Trust Departments and Wealth Firms Collaborating on Client Solutions

As more clients are expected to turn to bank trust departments and trust companies for deeper financial guidance, expectations are rising. Basic administration no longer meets their needs. They seek broader diversification, smarter tax strategies, and long-term support to manage family wealth. Clients want portfolios tailored to their goals, not just for today, but for the decades ahead.

Meeting these demands requires a holistic approach and access to high-quality investment solutions. But building those capabilities in-house takes time, expertise, and resources that most trust teams may not have readily available.

That’s why more trust departments and trust companies are collaborating with wealth management firms to scale, innovate, and better serve their clients.

Closing the Expertise Gap

Trust departments and companies excel in fiduciary knowledge and compliance. But when it comes to advanced investment strategies like direct indexing or custom portfolio construction for high-net-worth clients, they often look to wealth management firms with specialized experience and training to help them deliver added value.

This is where a strategic firm, like AssetMark, can provide that expertise.

By outsourcing investment management, trust departments and companies gain access to a broader toolkit, including institutional research, third-party managers, and technology-driven strategies. That allows them to offer clients more options without the burden of building everything from scratch. It can also help them stand out and stay competitive in a fast-changing market.

According to Deloitte, 78% of banks plan to significantly expand their wealth management services, reflecting a broader industry shift toward more personalized, advice-driven solutions to meet evolving client demands.¹ Trust teams that provide these solutions are likely to be the ones poised to grow and lead.

Driving Operational Efficiency

More investment options often bring more operational complexity. Think about all the due diligence, manager oversight, compliance reporting, and performance tracking happening behind the scenes. Wealth management firms can provide turnkey systems that simplify portfolio management, reporting, and monitoring.

This means trust officers can focus on serving their clients and their fiduciary duties while the wealth management firm handles the administrative heavy lifting.

Meeting Client Demand for Personalization

Personalization is no longer a luxury. It’s increasingly a requirement.

More than one-third of high-net-worth clients choose their advisors based on the range of services and the quality of experience they provide.²

These clients expect full-service relationships that bring together investment management, estate planning, and tax strategies in a cohesive way.

Today’s robust wealth management platforms, like AssetMark, make that shift possible. These tools give trust departments and companies the ability to scale personalized strategies while maintaining the high-touch service and fiduciary standards that clients value. This is how trust departments and companies can move beyond transactional support to deepen the client relationship and lead their clients’ financial journeys.

Driving Growth and Loyalty

Expanding investment solutions isn’t just about better service. It’s a growth strategy.

By widening their investment capabilities, trust departments and companies can strengthen client relationships, retain more assets, and open the door to new business opportunities.

It can also give teams greater confidence to bring more value to their centers of influence.

With $124 trillion in wealth expected to transfer by 2048, the next generation is looking for more.³ They want smarter strategies, digital convenience, and advice aligned with their values. Trust teams that evolve with these expectations are better positioned to shape the future of wealth management—and build client loyalty that lasts.

The Solution

At AssetMark, in collaboration with Cheetah, we specialize in helping trust departments and companies enhance investment platforms, streamline operations, and deliver greater value to clients.

Ready to explore how to optimize your trust department’s investment strategies? Let’s start the conversation.

Contact our AssetMark team today to start a conversation.

Sources:

1 Wealth Advisor

2 Cerulli Associates

3 Cerulli Associates

AssetMark and Cheetah are separate and affiliated companies. Each company is responsible for their own content and services.

8060505.1 | 07/2025 | 07/31/2027