Lee Financial Corporation, a US-based wealth management firm, has implemented National Advisors Trust Company’s (NATC) Trust Representative Office (TRO) program.
As part of the deal, NATC has set up a private-labeled trust services brand called LFC Trust Services.
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Using the new brand, Lee Financial will be able market trust and trustee services for clients.
According to NATC, the TRO program will enable advisors to offer a full range of trust and trustee services to their clients under private-label branding, with administrative services offered by NATC.
Dusty Wallace, director of planning and compliance officer for Lee Financial said: "Importantly, NATC administers only trust services and does not manage our clients’ portfolios, which allows everyone to focus on the client’s objectives and allows for cost efficiency."
Cindy Ralls, vice president of marketing for NATC said: "The TRO program enables independent wealth management firms to attract and retain clients and their assets over generations.
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By GlobalData"Adding private-labeled trust and trustee services without starting their own trust company is an important opportunity for RIAs to build multi-generational relationships and differentiate themselves in their markets," he added.
