McDonald Partners LLC Announces Strategic Alliance with New York Private Trust

CLEVELAND--(BUSINESS WIRE)--McDonald Partners LLC today announced the formation of McDonald Trust Services, a division of New York Private Trust Company, a Delaware chartered trust company and subsidiary of Emigrant Bancorp, Inc. New York Private Trust Company will provide McDonald Trust with a comprehensive suite of fiduciary services.

“The addition of New York Private Trust’s offerings enhances our company’s wealth management capabilities by expanding our already considerable suite of investment advisory services. McDonald Trust Services clients will realize significant financial and administrative benefits.”

New York Private Trust Company also will provide McDonald Trust Services administrative services including custody of fiduciary assets, preparation and filing of fiduciary tax returns, record keeping, statement generation, fiduciary oversight, and maintenance of client fiduciary relationships.

Personal trust services provided by McDonald Trust will include irrevocable and revocable personal trusts, asset protection trusts, credit shelter trusts, generation skipping transfer trusts, dynasty trusts and irrevocable life insurance trusts.

Tom McDonald, founder and CEO of McDonald Partners, said, “The addition of New York Private Trust’s offerings enhances our company’s wealth management capabilities by expanding our already considerable suite of investment advisory services. McDonald Trust Services clients will realize significant financial and administrative benefits.”

Richard Trumpler, chief operating officer of New York Private Trust, said, “New York Private Trust is well positioned to provide McDonald Trust Services and its clients with superior trust and estate administration services, while allowing the McDonald advisors to continue to manage their clients’ investments. We look forward to building an exciting future with Tom and the rest of the McDonald team.”

About McDonald Partners LLC

McDonald Partners LLC is a Cleveland, Ohio based broker/dealer and Registered Investment Advisory firm. The company employs 30 professionals including 17 financial advisors with offices in Ann Arbor, Michigan; Toledo, Ohio; Palm Beach, Florida; and Lawrenceville, New Jersey. Total client assets approximate $1.2 billion. Visit website at www.McDonald-Partners.com.

About New York Private Trust Company

New York Private Trust Company is a Delaware chartered trust company and is a subsidiary of Emigrant Bancorp, Inc. NYPTC provides a full array of traditional personal trust and estate administration services through its office in Wilmington, Delaware. Its Delaware location, charter and expertise allow it to take full advantage of Delaware law. Visit website at www.nyptrust.com.