CHICAGO, July 29, 2021 /PRNewswire/ -- Envestnet,
Inc. (NYSE: ENV) announces that Peak Trust Company (Peak), an
advisor-focused firm offering customized trust administration for
individuals and families, has joined the Envestnet Trust Services
Exchange powered by Trucendent as a trustee partner for
broker-dealers and Registered Investment Advisers (RIAs). Peak
works with more than 1,500 estate planners across the country and
specializes in the management of trusts pursuant to law in
Alaska or Nevada. These states are considered top-tier
trust jurisdictions because they have no state income tax and allow
for self-settled and perpetual trusts.
"Peak Trust Company has embraced innovation to simplify and
unify the estate planning process—and put more power into the hands
of advisors for effective conversations with clients and their
families," said John Yackel,
Co-Founder and CEO of Trucendent. "Every individual and family
should consider an estate plan—but the question is, do you want
your most important decisions to be controlled by the state in
which you reside, or by your estate plan? Advisors can now provide
all of their clients, not just the high-net-worth, with
jurisdiction of choice during the estate planning process. I am
proud to join Trucendent in order to continue expanding the
Envestnet financial wellness ecosystem in this way."
"Peak Trust Company is committed to helping advisers manage and
retain control of client assets with the use of trusts. We focus on
helping advisors transfer wealth more effectively and to provide
income planning for the families they serve," said Matthew Blattmachr, CFP, CFIRS, President and
CEO of Peak Trust Company. "As we continue to administer trusts
for families around the country, the Envestnet Trust Services
Exchange gives us the opportunity to team with all disciplines of
estate planners on crafting a broad spectrum of trusts—in the most
favorable way for clients—in all 50 states."
Founded in 1997 and based in Anchorage, Alaska, Peak provides financial
advisors with direct access to the quality trustee services they
need to manage and retain control of clients' assets, while
building relationships with their client's heirs. Peak's unbundled
service offering allows advisors to select only the services and
solutions they need, and its streamlined workflows make it possible
to open a trust account in as little as three days. Peak serves as
trustee for trusts totaling over $8
billion in assets and serves over 2,500 families residing in
all 50 states as well as foreign countries. For more information,
please visit https://www.peaktrust.com/services/.
Clients do not have to live in a trust jurisdiction, top-tier or
otherwise, in order to establish a trust in that state. Prior
to the addition of Peak, the Trucendent-powered Envestnet Trust
Services Exchange recently welcomed Sterling Trustees—which
specializes in the administration of trusts established in
South Dakota, another top-tier
trust jurisdiction—as a trust partner. BOK Financial Advisor Trust
Services, a nationally chartered, advisor-friendly trust company
which is part of BOK Financial, joined the Exchange earlier this
year.
"At a time when $68 trillion is
expected to be passed from parents to children over the next 25
years, industry research finds that only 13 percent of affluent
investors choose to engage the advisor their parents used," said
Andrew Stavaridis Group Head, Solutions Distribution at
Envestnet. "Our Trust Services Exchange can help position
advisors to retain heirs as clients during the looming and massive
intergenerational transfer of wealth. Advisors can work with trust
partners on the Exchange to connect with clients' family members
and heirs in ways they never could before, through sophisticated
estate planning tools."
About Envestnet
Envestnet, Inc. (NYSE: ENV) is transforming the way financial
advice and wellness are delivered. Our mission is to empower
advisors and financial service providers with innovative
technology, solutions, and intelligence to make financial wellness
a reality for everyone. Over 106,000 advisors across more than
5,200 companies—including 17 of the 20 largest U.S. banks, 47 of
the 50 largest wealth management and brokerage firms, over 500 of
the largest RIAs, and hundreds of FinTech companies—leverage the
Envestnet platform to grow their businesses and client
relationships.
For more information, please visit www.envestnet.com, subscribe
to our blog, and follow us on Twitter (@ENVintel) and LinkedIn.
About Trucendent
Trucendent provides a suite of estate planning and trust
transfer solutions which are designed to help advisors connect with
the next generation. The firm's offering enables a seamless wealth
transfer process that incorporates crucial family insights.
Trucendent has created a powerful network comprised of leading
estate planning attorneys along with the industry's leading
advisor-friendly corporate trustees for effectively servicing all
types of trust accounts.
In addition to empowering advisors to leverage the unique
characteristics of a trust account to achieve their clients' goals,
Trucendent engages all parties involved in the wealth transfer
process—advisors, attorneys, family members, and trustees—through a
cohesive and collaborative platform that provides a unified and
consistent experience. To learn more about Trucendent, please visit
www.trucendent.com.
About Peak Trust Company
Peak Trust Company serves
estate planners looking for a professional trustee, who want
reliable and accessible expertise to help them with their client's
complex trust plans. Peak offers the experience and sophistication
to help you quickly and accurately establish trusts, backed by
easy-to-use trust administration. Unlike traditional banks and
trust companies, at Peak, your trust is our core business. This
enables us to provide a highly customized delivery process tailored
to your specific needs and an unbundled service structure,
providing everything you need but only what you want.
Peak Trust Company, founded in 1997 in Anchorage, Alaska, serves as trustee of trusts
nationwide, specializing in administration for trusts pursuant to
Alaska or Nevada law. For more information, please visit
www.peaktrust.com.
This release refers to information products or services that
may be in development and not yet available. Accordingly, nothing
in this release should be construed as a representation or legal
agreement by Envestnet to make available specific products or
services (including, without limitation, concepts, systems or
techniques). Envestnet is not a law firm and as such, does not
provide legal or regulatory advice or opinions to any party or
client.
Trucendent, Peak and Envestnet are separate and unaffiliated
firms. This release should not be construed as a recommendation or
endorsement of any particular product, service, or firm.
Media Contact:
Dana Taormina
JConnelly for Envestnet & Trucendent
973.647.4626
envestnetpr@jconnelly.com
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SOURCE Envestnet, Inc.