|By PR Newswire||
|January 23, 2013 09:15 AM EST||
CLEVELAND, Jan. 23, 2013 /PRNewswire/ -- The Private Trust Company, N.A. (PTC), a wholly owned indirect subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), today unveiled the next steps in its ongoing strategic expansion, building upon its strong organic growth in 2012. Going forward, the Cleveland-based trust administration specialist PTC will work closely with LPL Financial and its recently expanded range of high-net-worth capabilities to identify and capitalize on additional opportunities to serve clients in its target markets nationwide and to maintain the momentum generated by its strong growth in revenue and assets year-to-date. LPL Financial is the nation's largest independent broker-dealer*, a top RIA custodian, and a leading independent consultant to retirement plans.
Despite the economic downturn, PTC has experienced dramatic growth in the last 3 years, experiencing an increase in accounts administered by 25%. The company reported that its strong growth has been driven principally by the unique flexibility of its business model within the trust administration space, which emphasizes an open architecture approach with respect to wealth management, providing high-net-worth individuals and families with total flexibility and choice in selecting their own trusted financial advisors.
Bethany Bryant, who was named President of PTC in May 2012, said, "The trust and estates sector is witnessing a significant evolution as clients increasingly opt to work with independent advisors who can bring flexibility and customization to the management of trust assets. Today's high-net-worth clients with intergenerational estate planning needs don't want one-size-fits-all products or a limited universe of wealth management funds. PTC, with its open architecture model of fiduciary services, does not impose wealth management products or rigid models on our customers. Rather, we enable – and encourage – clients to maintain their relationships with their trusted financial advisors, while we serve as trustee or co-trustee. This enables financial advisors to provide a more robust offering of wealth management services and to better maintain intergenerational relationships when assets are held in trust and passed down to beneficiaries."
Andrew Putterman, Managing Director of High Net Worth Services at LPL Financial and Chief Executive Officer of Fortigent, said, "We are very proud of PTC's growth in 2012, and we look forward to working with Bethany and her team to build the business even further in 2013. With the additions of Fortigent and Concord Capital to LPL Financial, PTC is well positioned to capitalize on the new opportunities we are creating as it works to address the needs of high-net-worth families and individuals. We are excited to play an empowering role in the company's ongoing growth under Bethany's leadership."
In gearing up for the next stage of its expansion, PTC has hired Jack Keane, a seasoned finance and operations executive, as Vice President, Finance & Administrative Officer, and plans to bring on additional trust officers in 2013. Prior to joining PTC, Mr. Keane held executive positions at National City Corporation, where he was Chief Financial Officer for its Institutional Asset Management Division, and at KeyCorp, where he was Chief Financial Officer of The Victory Funds. Mr. Keane received an EMBA in Management from The Weatherhead School of Management, Case Western Reserve University, and a B.A. in Accounting from Siena College in Loudonville, New York.
Joining Mr. Keane, and in a step that further enhances its team, PTC also announced the hiring of Carolyn Neuner as Assistant Vice President and Trust Officer. In this role, Ms. Neuner will be responsible for the service and retention of trust accounts and wealth management clients, and will provide guidance and implementation of estate plans for intergenerational high-net-worth clients. Prior to joining PTC, Carolyn Neuner served as Vice President of Personal Trust Administration at TIAA-CREF Trust Company, and before then, Ms. Neuner had 31 years of experience across a number of senior trust and leadership roles at Bank of America, including serving most recently as Senior Vice President and Team Leader. Ms. Neuner is a Certified Trust and Financial Advisor, as well as a graduate of the National Trust School.
Additionally, PTC, which now employs 25 professionals, has recently expanded its office space by nearly 30% and renewed its lease in downtown Cleveland's Hanna Building to accommodate the anticipated growth. The company is also investing in its technology platform in order to support growth, and has commenced efforts to market its services in closer conjunction with local RIAs and the industry-leading high-net-worth offerings of LPL Financial, including Fortigent and Concord Capital Partners.
