Frequently Asked Questions
Why Use an Independent Trust Company?
Independent trust companies are staffed with experienced financial and estate
planners, investment managers and administrators who are trained and skilled in
the administration of a wide variety of accounts. Most individual trustees do not have
that kind of expertise and most large regional bank trust departments have grown so
large, that what their clients find missing is the “human factor,” the individual
attention that our clients expect and deserve. Our goal, as a locally owned
institution, is to create a culture that understands and responds to our client’s
needs. It’s about relationships.
An independent trust company is an organization of professionals. And while
individuals within the organization may come and go, OneTrust Financial will
continue to be there to service your needs. As an independent trust company, we
pledge to administer assets under our control objectively and without the emotion
that may be present if a family member is asked to serve in the capacity as a
trustee. This objectivity can help prevent costly family legal battles and ensure that
each beneficiary is treated fairly.
Finally, since OneTrust Financial sells service rather than products, you can be
assured that our advice and investment recommendations will be based on the
actual needs of our clients and not structured to meet the objectives and sales
goals of a parent corporation.
What kind of accounts do you handle?
As an independent trust company licensed by the State of Ohio and chartered by the
Office of the Comptroller of the Currency (OCC), OneTrust Financial offers the same
account types as those offered by bank trust departments:
How do I know my assets are safe?
An independent trust company must undergo a high level of regulatory oversight and
must establish and maintain policies and safeguards to avoid the misappropriation
of client funds and provide for the proper management of clients’ accounts. Client
funds cannot be commingled with the capital of the independent trust company.
Regulators require that dual controls be maintained over client assets. (OneTrust
Financial’s clients’ assets are held at Northern Trust Company in Chicago.) In
addition all independent trust companies must maintain insurance to protect clients
from losses due to inappropriate actions of employees. (Trust assets, whether held
by OneTrust Financial or by a bank trust department, are not subject to FDIC
insurance.)
What About Fees?
Our current annual fee is 1.00% of assets, which can go lower as your account value
increases. Based on your account’s market value at the prior month-end, the fee is
pro-rated and collected monthly. We do not charge a base fee or have an annual
minimum fee. We do not promote or trade in proprietary mutual funds and therefore
do not receive any hidden fund-level fees from your account.
There is an annual charge for the cost of preparing fiduciary income tax returns.
(Other expenses such as: commissions on securities transactions; wire transfer
fees; appraisals; cost of registered mail and courier delivery; and similar items may
be charged to the account if and when they are incurred.)
When acting as Executor for an estate, our fiduciary fee is set by the County where
the decedent lived and calculated on the value of the probate assets.
What does that get me?
The services we provide include:
How easy is it to open an account with OneTrust Financial?
Call us (937-875-2550 or toll-free 1-866-816-0043) or contact us by email through
this web site to ask further question or to set up an appointment to discuss your
current situation and future needs for your retirement and estate. If you are in the
area, you can also stop by our office to visit (see map and directions on this site)
and set up an appointment. We are open Monday through Friday, 8:30 am to 5:00
pm. There is no charge for preliminary discussions and all information shared is
kept strictly confidential.
Once you have decided that you want to open or transfer an account to OneTrust
Financial, we will need a copy of your trust document (if it is a trust account) and your
most recent statement of assets to get started. After signing an account application
and providing required identification information, we can proceed to open your
account and begin the transfer of assets which can usually be completed with a
week to ten days depending on the type of assets being deposited or transferred
and how quickly your current agent or trustee initiates the requested transfer.
We look forward to meeting and working with you!
Independent trust companies are staffed with experienced financial and estate
planners, investment managers and administrators who are trained and skilled in
the administration of a wide variety of accounts. Most individual trustees do not have
that kind of expertise and most large regional bank trust departments have grown so
large, that what their clients find missing is the “human factor,” the individual
attention that our clients expect and deserve. Our goal, as a locally owned
institution, is to create a culture that understands and responds to our client’s
needs. It’s about relationships.
