Many trust companies promise to be advisor-friendly, but Members Trust Company is proving its commitment through action, and delivering on that promise through its unique approach to partnership. With its ownership by 46 nonprofit credit unions, focus on personalized service, and blend of Main Street values with Wall Street expertise, Members Trust is carving out a distinctive niche in the delegated and directed trust spaces.
In an interview with The Wealth Advisor’s Scott Martin, President and CEO Ken Lako detailed how the company’s structure enables faster decision-making, more personalized service, and a willingness to take on complex trust cases that other providers might avoid.
A Different Kind of Trust Company
The foundation of Members Trust’s distinctive approach lies in its credit union ownership structure, which fundamentally shapes how the company approaches client service and business growth. Unlike traditional trust companies that face constant pressure to increase profits, Members Trust’s nonprofit ownership allows for a more service-oriented approach.
“I don’t get calls from our ownership groups saying we need to increase 10% or 20%,” Lako says. “I get calls saying: ‘We need better solutions. We need better services. We need more people on your team to make sure we’re answering calls quicker and serving our members.’“ The focus on service over profit margins creates a refreshing alternative in the trust industry, allowing the company to prioritize long-term client relationships over short-term financial metrics.
Combining Credit Union Values with Institutional Expertise
While Members Trust maintains the service-oriented culture of credit unions, it brings institutional-grade investment and fiduciary capabilities to the table. “We talk about having Main Street values and Wall Street expertise,” Lako explains. The company has built a team of highly credentialed professionals, including multiple CFAs, JDs, and LLMs, ensuring it can handle complex trust administration while maintaining its service-first approach.
The combination has proven attractive to a wide range of partners, from independent RIAs to major broker-dealers. Working with approximately 80 different financial institutions underscores the company’s ability to adapt its services to various business models and client needs.
This momentum shows no signs of slowing. “We are actively engaged with independent RIAs and some of the largest broker-dealers in the United States right now to expand our delegated and directed trust business,” Lako says, highlighting the company’s commitment to partnerships that enhance rather than compete with advisor relationships.
Nimble Decision-Making As a Competitive Advantage
While Members Trust’s team of 60-plus professionals may be smaller than those of some industry giants, this lean structure creates distinct advantages for advisors and their clients. The company’s size allows for quick, decisive action without layers of bureaucracy.
Where larger institutions might require multiple committee reviews for basic decisions, Members Trust can move swiftly. The team can gather quickly to make crucial decisions about account acceptance, discretionary distributions, or new product lines “in a matter of hours, where it would take days, weeks, or months for those decisions to be made at other institutions,” Lako says.
This agility means advisors and their clients don’t have to wait long for answers, allowing them to act on opportunities and address challenges without unnecessary delay.
Comprehensive Trust Solutions
Despite its smaller size, Members Trust offers a full range of trust services and shows particular willingness to handle complex cases that larger institutions might shy away from. The company actively seeks opportunities in special needs trusts, an area where some larger firms may have pulled back owing to the rigorous service requirements.
“Some of the larger firms in particular are starting to shy away from [special needs trusts] because there’s more hand-holding,” Lako says. “It’s more labor intensive than a traditional agency type of account. But we are actively pursuing that and growing that part of our business.”
The company’s capabilities also extend across the full spectrum of trust services, providing advisors with a one-stop solution for their clients’ diverse trust needs. Members Trust can handle everything from traditional investment accounts to real estate and specialty assets, ensuring advisors can serve clients with complex holdings or unique requirements.
A Different Corporate Culture
Members Trust’s approach stems from a corporate culture that prioritizes client service over profit maximization. Lako, drawing from his experience at larger institutions, notes a stark contrast in priorities. While other firms focus primarily on segmentation, account loads, and margins, Members Trust concentrates on improving client service, response times, and solution quality.
The company describes itself as “a national wealth management firm with the heart of a credit union,” which manifests in concrete advantages for advisors and their clients. For Lako, this means focusing on what matters most to advisors: competitive fees and active engagement in serving clients. “Are we charging a reasonable and appropriate fee to their clients for the work that we’re doing? And are we actively engaged with them to better serve those clients on a regular basis?” he asks. “I can share with you unequivocally that at Members Trust Company, we are.”
“We’re not a credit union, but we do act with the heart of a credit union,” Lako emphasizes. “We pride ourselves on placing people over profits. And I think that really shows up in what we do day in and day out to serve advisors out there across the nation.”
An Open Invitation to Advisors
For advisors seeking a trust partner, Members Trust offers an accessible entry point. The company maintains an open-door policy, with senior leadership readily available to discuss potential partnerships. This accessibility extends from initial conversations through ongoing relationship management, ensuring advisors have direct lines of communication with decision-makers.
The company is actively building new advisor relationships in 2025, offering a partnership that combines institutional expertise with personalized service. For advisors who value quick decision-making, comprehensive trust capabilities, and a partner focused on service excellence, Members Trust Company presents a compelling alternative to traditional trust providers.
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