In Perspectives


Last December, my wife presented me with a Shinola watch for my birthday.  I wasn’t that familiar with Shinola other than knowing the company was based in Detroit.   I was initially drawn to the packaging of their product, which spoke of elegance and craftsmanship.  The handmade wooden box was adorned with an engraved metal tag detailing the name of the watch builder and the series number of the product.  A small container of leather balm was enclosed to assure the longevity of the hand-stitched watch band.  The product’s distinctive packaging was obviously designed to convey Shinola’s intended upscale brand.

Unlike watches, financial services are not tangible goods, but each firm’s brand can be conveyed by how it packages and delivers its services.   For Legacy Trust, our brand lies in the successful delivery of an exceptional client service experience.  It starts with something as simple as assuring each incoming telephone call is answered by a human being, followed by frequent, proactive communications, and an unwavering principle of always serving the clients’ needs above all else.  Each step of the Legacy Trust client experience is designed to leave the impression that they are the firm’s most important client, irrespective of size, and that our entire team is dedicated to serving their financial needs now – and into the future.

Over the past year, I became more curious about Shinola and began surfing their website, reading articles about their origin and ultimately began following them on Twitter.  The more I read, the more I was impressed with their focus on tradition.  In 2012, Tom Kartsotis, an accomplished entrepreneur, made the decision to counter the mass-produced goods, primarily imported, by creating a hand-crafted, American-styled watch that would revive the American manufacturing legacy.  Everything from the company’s distinguished name (formerly a maker of shoe polish) to the chosen manufacturing location in downtown Detroit bespoke tradition.

Over thirteen years ago, the founders of Legacy Trust decided to counter the financial industry’s increased focus on product sales (mass-produced) primarily led by large companies headquartered outside of Grand Rapids (imports).  The name Legacy was specifically chosen to honor the tradition of families handing down wealth and values.  In addition, Legacy Trust’s competitive advantage was not only our Grand Rapids location, but our purposeful intent to honor the traditions of those former Grand Rapids banking giants who over time had developed stellar reputations for their integrity and zeal to deliver the best products and service to their customers.

This special gift from my wife has now adorned my wrist for almost a year.  It is a daily reminder that quality matters in whatever you do, whether you are building watches or partnering with families to build and preserve their legacies.

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.


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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Do not send sensitive information over email. If you need to communicate sensitive information, please call us at 616.454.2852


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