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Advisers-Owned Trust Company Receives OK to Launch

The announcement was what Christopher Holtby, Wealth Advisors Trust Company's President, has been waiting to hear. "We are pleased with theSouth Dakota approval and we are ready to move forward to provide quality trust services."

Wealth Advisors Trust Company is owned by severalDallas area wealth managers and includes a wills and estates attorney. Wealth Advisors Trust will offer investment management services, retirement accounts, and full trustee provisions that take advantage of South Dakota's asset protection and dynasty trust legislation.

Wealth Advisors Trust retainedNevada-based Garrison Institutional Services (www.garrisonnevada.com) to help prepare its application and to arrange for support services on the ground inSouth Dakota.

Garrison Institutional helps wealth managers determine whether a trust company would complement their current service offerings and, if so, assists them in applying for a trust company license in eitherNevada orSouth Dakota. Garrison also offers operational assistance to start-up trust companies.

"The team participating in the preparation of this application includes Regulatory Advisor Scott Walshaw, and Ginger Ogan who heads our management division," said Jerry Cooper, Garrison's Relationship Manager.

Scott Walshaw served as Nevada's Commissioner of Financial Institutions from 1983 to 2003 and has overseen, processed and approved more trust company charter applications than anyone in state history. Ginger Ogan, a former Supervisory Examiner & Training Director with the Nevada Financial Institution Division, has served as a senior trust officer and is an expert in bank compliance matters and trust transactions.

"We have found that investors are more comfortable and confident with advisors who offer a higher level of fiduciary responsibility for their assets. You couldn't find a better way to heighten fiduciary duty and customer peace of mind than through an advisor-owned trust company," Mr. Cooper said.

"Advisors have gotten the message and have been calling us recently to understand what is involved. Wealth Managers can learn more from a special report, 'Launching a South Dakota Trust Company: Guide to Operating Nationwide.'" (http://www.garrisonnevada.com/s/SouthDakotaReports.asp).

Mr. Cooper cited a recent company study revealing that many of today's wealthiest Americans -- those with $2 million or more in assets -- blindly trust their advisors with no regard to regulatory oversight. "This will change after the recent wave of financial scandals. Investors will want more protection, oversight and accountability for their assets and will see a trust relationship as essential to a better night's sleep."

    Contact:   Jerry Cooper
    Phone:     (775) 337-9000
    Email:     jcooper@garrisonnevada.com

SOURCE Garrison Institutional