Arden Trust Company (Arden Trust), a limited purpose trust company under the ownership of Kestra Financial, Inc.announced its acquisition of a $400 million trust business from Northwestern Mutual, of Milwaukee.
Headquartered in Wilmington, Arden Trust gains over 300 client relationships and three trust officers in a new office in Milwaukee. The acquisition, effective as of Feb. 29, fortifies Arden Trust’s coverage capabilities by adding its eighth location and expanding 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.
Arden Trust Company (formerly Reliance) has 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, administering more than 5,000 trust accounts including Life Insurance Trusts and Special Needs Trusts.