NASHVILLE, Tenn.--(BUSINESS WIRE)--Cumberland Trust, an independent corporate trustee with nine offices serving clients in 48 states, today announces that it has surpassed $3 billion in assets under administration, a major milestone and a sign that the firm’s unique, collaborative approach has been enthusiastically embraced by clients and business partners alike.
“This milestone means families are trusting us to put their legacy in our hands,” said Joseph K. Presley, Chairman, President and CEO of Cumberland Trust. “As a firm we are focused on people, their needs, and their values – and that has resonated. Most importantly to us, growth simply means we are helping more and more families. We’re humbled and thankful by reaching this mark.”
Cumberland Trust began in 2001 in Nashville as a firm specializing in trust and estate administration. Since it focused exclusively on being a corporate trustee, not a financial or legal advisor, it opened the door for collaboration with advisors across the country. This model uniquely allows advisors to offer best-in-class corporate trustee services to its clients through Cumberland Trust, without having to worry about service overlap or redundancies.
Cumberland Trust’s model has resonated throughout the industry. The firm finished with just over $6 million at the end of its first year to now more than $3 billion. In that time, it has expanded its national footprint to include offices across the country and grown its employee count from four individuals at its start to more than 100 people in 2018.
In addition to Nashville, currently, Cumberland Trust has offices in Atlanta, GA; Austin, TX; Chattanooga, TN; Dallas, TX; Knoxville, TN; Memphis, TN; St. Louis, MO; and Tampa-St. Petersburg, FL.
For more information on Cumberland Trust and how it works with advisors and for clients, visit: http://cumberlandtrust.com/.