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Bank trust department |
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Bank trust department Bank department that deals with estates, administers trusts, and provides services such as estate planning advice to its clients. Bank trust department A division of a bank that administers trusts, guardianships, and estates. It also may serve as a trustee for certain corporate bonds and pensions. Importantly, a bank trust department may manage the assets of customers who request it to do so. This is most often utilized by elderly persons with no next of kin, who allow the bank to handle their finances in case of illness and/or incapacity. Bank trust departments tend to be conservative and risk-averse in their investment decisions, making them attractive money managers to certain investors. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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But Wells Fargo Bank Trust Department, which manages the building owned by the Hunt Family, is raising the rent to match the $9 to $10 a square foot many landlords are getting on the Promenade. An approach focused on the bank's aggregate trust and fiduciary activities is consistent with the nature and operations of bank trust departments and would--in conjunction with the act's prohibition on banks publicly soliciting brokerage business apart from their trust and fiduciary activities--effectively prevent banks from running a full-scale brokerage operation out of their trust departments. Antonini also recommends that you skip having a corporate entity, such as a bank trust department, take on the role. |
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