Sterling Trustees Joins Envestnet Trust Services Exchange
- South Dakota-Based Trust Administrator’s Services are Available to RIAs & Broker-Dealers Through Trucendent-Powered Trust Account Marketplace
Envestnet, announces that Sterling Trustees has joined the Envestnet Trust Services Exchange, powered by Trucendent, to provide its suite of South Dakota trust administration services as an embedded offering to Registered Investment Advisers (RIAs) and broker-dealers.
The Envestnet Trust Services Exchange is the only advisor-centric solution which supports the entire wealth transfer process through the use of trust accounts. The Exchange integrates advice creation, documentation, goal setting, account implementation, and trustee services within a single platform, while also leveraging a powerful third-party estate planning attorney network. Envestnet launched the Exchange in partnership with Trucendent , a provider of wealth transfer planning solutions designed to help advisors cultivate and grow relationships with the next generation.
“South Dakota offers many favorable trust and tax laws, and easy access to an independent trustee specializing in South Dakota trusts is vital for allowing advisors and broker-dealers to take advantage of these benefits for clients,” said John Scarpato, President, and Co-Founder of Trucendent. “Expanding the selection of independent corporate trustees on the Envestnet Trust Services Exchange gives advisors more tools and expertise for planning the transfer of wealth for clients and fostering relationships with their clients’ children and grandchildren during the process.”
Sioux Falls, S.D.-based Sterling Trustees serves as an independent corporate trustee for high-net-worth families around the world. South Dakota enables trust assets to grow free of state income tax and capital gains tax and permits trusts with an unlimited duration—giving beneficiaries ongoing protection from creditors and ex-spouses in perpetuity. Under South Dakota law, family members and their professional advisors can also fulfill traditional trustee roles through directed or delegated trusts. Sterling Trustees serves as an unbiased partner helping attorneys and advisors create, transfer, and manage South Dakota trusts.
“Our mission is to help advisors maintain control of client assets through the use of trusts as they pass to children and grandchildren,” said Antony Joffe, President of Sterling Trustees. “Our representation on the Envestnet Trust Services Exchange allows more advisors to ensure clients’ family legacies continue as intended under their watchful eyes and increase the likelihood of managing those growing assets for the next generation.”
In addition, the Envestnet Trust Services Exchange has been integrated with Envestnet MoneyGuide, Envestnet Tamarac, and other offerings across the Envestnet ecosystem. This integration enables advisors to seamlessly incorporate trust account management capabilities into the platforms and workflows currently driving their practices.
“We continue to build and enhance our financial wellness network so advisors can seamlessly create The Intelligent Financial Life for clients and their families,” said Andrew Stavaridis, Executive Group Head, Solutions Distribution at Envestnet. “The presence of advisor-friendly trust companies on the Envestnet Trust Services Exchange gives advisors the power to expand the definition of advice they can deliver and take the initiative to easily manage the transfer of clients’ assets to future generations.”