Reciprocal Relationships Bring in Clients

The most effective way for trust companies to gain clients is to form reciprocal relationships with other professionals, such as:

• Estate planners. When an estate planner realizes that it’s time to move a client’s assets into a trust, the client will almost always ask the estate planner for trust company suggestions.
• CPAs. Once you form a close relationship with the CPA, you can reach the assets.
• Real estate brokers and insurance agents. These people are often present when people make life-changing decisions or come into significant wealth and can suggest trust companies.
• Financial planners and other investment advisors. These professionals have the same type of influence over clients as estate planners do.

See Scott Martin, Using Influencers to Land New Trust Accounts, The Trust Advisor Blog, May 30, 2010.