by Trucendent as administrator. partner for brokers and registered investment advisers (RIAs). Peak works with over 1,500 estate planners across the country and specializes in managing trusts in accordance with the law in Alaska Where Nevada. These states are considered top trusted jurisdictions because they have no state income tax and allow self-established and perpetual trusts.
“Peak Trust Company has embraced innovation to simplify and unify the estate planning process and put more power in the hands of advisors for effective conversations with clients and their families,” said Jean Yackel, co-founder and CEO of Trucendent. “Every individual and every family should consider an estate plan, but the question is, do you want your most important decisions to be controlled by the state in which you reside or by your estate plan? Advisors can now provide all of their clients, not just the wealthy, with jurisdiction of choice during the estate planning process. I am proud to join Trucendent in order to continue to expand the financial wellness ecosystem of Investnet in this way. “
“Peak Trust Company is committed to helping advisors manage and maintain control over client assets through the use of trusts. We strive to help counselors transfer wealth more efficiently and provide income planning to the families they serve, ”said Matthew Blattmachr, CFP, CFIRS, President and CEO of Peak Trust Company. “As we continue to administer trusts for families across the country, the Envestnet Trust Services Exchange gives us the opportunity to team up with all disciplines of estate planners to create a wide range of trusts – from most favorable way for customers – in all 50 states. . “
Founded in 1997 and based in Anchorage, Alaska, Peak gives financial advisors direct access to the quality trust services they need to manage and maintain control of client assets, while building relationships with their clients’ heirs. Peak’s unbundled service offering allows advisors to select only the services and solutions they need, and its streamlined workflows make it possible to open a trust account in just three days. Peak serves as trustee for trusts totaling more than 8 billion dollars in assets and serves more than 2,500 families residing in all 50 states as well as in foreign countries. For more information, please visit https://www.peaktrust.com/services/.
Clients do not have to live in a trust jurisdiction, leading or otherwise, to establish a trust in that state. Prior to the addition of Peak, the Trucendent-powered Envestnet trust services exchange recently hosted Sterling Trustees, which specializes in administering trusts established in South Dakota, another leading trusted jurisdiction, as a trusted partner. BOK Financial Advisor Trust Services, a nationally chartered, advisor-friendly trust company that is part of BOK Financial, joined the Exchange earlier this year.
“At a time when 68 trillion dollars expected to be passed on from parents to children over the next 25 years, industry study finds only 13% of high net worth investors choose to hire the advisor their parents use, ”said Andrew Stavaridis Group Manager, Solution Distribution at Envestnet. “Our Trust Services Exchange can help advisors retain their heirs as clients during the impending and massive intergenerational transfer of wealth. sophisticated estate planning tools.
Envestnet, Inc. (NYSE: ENV) is transforming the way financial and wellness advice is delivered. Our mission is to empower advisors and financial service providers with innovative technologies, solutions and information to make financial wellness a reality for all. More than 106,000 advisors in more than 5,200 companies, including 17 of the 20 largest US banks, 47 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs and hundreds of FinTech companies , take advantage of the Envestnet platform to develop their activities and customer relationships.
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Trucendent provides a suite of estate planning and trust transfer solutions designed to help advisors connect with the next generation. The company’s offering enables a transparent wealth transfer process that incorporates crucial family information. Trucendent has created a powerful network of leading estate planning lawyers as well as leading, advisor-friendly corporate trustees to effectively manage all types of trust accounts.
In addition to allowing advisors to take advantage of the unique features of a trust account to achieve their clients’ goals, Trucendent engages all parties involved in the wealth transfer process (advisers, lawyers, family members and trustees). ) through a cohesive and collaborative platform that provides a unified and cohesive experience. To learn more about Trucendent, please visit www.trucendent.com.
About Peak Trust Company
Peak Trust Company serves estate planners looking for a professional trustee, who want reliable and accessible expertise to help them with their clients’ complex trust plans. Peak offers the experience and sophistication to help you set up trusts quickly and accurately, backed by easy-to-use trust administration. Unlike traditional banks and trust companies, at Peak your trust is our core business. This allows us to provide a highly personalized delivery process tailored to your specific needs and an unbundled service structure, providing everything you need, but only what you want.
Peak Trust Company, founded in 1997 in Anchorage, Alaska, serves as a national trust trustee, specializing in the administration of trusts in accordance with Alaska Where Nevada law. For more information, please visit www.peaktrust.com.
This version refers to information products or services which may be under development and which are not yet available. Accordingly, nothing in this release should be construed as a representation or legal agreement by Envestnet to make available specific products or services (including, without limitation, concepts, systems or techniques). Envestnet is not a law firm and, as such, does not provide legal or regulatory advice or opinions to any party or client.
Trucendent, Peak and Envestnet are separate, unaffiliated companies. This press release should not be construed as a recommendation or endorsement of any particular product, service or company.
JConnelly for Envestnet & Trucendent
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SOURCE Envestnet, Inc.