Arden Trust Company Acquires $400M Book of Business from Northwestern Mutual
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Delaware-based firm adds over 300 client relationships, 3 trust officers, and new Milwaukee location
WILMINGTON, Del.--(BUSINESS WIRE)-- Arden Trust Company (Arden Trust), a limited purpose trust company under the ownership of Kestra Financial, Inc. (Kestra Financial), today announced its acquisition of a $400 million trust business from industry-leading financial security company, Northwestern Mutual, of Milwaukee.
Headquartered in Wilmington, Delaware, Arden Trust gains over 300 client relationships and three trust officers in a new office in Milwaukee. The acquisition, effective as of Feb. 29, 2020, fortifies Arden Trust’s coverage capabilities by adding its eighth location and expands the firm’s geographic presence into the Upper Midwest.
“This transaction is part of our strategic growth initiative to partner with advisors across the country to provide best-in-class, holistic trust and financial planning services,” said Michael Roberts, President of Arden Trust Company.
The professionals at Arden Trust have over 25 years of experience offering industry-leading, personal trust services.
“By expanding our footprint into the Upper Midwest region of the country, we are furthering our mission of empowering advisors to preserve familial legacies through tax-efficient wealth transfers and intergenerational planning all the while driving business growth for Arden Trust,” said Roberts.
For more information on Arden Trust Company, please visit www.ardentrust.com.
About Arden Trust Company
Arden Trust Company (Arden Trust) is a Wilmington, Delaware-based limited purpose trust company with more than $7 billion in assets under administration. Arden Trust has more than 90 employees in eight locations and accepts appointments as Agent for Trustee/Guardian/Executor, Co-Trustee, Custodian, Discretionary Trustee, and Directed Trustee for all types of personal trust accounts. Arden Trust works with financial advisors to offer trust services that preserve the advisor/client relationship, administering more than 5,000 trust accounts including Life Insurance Trusts and Special Needs Trusts.
About Kestra Financial, Inc.
Kestra Financial, Inc. (Kestra Financial) offers industry-leading wealth management platforms for independent advisors nationwide. With an innovative culture that celebrates independence, the company seeks to redefine the future of the advisory industry through superior service, cutting-edge technology, and preeminent resources that every advisor needs to succeed in the market now and in the years to come.
Kestra Financial companies collectively oversee $92 billion in assets under administration (AUA) and support more than 2,000+ independent financial advisors across the country in delivering comprehensive securities, trust, and investment advisory services to their clients.
Kestra Financial is the parent company of Arden Trust Company, Bluespring Wealth Partners, LLC, and Kestra Investment Services, LLC, member FINRA/SIPC, as well as H. Beck, Inc., member FINRA/SIPC, Kestra Advisory Services, LLC, Kestra Private Wealth Services, LLC and Kestra Institutional Services, LLC, all federally registered investment advisers.
Gregory FCA for Kestra Financial, Inc. and Arden Trust Company
Lindsay Fitzpatrick, 610-228-2127
Source: Arden Trust Company
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