Riverside National Bank's Trust and Investment Management services offer customers financial peace of mind.
Trusts are chosen for wealth management for many reasons, but at the core they all have one thing in common. An individual, looking for financial peace of mind, finds that relying upon a fiduciary such as Riverside is the surest path to that objective.
Although we offer a broad range of specially tailored trust services, many of our relationships began as pure investment management accounts. You are not required to establish a trust in order to use Riverside's investment management services.
A key advantage of Riverside is our ability to accept and properly handle trust and investment management accounts of less than $1 million.
Meeting your investment and financial goals begins with establishing a personal relationship in which we come to know and understand your individual needs and objectives. Only then can we develop a long-term financial plan.
Riverside Bank has helped generations of families and businesses navigate financial challenges. We work closely with you and other complementary professionals including, when appropriate, your attorney, accountant, and insurance provider. Using a team approach, we handcraft a plan to meet your unique needs and objectives.
Whether it's investment management, estate planning and administration, or a range of specially tailored trust services, we can help you achieve your financial goals.
For a personal appointment to discuss your needs, please contact:
Warren W. Borsch
800.565.8609, ext. 61219
Direct 772.219.9665
Trust.Services@riversidenb.com
NEW Portfolio Account Link (PAL) - Existing clients can click here to log-in and view accounts.
Investment Management
As your investment manager, Riverside National Bank partners with you to determine your investment goals keeping in mind your risk tolerance, tax considerations, income needs, and time horizon. We then agree on specific goals and objectives. Our fees are based upon the value of your portfolio, not commissions. This means we are totally objective in the decision making process. We employ the services of nationally known investment advisory firms to provide investment advice and research to us. The benefits to you include the following:
- The selection of an investment portfolio best suited to meet your investment goals
- The proper asset allocation formula (the type and percent of sticks, bonds, and money market instruments) for your portfolio
- Totally objective, conflict-free oversight
- Customer consultation at our offices or in the comfort of your home
- Security of doing business with a highly regulated financial service provider
To open an account, you sign a simple agreement designating Riverside as your agent and deliver the assets that you wish us to manage. You continue to own your securities, and you may add or withdraw funds or terminate your account at any time.
IRA Rollover
IRA Rollover accounts are available through the Trust Department to invest lump sum distributions from 401(k) plans and other employer provider qualified plans.
Trust Administration
Perhaps the single most important factor in the ultimate success of a trust-based wealth management plan is the choice of trustee for its supervision. A trustee's responsibilities are wide-ranging. By law, and subject to the specific terms of the trust document, the trustee may have remarkable power over the fate of the family fortune. Trust creators need to have confidence that such power will be exercised wisely.
There are many important, built-in benefits to choosing Riverside as your corporate trustee. For example:
- We treat estate and trust administratoin as a full-time job
- We have facilities, systems and trained professionals for asset management
- Trust funds in our care are doubly protected, both by internal audits and regulatory oversight by federal officials
- We have an unlimited life, while an individual may die, become incompetent, or just disappear
- We bring years of experience and group judgment to the job of investment management
- We treat beneficiaries impartially, and most beneficiaries appreciate that
Trust Responsibilities
When Riverside National Bank acts as trustee of a living or testamentary trust, we assume the following responsibilities on behalf of our customer:
- Prudent investment of trust assets
- Safekeeping of trust assets
- Distribution of trust assets as directed by the trust agreement
- Provide records of trust transactions
- Make tax decisions and file trust tax returns
- Issue monthly statements
- Schedule in person meetings to match client requirements
Estate Settlement
Riverside National Bank provides professional estate settlement services. Our staff works with our customers and their attorneys to preserve and protect estate assets and distribute them according to the terms of the will or trust that has been established. Our estate settlement services include:
- Inventory and valuation of estate assets
- Settlement of debts and expenses
- Preparation of decendent's final income tax returns
- Payment of fiduciary and income taxes
- Post-mortem tax planning
- Distribution of assets
- Management of remaining assets
- Written accounting of all actions as personal representative
Custody Services
Riverside National Bank specializes in providing custody services. In doing so, we hold assets in safekeeping for individuals, families, and organizations. In effect, we become your financial record keeper. Our custody services include the following:
- Customers can buy or sell securities through Riverside National Bank or their broker
- Dividend and interest payments are credited to customers' accounts on payable dates
- All excess cash is swept daily into an appropriate money market account
- Bill paying services
- All customers receive a monthly report listing all holdings and transactions in the account and should they desire, are provided the capability of viewing their account via the Internet
- All assets are held in book entry form at the Depository Trust Company in New York
Guardianship Account
When mandated by Court that a Guardianship be established, Riverside National Bank serves as guardian of property. This guardianship service is of utmost importance for seniors that are unable to manage their own affairs, individuals that are incapacitated due to illness or accident, as well as for minors when parents are deceased or unable to care for their child.
Benefits to the ward:
- Preserve and protect assets
- Bill payment service
- Accounting of assets for court approval as required
- Protection from unethical influences that may result in depletion of assets
Special Needs Trust
Provide a lifetime financial supplement for someone with a disability.
There are tools to help provide supplemental financial support for a disabled person, without jeopardizing qualification for government assistance. When trusts are created for this purpose, they must be drafted and administered in accord with government guidelines. Such trusts can provide for a variety of vocational and recreational services, supporting the individual's dignity and improving his or her quality of life.
When special needs trusts are administered by a corporate trustee such as Riverside, the assets receive professional management, and the beneficiary receives continuous financial protection.
