Trust Company of America Ends 2013 With Record Assets Under Custody
New clients and strong performance by Trust Company RIAs drive strong results
DENVER, Jan. 28, 2014 /PRNewswire/ — Trust Company of America, the only independent RIA custodian offering fully integrated real-time technology, consultative services and back office support built exclusively for RIAs, today announced that assets under custody in 2013 grew to a record $13.2 billion from $11.4 billion on an increase in new client arrangements and rapid growth of current RIA clients.
In the second strongest year in its 40-year history, Trust Company signed 28 new RIA client arrangements, launched new partnerships with industry innovators and strengthened its service offerings – all aimed at helping RIAs realize their full potential.
“It has been a phenomenal year and we are proud of the results we have achieved for RIAs and their clients,” said David Barry, Trust Company of America CEO. “Our relentless focus on finding new ways to make operations more efficient and effective has led to strong bottom-line results.”
New advisors cited TCA’s non-competitive partnership – with no retail presence or products – and its core technology, which allows advisors to trade multiple models in a single account in three clicks or less, as key reasons for joining Trust Company of America.
“Finding the right fit is a crucial factor in the success of a business relationship,” said David Shindel, AIF(®), President of United Planners, which signed a strategic relationship with Trust Company of America. “With Trust Company of America, we recognize the value they add to our open-architecture suite of business solutions, and most importantly we share the same overarching commitment to our advisors and their clients.”
Throughout the year, several key initiatives drove improvements to TCA’s technology platform, and its practice management and business infrastructure – from instituting a Lean Six Sigma practice to make company operations more efficient, to expanding development of RIA-branded apps for clients.
Trust Company also rolled out the Six Sigma offering to advisors, helping to eliminate wasted time and effort in some back-office activities and other procedures in order to free up advisors to grow their business.
“Through Six Sigma, we were able to take a fresh look at procedures and processes that we’ve been doing the same for many years,” says Bethany Asher, operations project analyst at Symmetry Partners. “Trust Company was a hands-on partner throughout.”
“These results show that we are winning the business of some of the most successful RIA firms in the industry,” said Joshua Pace, Senior Vice President, Business Development. “We think of our advisors as our partners and we never compete against them for individual investors. Our focus is on helping RIAs to grow their businesses while controlling overhead, streamlining business practices and better serving investors.”
About Trust Company of America
Since 1972, Trust Company of America (TCA) has been a champion of Registered Investment Advisors, dedicated to helping them realize their full potential. TCA is the only independent RIA custodian offering fully integrated real-time technology, consultative services and back office support built exclusively for RIAs. Headquartered in Centennial, Colorado, TCA is a partner to advisors, providing the technology and support they need to manage their practices and clients’ financial futures. See more at: http://www.trustamerica.com.
SOURCE Trust Company of America