In Perspectives

At Legacy Trust, we provide wealth management, trust and family office services to individuals and families in West Michigan, designed to meet the needs of our current and prospective clients.  This has led us to develop specialties and expertise in several different areas of wealth management.

When meeting with prospects and centers of influence, one of the questions we hear most is “Who is your typical or target client?”  It is a question we relish and we spend much time discussing this topic internally.

Inside wealth management, our services are directed toward business owners, executives, retirees and high net worth individuals with investable assets over $1,000,000.  We work with business owners to plan the next phase in their lives after they sell their company.  We work with executives that are ready to pursue their passion.  We work with high net worth individuals who value professional advice and a partnership.  Investment management is at the core of our wealth management offering and it is what Legacy Trust is most well-known for doing.  We also offer financial planning and consulting services on a wide range of matters related to wealth management.

In order to act as a trustee in Michigan, you must be an individual or a bank.  We organized as a bank specifically to have these “trust powers” to serve in different fiduciary capacities; sole trustee, co-trustee, directed/delegated trustee to name a few.  Many families will name Legacy Trust to serve as a co-trustee with a trusted family member.  We take on the task of administering the trust and managing investments, while the family member provides insight into the family dynamic and communicates the needs of each beneficiary.  We also partner with Registered Investment Advisors (RIA’s) to serve as a directed or delegated trustee on relationships needing a corporate trustee.  The RIA’s continue to manage the client’s investments and the relationship.  Legacy Trust focuses on providing the fiduciary oversight by leveraging our corporate “trust powers.”

Our family office services are continually evolving and are a large source of our growth.  The highly customized services are designed to provide simplicity, collaboration and value.  I cannot speak enough about the work of our family office and we are very lucky to have them as a part of Legacy Trust.

Our clients are serious about their financial well-being.  They are stewards of their families, their businesses and their communities.  They are forward thinking.  They have been through periods of stock market volatility and they too have moments when they feel nervous.  We are a family at Legacy Trust and we approach the issues our clients face as if they were our own.  We know their fears, their concerns, and the obstacles in their path.  Our success is determined by our ability to meet the needs of our clients and their willingness to have us as their partner in their financial journey.  Our interests are aligned with those of our clients.

We, the employees of Legacy Trust, work for our clients.  Our paystubs tell us otherwise, but we know why we are here, what we do and who we truly serve.

Legacy Trust and Your Right to Financial Privacy

At Legacy Trust we have established policies and practices that respect the financial privacy of all individuals who use our trust company. We believe it is critical to comply with the laws and regulations designed to secure your financial privacy. Your relationship with us as our client is very important to us, and we want you to understand our policies and practices about handling your information.

This Policy applies to you – This Policy applies to our relationships with individual clients who inquire about or obtain products or services from us for personal, family and household purposes.

Strict security measures – We take the security of information very seriously. We have established security standards and procedures to prevent access to client information. We maintain physical, electronic and procedural safeguards to guard client information.

Limited employee access – We have established procedures to limit employee access to information to only those employees with a business reason for accessing such information. We educate our employees about the importance of confidentiality and client privacy. We take appropriate disciplinary measures to enforce employee responsibilities regarding client information.

Why we collect information – We collect information about you to:

  • accurately identify you;
  • protect and administer your records, accounts and funds;
  • help us design or improve our products and services;
  • understand your financial needs;
  • save you time when you apply for new products and services; offer you quality products and services; and comply with certain laws and regulations;

We collect information – We collect and maintain your personal information so that we can provide investment management and other services to you. The types and categories of information that we collect and maintain about you include:

  • Information we receive from you to open an account or provide investment advice or other services to you (such as your home address, social security number, telephone, financial information and investment objectives).
  • Information that we generate to service your account or from our transactions with you (such as account statements and other financial information).
  • Information on your transactions with nonaffiliated third parties.

We have established procedures so that the financial information we collect is accurate, current and complete. We are committed to work with you to promptly correct any inaccurate information.

Our selective sharing of information – In order for us to provide investment management and other services to you, we do disclose your personal information in very limited instances, which include:

  • Disclosures to nonaffiliated companies as permitted by law, including those who help us service your account (such as providing account information to brokers and custodians).
  • Other limited disclosures as permitted by law, for example, required reports to government entities.

We do not share your information with third parties for marketing purposes. We do not sell your information.

Former clients – If you end your relationship with us, we will continue to adhere to the privacy policies and practices described in this notice.

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USA PATRIOT Act

Important Information About Procedures For Opening A New Account

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

We apologize for any inconvenience this may cause; however, federal law prohibits us from waiving these requirements.

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