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 March 22, 2010
Advisors Institutional: MFOs Eye Trust Companies

 --Kristen Oliveri

Marshfield, Mass.-based Advisors Institutional Services is seeing an increased interest from multi-family offices, as well as wealth advisors and law firms, to set up private label trust companies in-house. This comes at a time when many firms are looking to provide multiple offerings to clients to prevent them from switching shops, said Jerry Cooper, relationship manager.

Cooper noted that MFOs are particularly interested in setting up trust companies as they can benefit by branding the trust company with the same moniker as the MFO. It would also allow MFO advisors to have a role in the operations of the trust company. "A trust company is so multi-faceted and weaves in so nicely into an MFO's operations," said Cooper.

Additionally, in a trust company, an MFO can also encompass retirement plans and a full spectrum of wealth management activity under a single umbrella, making it easy for clients to have all of their services in one place. That can help clients stay put. "Advisors don't want a client to go to another advisor for other services simply because they fear they'll lose the account," added Cooper.
 
 

You can view the Next News item: Fri May 14, 2010, Mid Atlantic Applies For South Dakota Trust Charter

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