ATLANTA, Dec. 9, 2010 /PRNewswire/ -- Reliance Financial Corporation announced today that its subsidiary, Reliance Trust Company (Reliance Trust), has been named a preferred provider of personal trust administration services for clients of UBS Financial Services Inc., one of the leading wealth management and brokerage firms in the U.S.
As part of a strategic alliance between the two firms, Reliance Trust will offer trustee, trust administration, and related fiduciary services through UBS Financial Services' network of nearly 7,000 advisors. UBS Financial Services will act as custodian of the trust assets. Reliance Trust will leverage the robust open architecture of the UBS' investment management platform.
The agreement reflects UBS Financial Services' desire to provide its advisors with expanded options for offering professional trust services. "This agreement will enhance our ability to offer a diverse choice of trustee services to our clients and financial advisors," said Kevin Ruth, managing director, UBS Financial Services.
"Our greatest assets as a business have always been our reputation and our relationships, so it's extremely gratifying to have them validated by one of the country's leading financial services organizations," said Michael E. Roberts, executive vice president, Reliance Trust Company. "We are excited at the prospects of this partnership and look forward to bringing value to UBS Financial Services clients for many years to come."
Reliance Trust plans to open representative offices in key regions to service UBS advisors and their clients. To help promote the new enhanced service offering, Reliance Trust will work closely with UBS Financial Services advisors and their clients, educating them about the value of trust services in helping achieve long-term investment goals.
About Reliance Financial Corporation
Reliance Financial Corporation is a privately held, Atlanta-based, diversified financial services and wealth management company with more than $73 billion in assets under management and administration. Reliance conducts business throughout the United States through its trust company (one of the largest independent trust companies in the country) subsidiaries and affiliated offices. Reliance offers a full array of retirement plan, outsourcing, wealth management, investment and trust and wealth management services to individuals, corporations and institutions, as well as to other banks, brokerage firms and insurance companies. Please visit www.reliance-trust.com for information on all of the company's programs and services or call (404) 266-0663.
SOURCE Reliance Financial Corporation