On Wealth: The modern evolution of the trust company
The International Family Offices Journal
Vol. 3 - Iss. 4 pp. 65–66
For our feature on wealth we have some thoughts by Jonathan Wainwright, a senior counsel at the Cadwalader law firm who is a director of a private trust company and a number of family offices in the United States and the Middle East. A trend he brings to our attention is the interest of wealthy families in having more control over their trust funds. One effect has been a growing interest in creating their own family trust companies. Jon describes their key legal elements. Another perhaps more recent trend is the establishment of ?high-service' boutique trust companies, which fit into the role formerly taken by high-service private banks. His conclusion is that: The menu of trust services available to high net worth individuals and families has substantially expanded in the past decade, allowing for greater flexibility and a higher level of support than has been available in the past 40 years. The emergence of the PTC and the resurgence of boutique high service trust companies offer high net worth individuals and families a far greater array of choices than was available 10 years ago.