A good number of individuals, businesses, and charitable organizations rely on us to help them grow their wealth, protect their assets, and safeguard their legacies, so that they can command their futures and enjoy their successes. Others rely on us to invest significant sums of money that they have received as a result of an inheritance or the sale of property.
What sets us apart from other types of financial services providers is the nature and quality of our work.
Is it time for you to move to a Certified Trust and Financial Advisor? These insights into our way of doing things will help you arrive at an informed decision.
We’re different
First, you should understand that we don’t claim to be better than other types of financial services providers. We’re just different. Here’s how:
Buying and selling
Most brokers make their money from the commissions that they receive for buying and selling securities for their customers and from profits on new issues of securities that they underwrite and make available to the public.
At The Trust Company of Kansas (TCK), we do not charge commissions. Instead, our fees are a reasonable percentage of the assets under management, so our incentives are aligned with yours. Additionally, our team members are owners, which results in low turnover and the opportunity for our clients to enjoy long-term relationships with their advisors.
Financial management
TCK does not sell any investments, but rather is governed by statutes and must adhere to the Uniform Prudent Investor Act. As a state-chartered independent trust company, we are held to the highest standards of professional conduct, subject to comprehensive regulatory oversight by the Office of the State Bank Commissioner of Kansas, and are held to high fiduciary standards as related to management of assets. According to the American Bankers Association, fiduciary is defined as a relationship between two persons, founded on confidence and trust, requiring that each person exercise a corresponding degree of loyalty and good faith. TCK accepts fiduciary responsibility in its role as investment advisor.
More than investment counseling
In some respects, our services resemble those that a client might receive from a top-flight investment counseling firm. But here, too, there can be significant differences.
At TCK, we provide each of our clients with complete custodial care and record-keeping services. Indeed, we take care of virtually every investment detail that you can think of. Sound convenient? It is. More importantly, all this attention to detail can result in significant time and cost savings for you over the years. If you’ve ever mislaid a dividend check, or failed to notice that a bond was called for redemption and had ceased to earn interest, or overpaid your taxes because adequate investment records were lacking, you’ll understand what we mean.
Unique advantages
When creating a trust is well aligned with a client’s goals, they are able to take full advantage of our broad and unique capabilities as a trust institution, by placing their investable funds in a revocable living trust. With this arrangement, clients can instruct us to perform a wide variety of special duties, now or in the future.
For example, some of our trust clients have a fondness for travel or philanthropy. Who makes sure that their estimated income taxes, property taxes, and other recurring payments are taken care of while they’re away for extended periods or that their charitable giving desires are met? If they wish, we do.
For older men and women, our ability to accept added responsibilities as trustee can result in enhanced peace of mind. It’s worrisome to hear of aging friends or relatives who have become incapable of managing their own finances, and even more distressing to hear of problems arising from the appointment of a guardian or conservator who is ill equipped to meet their needs. With a well-designed trust agreement, an older person can make arrangements now to minimize the burden of wealth management in the event of future illness or incapacity.
Additionally, TCK has an account officer dedicated entirely to the management of unique assets, such as art, jewelry, special collections, real estate, mineral rights, education savings plans, annuities, insurance policies, partnerships, and other sundry assets.
Moving up without “tying up”
When talking with potential clients about switching from brokerage to trust services, we’ve learned to expect a comment that goes something like this: “A trust sounds like just what I’ve been looking for—except, I don’t want to tie up my money.”
You will be pleased to hear that the terms of a trust can be just as untied as you’d like for them to be. What’s more, the type of trust that we’re discussing is revocable. That means you’re free to amend your instructions to us as your plans or life circumstances change.
At The Trust Company of Kansas, we help people. We promise to minimize the burden of wealth management and bestow the freedom to enjoy everything else. The officers at The Trust Company of Kansas are always willing to discuss your financial goals with you and help you to create a plan that is well-aligned with your wishes. If you have a specific question about investment management or estate planning, please contact us at (800) 530-5254 or visit tckansas.com/contactus, and one of our Certified Trust and Financial Advisors will be happy to assist you.