Genworth Financial Trust Company announced a new program to help independent financial advisors find the trust companies best suited to working with them. Genworth is betting the right partnerships will help advisors keep trust assets that they otherwise would have referred away.
The program, called Trust Connections, introduces advisors to trust companies that specialize in working with clients of independent advisors. These companies provide trust administration and serve as corporate trustee, leaving the advisor to manage the investments. Often, advisors fear that trust companies have designs on taking over investment management of their clients' assets, in addition to serving as trustee.
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