National Financial, the clearing and custody business of Fidelity Investments, announced Wednesday that it had integrated a suite of new personal trust services into its Streetscape broker workstation, including enhanced reporting capabilities, administrative trustee services and a trustee match program.
Personal trust assets are expected to swell to more than $3 trillion by 2019, and 72% of households with $1 million in assets use a personal trust services provider. In this environment, the new suite is designed to help brokers build stronger relationships with high-net-worth investors, and potentially generate new opportunities for incremental revenue growth and consolidation of assets.
“Integrating personal trust services into their broader service offering will not only help brokers bring on higher-net-worth clients but also provide them with more opportunity to build cross-generational relationships with their investors,” Sanjiv Mirchandani (left), president of National Financial, said in a statement.
He added, “This new personal trust services solution is a direct response to the evolving needs of our clients and their end investors—particularly as more boomers head into retirement—and reflects our ongoing commitment to delivering the products and services that can help them achieve sustainable growth.”