In a word, Flexibility. Advisors work hard to do their best for the client. TCA can help advisors do their best by permitting non standard assets that other Trustees will not permit. TCA is flexible in the use of the advisers and clients choice of custodian or service provider. We currently have relationships with Schwab, TDAmeritrade, LPL, Fidelity and RBC to name a few.
Advisors may someday hope to retire or seal their practice to another Advisor who uses another service provider. Even if a service provider offers Trust services, a service provider who is currently serving as Trustee may not willingly transfer a Trust account to another service provider. TCA is here to serve the client and the financial advisor community.
Trusts usually have many complex issues involving tax, legal, and accounting. TCA has experience with most of those complex issues which can save time and money in administering a Trust.
TCA will not die or become incapacitated as might happen to a family member, attorney or other individual .
Geography and family dynamics is another reason to name TCA as a Corporate Trustee. An individual may live out of the area and not able to take care of certain Trust duties as TCA could. We have been involved with a number of Trusts where a family member was named Trustee and control over other family members. This situation can evolve into significant family problems. TCA, as a 3rd party Trustee, can help elevate or eliminate many family dynamics problem s.
TCA’s only job is to administer Trusts and related accounts. Our client’s have the important right of choice when it comes to the investment advisor, tax professional, attorney and insurance expert they wish to use to accomplish the purpose of their Trust. Most Corporate Trustee’s require their clients to confirm to the Trustee’s restrictions. Most often, those restrictions do not permit a client to continue to use the financial advisor, tax advisor, attorney or insurance professional they have used and trusted for years.
TCA has other advantages over other corporate Trustee’s because we permit most non-standard and illiquid assets such as residential and commercial real-estate, personal notes, loans and mortgages, pre-IPO stock, private-equity and partnerships to name few.