At a time when financial advisors are looking for every possible business advantage, launching an advisor-owned trust company appears to be an increasingly attractive option.
At least 50 advisory firms around the country have opened up trust companies so far over the past 5 years, and that's just according to the banking authorities in three states: South Dakota, Nevada and New Hampshire.
The benefits to opening up a trust company include “stickier” assets, additional revenue, and a chance to differentiate a firm in a cutthroat marketplace, experts say.
Morgan Stanley VP Ryan James Vollmer, 44 died last week under suspicious circumstances after a hotel party in St. Johns Antigua
Ryan Vollmer, 44 above swimming on this beach last week drown at 1am following a party he attended at the Galley Bay Hotel in Antigua. Local police continue an investigation to determine possible suspicious circumstances.
Police reports indicate that Vollmer was a listed as a guest at the Galley Bay Hotel, apparently had just returned to the hotel from an outing, and decided to go for a swim.