Huntington National Bank in Columbus, Ohio, has opened the Huntington Family Office, initially to serve high-net-worth individuals and families in the Columbus area before expanding into other Ohio markets in the near future.
The new family office offers integrated coordination of investment management, private banking, financial planning, trust and fiduciary services, charitable interests, insurance, tax planning and estate settlement services by a team of specialists in each area, according to an April 28 statement from the bank. The goal is to be a one-stop shop in order to increase the efficiency and effectiveness of financial management for each client.
“In too many instances, busy and successful people exhaust significant time and effort meeting with individual advisors, coordinating ongoing communication among these advisors, and reconciling potentially conflicting counsel,” Herb Chen, senior vice president and director of the new entity, said in the statement. At the Huntington Family Office, clients will meet with a team of advisors who will help them plan for the near and longer term, he said.
A spokesperson for the bank said in a May 4 email message that the Huntington Family Office operated in association with The Huntington Investment Co., which is a Registered Investment Advisor (RIA).
The creation of the family office is a continuation of Huntington’s announcement last December that it was expanding its presence in select markets, beginning with the opening of new offices for its wealth advisors group in Huntington, W.V. The announcement said that other offices were planned throughout 2010.
Michael S. Fischer ([email protected]) is a New York-based financial writer and editor and a frequent contributor to Wealth Manager.