Benefits of Trust Registration for RIAs and Wealth Advisors
Trust registration on the Document and Agency Registry and Clearinghouse by Illuminote (“DARCI”) provides many benefits to RIA/Wealth Advisory offices and their clients.
1) Better Client Relations
Living trust documents are still on paper. But financial institutions have all gone digital. There is a reason firms don’t work with paper stock certificates anymore. It’s slow and dangerous. Registering a living trust means the document is secured, encrypted, and impossible to forge. Your firm can assure clients that their legacy wishes will be honored and that their estate will be protected against fraud and costly legal battles.
2) Eliminate Trust Litigation
What if you could give the children of your clients the peace of mind that dad or mom’s estate won’t be subject to fraud and their inheritance will not be shared with attorneys? Trust litigation, whether it be litigation over control of a trust during a client’s life or fights over an inheritance after a client’s death, can mean millions of dollars in legal expenses. Not to mention ruined family relationships. Trust registration on DARCI can eliminate 75% of these types of cases and mitigate the other 25%. Using DARCI means a firm can assure their clients that their legacy wishes will be honored.
3) Demonstrate Your Advice is Better
Technology has leveled the playing field in the financial advice industry. Traditional differentiators such as portfolio management, retirement planning, estate planning, and tax strategies have all become commoditized. Even the newest RIA can now offer the services that once may have set your firm apart. How can you demonstrate your distinctiveness in this competitive landscape?
You can highlight a significant risk existing in your clients’ estates: vulnerable trust documents. With DARCI, you can swiftly showcase what sets you apart from the competition – safeguarding the documents that govern their assets, ensuring protection against loss, fraud, costly litigation, and strained family ties.