Premier Trust, a subsidiary of Advisor Group, the nation's largest network of independent wealth management firms, today announced it will expand its business development team and number of trust officers and administrators in response to growing demand for intergenerational asset protection and personal trust services, according to a news release.
The moves will enhance service to the financial advisors from across the wealth management space who are exploring trust services for their clients, the release said.
Premier Trust, the release noted, had a year-over-year record (39%) increase in account originations last year. The company facilitated nine times as many clients in December 2020 than in December 2019, as clients opened 450 new trusts in the last month of the year. The release said the demand was primarily driven by anticipated changes to federal tax codes and shifts in regulatory priorities under the Biden Administration that may affect intergenerational wealth planning.
Mark Dreschler, co-founder, president and CEO of Premier Trust, said their growth as a provider of trust services for wealthy individuals, families and their financial advisors is predicated on a conflict-free approach to find the right solution for each client situation.
“As changes in wealth management regulation and tax policy continue to drive a surge in demand for our services, Premier Trust’s goal is to provide financial advisors and attorneys around the country with the exceptional level of service that established our leadership in this industry over the past 20 years,” he said in a statement.
Advisor Group acquired Premier Trust as part of the company’s acquisition of Ladenburg Thalmann last February.
Advisor Group’s president, products & platforms Matthew Schlueter, said Premier Trust provides incredible value to financial advisors throughout the wealth management space by focusing solely on the administration of trusts, versus competing against financial advisors for asset management or wealth management services.
“Premier Trust, as an advisor-friendly trustee, assists financial professionals to better understand this vital tool as part of their clients’ long-term planning,” Shlueter added in released comments.
The Nevada-based Premier Trust provides independent administrative trustee services to clients across the nation seeking to benefit from Nevada’s favorable trust, corporate, asset protection and tax laws. The company does not manage investments or provide legal advice.
Advisor Group acquired Premier Trust as part of the company’s acquisition of Ladenburg Thalmann last February.