Trust Company of America has announced that assets under custody grew to a record $13.2 billion from $11.4 billion in 2013. The growth is due to an increase in new client arrangements and the rapid growth of current RIA clients, according to the firm.

It is the second strongest year in the firm’s 40-year history. The independent RIA custodian says it signed 28 new client arrangements, launched new partnerships and strengthened its service offerings.

TCA made improvements to its technology platform and its practice management and business infrastructure. The firm instituted a Lean Six Sigma practice to make company operations more efficient, and expanded development of RIA-branded apps for clients.

“It has been a phenomenal year and we are proud of the results we have achieved for RIAs and their clients,” said David Barry, CEO of Trust Company of America.  “Our relentless focus on finding new ways to make operations more efficient and effective has led to strong bottom-line results.”