Rocky Mountain Bank will handle your trust the way you want it handled.
Rocky Mountain Bank offers true flexibility and personalized service in trust administration. Our team of professionals eases the burden of administrative details, while providing Wyoming advantages and the peace of mind offered by a regulated corporate trust entity.
RMB is a fully independent financial institution. We are able to work with your existing legal, insurance, and tax advisors as well as outside money managers and custodians. If desired, we can select other professionals from our network of high-quality providers.
At RMB, we always put your interests first. We are dedicated to helping you and your family achieve a secure financial future by providing quality trust services emphasizing flexibility, dependability, judgment, and value.
Types of Trust Services
RMB offers a variety of services to help you protect and manage your wealth. Our services include, but are not limited to: Wyoming situs, with all administration occurring in Wyoming; investment manager selection; investment manager oversight and review; asset custody; income collection; distributions; cash sweep; recordkeeping; periodic statements; tax reporting and tax return preparation; and monitoring the trust document for changes in Wyoming law.
RMB offers full-service discretionary trustee services, providing the convenience of having all your trust management needs met by a single provider; particularly an audited and regulated independent financial institution that understands the dynamics of modern trusts. In these relationships we offer expert fiduciary administration, reporting and recordkeeping, asset custody, money manager selection, and secure account access.
We place strong emphasis on faithfully carrying out the trust’s objectives, and assure investments adhere to the trust’s governing document and investment policy statement. We will also serve as trustee for a variety of unique and non-financial assets on a case-by-case basis. As discretionary trustee, RMB offers maximum flexibility. We will work with you and your family advisors to create a custom plan meeting your expectations and unique needs.
If you wish to combine the benefits and safety of a corporate trustee with the personal relationship of an individual trustee, RMB offers an ideal solution. We may serve as a co-trustee, working with your selected individual fiduciaries while providing the stability and administrative expertise of a corporate trust department.
Under Wyoming law a trustee is allowed to delegate certain duties and powers to others. This often involves the delegation of investment management to other professionals, co-trustees, or trust advisors, with RMB serving as fiduciary and periodically reviewing the performance and compliance of the delegated function. A delegated arrangement with RMB can be an effective way for a non-Wyoming trust to change situs to Wyoming for tax purposes, obtain professional Wyoming administration, and retain the construction and validity of the home state trust document.
In a directed trust, the grantor appoints a co-trustee, trust adviser, committee, or party other than the directed trustee to control certain decisions such as investment management or distributions. By selecting RMB as your directed trustee, you may benefit from the advantages of trust situs and administration in Wyoming, yet maintain control over investment and disbursement decisions.
Advantages of selecting RMB as directed trustee for your trust may include:
- Favorable Wyoming asset protection and tax treatment
- Professional administration by a regulated corporate entity
- Control over investments
- Control over distributions
- Significant cost savings
As a directed administrative trustee, RMB offers flexibility, control, convenience and expert support.
While many trust management firms do not wish to serve as trustee to ILITs until they are funded by the policy proceeds, RMB is willing to alleviate the administrative burden both during the insured’s lifetime and following their death.
There are two levels of service, corresponding to the insured’s life-cycle.
Administrative Trustee (during insured’s lifetime):
- Create trust account
- Transfer policies to trust
- Purchase new policies
- Pay policy premiums
- Prepare and distribute Crummey notices
- Tax reporting
- Monitor insurance companies and policies
For the above services a flat, annual fee is assessed determined by the complexity of duties required and whether or not RMB is acting as directed trustee.
Administrative Trustee (after insured’s death):
- Collect policy proceeds
- Distribute proceeds or continue administration as full, delegated, or directed trustee
Following the funding of the trust with policy proceeds, the account will change to a fee structure to be determined by the elected service level and trustee role.
For individuals seeking to domicile financial assets in Wyoming, RMB offers a quality solution. Through an agreement with Fifth Third Bank, RMB may serve as custodian of your financial assets in a Non-Managed Custodial Agency Account. By placing your assets with RMB as custodian, you may benefit from domiciling assets in Wyoming, while maintaining full authority to invest your assets according to your investment plan. RMB may also be able to interface with the money manager of your choice. RMB provides an ideal solution for those who wish to fully house their assets under Wyoming’s advantageous legal and tax system.
RMB offers an ideal solution for financial advisory firms seeking to offer trust services to their clients. RMB retains the flexibility to work with most money managers, allowing the advisor to remain as investment manager to the trust, and rely upon RMB as a value-added partner to provide administrative trustee services. Combined with the advantages of Wyoming situs, RMB is an ideal partner, helping the advisor win loyalty from current clients, and potentially gain additional funds under management.
RMB does not directly engage in asset management. At RMB, we believe in serving our customers by providing quality options. Whether you have a relationship with a trusted investment advisor, or would like us to select investment management through our deep resources, we provide tailor-made, quality solutions.
When RMB serves as discretionary or delegated trustee, we will select professional money management from a range of quality options. Through a strong relationship with Family Management Corporation (FMC), an investment advisory firm headquartered in New York City, and with offices in Wyoming and Florida, we have access to a broad array of quality money managers and investment programs. Through FMC, we are able to create customized investment plans to suit the specific investment goals of your trust. FMC is exclusively focused on helping individuals and families protect and grow their wealth, making them an ideal partner to help us safeguard and grow the assets of your trust.
RMB maintains a rigorous due diligence and monitoring process, in order to maintain a high level of service and assure your trust assets are receiving the best care in the business.
If you have an established relationship with a money manager you would prefer to manage your trust assets, RMB is willing and able to work with most firms, pending appropriate due diligence. It is RMB’s goal to offer you true flexibility of choice. We are willing to go the extra mile to assure your trust is managed according to your intent and goals.
RMB provides a variety of asset reporting options. For the greatest level of instrument and activity detail, we can provide direct interfaces with most money management firms. In these cases, information on each asset is tracked daily, and aggregated into the statement format of your choice. Additionally, up to date information is available 24 – 7 through our secure web access portal. Where less detail is required, we are able to aggregate data monthly or quarterly to your trust statement, or we may simply attach copies of asset manager statements to your regular trust statement. No matter what your reporting needs are, RMB offers a personalized solution.
In order to provide purely Wyoming-based trust management service, RMB offers custody service for all trust assets. Whether RMB is selecting money management services or you wish to retain your own advisor or broker-dealer, your assets can be domiciled in Wyoming. Through our agreement with Fifth Third Bank, most money managers may trade your non-managed custody account directly. In cases where this is not possible or desired, RMB may execute trades on the account based on direction from an authorized party. As always, our goal is to provide you the best of Wyoming’s advantages while providing the widest array of options.