28 April 2017

Austin Capital Announces Trust Charter Approval

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Austin Capital Trust Company, LLC announced today it has received regulatory approval as a Nevada-chartered trust company as of July 1, 2013 and will immediately offer full trust services for clients across the country.

Austin Capital Trust Company is focused on helping independent advisors and broker dealers utilize trust services in order to compete for and retain assets. This focus will allow Austin Capital’s partners to compete more effectively with larger firms with in-house trust companies.

As a part of the commitment to serve independent advisors and broker dealers, Austin Capital will offer a full suite of qualified retirement plan services including acting as custodian, directed trustee service, and 3(21) investment advisory service to assist retirement plan sponsors with plan oversight. 

With the continued changes in the defined contribution plan (DC) regulatory environment, it is imperative that plan sponsors diligently manage their fiduciary responsibilities. With Austin Capital’s trust and fiduciary services, much of the investment oversight can be outsourced, thereby allowing advisors to focus on relationship management and asset gathering.

Beyond serving independent advisors, broker dealers, and qualified retirement plans, Austin Capital Trust Company will also offer a full line of trust functions such as custodial service, collective investment trust services, and family trust services.

By establishing the trust company in Nevada, Austin Capital Trust Company is able to provide clients and partners with a number of benefits including:

  • Preferred state for Asset Protection
  • A shorter period required by Nevada state law between the date an asset is transferred to a trust and the date an asset is protected from creditors
  • No state income tax on accumulated income that is not distributed, depending on trust type
  • No corporate income tax and no franchise tax
  • No state estate tax for Nevada residents
  • Ability for trusts to be effective for 365 years
  • Excellent privacy laws

 

David. Park, CEO of Austin Capital said, “It was important for us to establish the trust company in Nevada because of the state’s regulatory review along with the advantageous trust laws so that our clients will maintain confidence in the ongoing operations and oversight of their accounts.”

 

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