Wealthspire Advisors Launches Trust Company

Wealthspire Advisors LLC (“Wealthspire Advisors”), an NFP company and independent registered investment advisor (RIA) with $25.86 billion¹ in assets under management (AUM), announced the launch of its next-generation trust company, Wealthspire Trust LLC. Advisors at Wealthspire Advisors can now offer personal trust administration solutions through Wealthspire Trust, powered by fully integrated technology and coupled with Tennessee’s favorable trust laws.

“The launch of our trust company further demonstrates our commitment to expanding our family office services, ensuring we best serve our multigenerational families’ complex needs,” said Mike LaMena, Chief Executive Officer of Wealthspire Advisors. “Harnessing the strengths of our advisors’ investment expertise, combined with Wealthspire Trust’s technology and trust administration specialists, results in a powerful offering of client-centered solutions.”

“As we continued to evolve our services, we searched for a favorable jurisdiction for our trust company, and that’s Tennessee,” said Heather Flanagan, Head of Wealthspire Advisors’ Family Office Services and Chair of the Wealthspire Trust board. “In support of our advisory teams and clients, we have cultivated a team of Wealth Strategy professionals who specialize in estate planning, wealth transfer, and taxation. The combination of this expertise, together with Wealthspire Trust’s talented team, innovative technology, and Tennessee charter, uniquely positions us in a competitive industry.”

Jonathan Connolly, AIF^®, ATFA, President of Wealthspire Trust, previously held leadership roles at UBS AG, Comerica Bank and Trust, and RBC Wealth Management.

“Establishing our Tennessee-based trust company with a fully integrated technology platform sets us apart at a time when high-net-worth families expect more from their wealth management firm,” Connolly said. “As we set out to build the trust company of the future, we know clients expect real-time access to their information and answers to their questions because multigenerational trusts are complex. To further enhance our client-centric service model, we are staffed to provide a highly responsive trustee experience with accessibility across our firm.”

Tennessee’s differentiated trust company regulations offer many attractive benefits for wealthy families, including perpetual trusts, directed trusts, asset protection trusts, community property trusts, as well as flexible administration techniques such as implementing uni-trust provisions or modifications through non-judicial settlement agreements.

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