Home » Healthy Finance » Trust Companies In Florida – The Ultimate Guide

Trust Companies In Florida – The Ultimate Guide

4 people in a meeting

Trust Companies in Florida benefit from the fact that Florida has no separate estate tax. 

What Is A Trust Company?

A trust company is a separate corporate entity that has the purpose to manage trusts, trust funds and estates for others. Another name is corporate trustee. These institutions are commonly owned by a bank or other financial institutions. In some cases they are also owned by a law firm, or independent partnership

Why Do People Choose Trust Companies?

The reason why people choose trust companies instead of a private trustee like a friend or family member is the fact that trust companies “bring structure and oversight to the trust administration. A good example for such a structure is a trust department. It oversees the administration and can help when beneficiaries do not get along.” An important service of trust companies is asset management.

If you live in the sunshine state or plan to move there and look for trust companies in Florida here are some of your options:

Examples Of Trust Companies in Florida

Northern Trust 

Northern Trust is located in trendy Brickell/Miami. This is one out of 77 locations worldwide. It is one of the big players in the market. The company was founded in 1889 in Chicago. According to wikipedia “Northern Trust is one of the largest banking institutions in the United States. Furthermore, the bank is one of the oldest banks in continuous operation. As of June 30, 2021, it had $1.5 trillion in assets under management and $15.7 trillion in assets under custody.”

 

Trust Companies in Florida – Bank of America Private Bank

The company has several locations in Florida. You can find them in Orlando, Palm Beach and St. Petersburg.  As a very big bank they can assist with complex personal and charitable trusts. Another reason to set up your trust at the Bank of America is the fact that asset management can be spread over every asset class possible. This includes investments in real assets like timber, farm launch and natural resources. There is probably no asset class where they have no expertise. 

Wells Fargo

You can find the company in Miami. “The Private Bank” offers a “comprehensive range of fiduciary and trust services. They can create custom strategies for retaining your wealth, and deliver dedicated resources for disbursing your wealth.”

This another great example of the many opportunities you will only find when picking a big company for your trust. 

Salem Trust Company

This Tampa based company is a division of TMI Trust Company. TMI also bought the Family Office business from BMO Trust and Custody Services with an office in Naples, FL.

Read our article on: Naples Florida Retirement.

This company promises customized services. Historically Salem Trust has served government and institutional clients. The key business is to perform the services of a custodian bank.

Trust Companies in Florida – Bessemer Trust

The company has offices in Miami, Naples, Palm beach and Stuart, Florida. This firm is a multifamily office and thus offers more personalized services than a big trust company. They advertise special service and personal attention. Their mission is serving, not selling.

If you want to find out what a family office can do for you, reach out to Bessemer Trust.

Raymond James 

Another example for a trust company in Florida is Raymond James Trust Consultants are located in St. Petersburg. The firm was founded in 1962 and has been “a public company since 1983, Raymond James Financial is listed on the New York Stock Exchange (RJF) and its shares are currently owned by more than 20,000 individual and institutional investors’ ‘. The firm describes their approach to wealth conservative. The consultants aim to design a customer strategy that reflects the goals of the client. Common goals of Raymond James customer`s are: 

  • Growing wealth
  • Planning retirement
  • Preserving Wealth
  • Providing for family
  • Managing estate
  • Growing business

Trust Companies in Florida – Wilmington Trust

Wilmington Trust is a premier provider of wealth and institutional services for M&T Bank.” M&T Bank traces its origins to the founding of Manufacturers and Traders Bank in Buffalo, New York. 

Trust offices are located on Florida’s East coast in Palm Beach, Stuart and Vero Beach.

The company describes its advantages as being neutral, having high qualified staff and being experienced with complexity.

Finemark National Bank & Trust

According to Bloomberg “FineMark National Bank & Trust provides banking services. The Bank offers financial planning, lending, investment, wealth transfer, sports management, and business banking services.

 FineMark National Bank & Trust  in Fort Myers Florida. The company`s services include:

  • Estate Planning Services
  • Estate Plan & Tax Review
  • Settlement and Wealth Transfer of your estate
  • Fiduciary Services
  • Guardian of the Property/conservator
  • Trust Administration

 

Trust Companies in Florida – Sanibel Captiva Trust Company

A very authentic example for a trust company in Florida is the Sanibel Captiva Trust Company. It was founded in 2001 on Sanibel Island. Today Its assets under management are more $3 billion. The Naples Trust Company and The Tampa Bay Trust Company are divisions of The Sanibel Captiva Trust Company. Offices in Sanibel-Captiva, Naples, Marco Island, Tampa, Belleair Bluffs-Clearwater and Tarpon Springs.

Sanibel Captiva Trust Company can “serve as corporate trustee, co-trustee, personal representative or investment agent.”

In addition, the firm offers investment services, family offices services and foundation & institutional services.

Caldwell Trust Company

The firm offers “wealth management solutions and traditional trust services.” The company has offices in Venice and Sarasota. Roland Caldwell founded the business in 1993.” Caldwell Trust Company is an independent trust company with more than 25 years of investment experience and $1.2 billion dollars in assets under management.”

The services of the trust company include:

  • Fiduciary Services
  • Wealth protection & transfer
  • Philanthropy
  • Asset-specific analysis and planning
  • Estate Administration
  • Family Governance

You may also like our article on: What is a family office concierge?

A Word From healthylifestyleflorida.com

We hope our post gave you a good overview how to find trust companies in Florida that meet your needs. Don`t take the first company. Instead, invest some time to get to know at least three trust companies in Florida. That will improve your chances of fining the right partner for you.

Antje Diana Baumgarten

Antje Diana Baumgarten

I believe that the things we do and the products we use determine our lifestyle. Whether your ultimate goal is to optimize your health, fitness or well-being. I introduce you to content that has the true potential to make a significant difference to how we live, love, perform, learn, look, exercise, travel, relax, sleep, work and more.

Find The Best Gifts Today

Best Gifts For a 70 Year Old Woman

Leave a Comment

Your email address will not be published. Required fields are marked *