An independent trust company is an organization of professionals. And while
individuals within the organization may come and go, OneTrust Financial will
continue to be there to service your needs. As an independent trust company, we
pledge to administer assets under our control objectively and without the emotion
that may be present if a family member is asked to serve in the capacity as a
trustee. This objectivity can help prevent costly family legal battles and ensure that
each beneficiary is treated fairly.
Finally, since OneTrust Financial sells service rather than products, you can be
assured that our advice and investment recommendations will be based on the
actual needs of our clients and not structured to meet the objectives and sales
goals of a parent corporation.
What kind of accounts do you handle?
As an independent trust company licensed by the State of Ohio and chartered by the
Office of the Comptroller of the Currency (OCC), OneTrust Financial offers the same
account types as those offered by bank trust departments:
- Personal Trust Accounts – Revocable and Irrevocable, Funded and Unfunded
- Agency Accounts – for personal investments or individual trustees
- IRA Accounts
- Estate Executor
- Testamentary Trustee
- Charitable Trusts, Private Foundations, Scholarship Funds and Non-Profit
Endowment Accounts
How do I know my assets are safe?
An independent trust company must undergo a high level of regulatory oversight and
must establish and maintain policies and safeguards to avoid the misappropriation
of client funds and provide for the proper management of clients’ accounts. Client
funds cannot be commingled with the capital of the independent trust company.
Regulators require that dual controls be maintained over client assets. (OneTrust
Financial’s clients’ assets are held at Northern Trust Company in Chicago.) In
addition all independent trust companies must maintain insurance to protect clients
from losses due to inappropriate actions of employees. (Trust assets, whether held
by OneTrust Financial or by a bank trust department, are not subject to FDIC
insurance.)
What About Fees?
Our current annual fee is 1.00% of assets, which can go lower as your account value
increases. Based on your account’s market value at the prior month-end, the fee is
pro-rated and collected monthly. We do not charge a base fee or have an annual
minimum fee. We do not promote or trade in proprietary mutual funds and therefore
do not receive any hidden fund-level fees from your account.
There is an annual charge for the cost of preparing fiduciary income tax returns.
(Other expenses such as: commissions on securities transactions; wire transfer
fees; appraisals; cost of registered mail and courier delivery; and similar items may
be charged to the account if and when they are incurred.)
When acting as Executor for an estate, our fiduciary fee is set by the County where
the decedent lived and calculated on the value of the probate assets.
What does that get me?
The services we provide include:
- Professional services and objective advice of a Certified Trust Financial
Advisor (CTFA). - Custody and safekeeping of assets.
- Initial review of investment objectives and performance including risk
analysis. - Ongoing investment review and analysis including reallocation and
rebalancing of investments as necessary by a Registered Investment
Advisor (RIA) - Maintenance of the cost basis of your assets.
- Processing of trades and securities settlements, stock splits, exchanges
and other capital changes. - Bill paying and other cash disbursements.
- Annual summary of tax information.
- Preparation of fiduciary income tax returns.
- Periodic Statements.
- Secure Internet access to your account.
How easy is it to open an account with OneTrust Financial?
Call us (937-875-2550 or toll-free 1-866-816-0043) or contact us by email through
this web site to ask further question or to set up an appointment to discuss your
current situation and future needs for your retirement and estate. If you are in the
area, you can also stop by our office to visit (see map and directions on this site)
and set up an appointment. We are open Monday through Friday, 8:30 am to 5:00
pm. There is no charge for preliminary discussions and all information shared is
kept strictly confidential.
Once you have decided that you want to open or transfer an account to OneTrust
Financial, we will need a copy of your trust document (if it is a trust account) and your
most recent statement of assets to get started. After signing an account application
and providing required identification information, we can proceed to open your
account and begin the transfer of assets which can usually be completed with a
week to ten days depending on the type of assets being deposited or transferred
and how quickly your current agent or trustee initiates the requested transfer.
We look forward to meeting and working with you!
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