Ms. Bryant concluded, "We also benefit from the strong financial services infrastructure of our home city and headquarters, Cleveland. Cleveland's long history as an industrial center has resulted in a considerable base of intergenerational wealth, and the service industry that grew up around it created an exceptional talent pool in the estate planning arena. This makes Cleveland an ideal environment in which to continue to build our business. As Cleveland develops successful new industries in health care, art, education and other areas, we are pleased to contribute to the city's ongoing growth. In short, our unique and flexible business model, combined with our expertise, service and strong roots within the Cleveland financial services community, continues to drive growth and attract larger client relationships."
About The Private Trust Company
The Private Trust Company, N.A. (PTC) provides trust administrative services for over $935 million in individual and family assets, and also serves as custodian for $74 billion in IRA assets. Licensed in all 50 states under its 1995 national banking charter, PTC serves as trustee, co-trustee, or agent for the trustee while specializing in delegating investment management to financial advisors. This model allows for clients to utilize the experts at The Private Trust Company to provide professional trust administrative services while outsourcing investment management services. The Private Trust Company is a wholly owned subsidiary of LPL Financial Holdings Inc.
About LPL Financial
LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (NASDAQ: LPLA), is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine, June 1996-2012), a top RIA custodian, and a leading independent consultant to retirement plans. LPL Financial offers integrated technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to over 13,100 financial advisors and approximately 685 financial institutions. In addition, LPL Financial supports over 4,500 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have approximately 2,900 employees with headquarters in Boston, Charlotte, and San Diego. For more information, please visit www.lpl.com.
LPL Financial, A Registered Investment Advisor, Member FINRA/SIPC.
*Based on total revenues, Financial Planning magazine, June 1996-2012
This press release may contain forward-looking statements (regarding management expectations, strategic objectives, business prospects, financial results, and other similar matters) that involve risks and uncertainties. The words "anticipates," "believes," "expects," "may," "plans," "predicts," "will" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are not guarantees that future results, plans, intentions or expectations expressed or implied by LPL Financial Holdings Inc. or its affiliates will be achieved. Matters subject to forward-looking statements involve known and unknown risks and uncertainties which may cause actual results to be materially different than those expressed or implied by forward-looking statements. Important factors that could cause or contribute such differences include, but are not limited to, changes in general economic and financial market conditions, fluctuations in the value of assets under custody, effects of competition in the financial services industry, changes in the number of our financial advisors and institutions and their ability to effectively market financial products and services, the effect of current, pending and future legislation, regulation and regulatory actions, and the other factors set forth in Part I, "Item 1A. Risk Factors" in LPL Financial Holdings Inc.'s 2011 Annual Report on Form 10-K, which is available on www.lpl.com and www.sec.gov.
SOURCE LPL Financial LLC
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
Jun. 30, 2016 11:30 AM EDT Reads: 589
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Jun. 30, 2016 11:15 AM EDT Reads: 699
The U.S. Army Intelligence and Security Command (INSCOM) has awarded BAE Systems a five-year contract worth as much as $75 million to provide enhanced geospatial intelligence technical and analytical support. The award was issued under the INSCOM Global Intelligence indefinite delivery, indefinite quantity contract.
Jun. 30, 2016 11:00 AM EDT Reads: 548
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jun. 30, 2016 11:00 AM EDT Reads: 1,069
The idea of comparing data in motion (at the sensor level) to data at rest (in a Big Data server warehouse) with predictive analytics in the cloud is very appealing to the industrial IoT sector. The problem Big Data vendors have, however, is access to that data in motion at the sensor location. In his session at @ThingsExpo, Scott Allen, CMO of FreeWave, discussed how as IoT is increasingly adopted by industrial markets, there is going to be an increased demand for sensor data from the outermos...
Jun. 30, 2016 11:00 AM EDT Reads: 430
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
Jun. 30, 2016 11:00 AM EDT Reads: 457
Presidio Receives @EMCcorp Partner Services Quality Award | @ThingsExpo @Presidio #IoT #DigitalTransformation
Presidio has received the 2015 EMC Partner Services Quality Award from EMC Corporation for achieving outstanding service excellence and customer satisfaction as measured by the EMC Partner Services Quality (PSQ) program. Presidio was also honored as the 2015 EMC Americas Marketing Excellence Partner of the Year and 2015 Mid-Market East Partner of the Year. The EMC PSQ program is a project-specific survey program designed for partners with Service Partner designations to solicit customer feedbac...
Jun. 30, 2016 10:45 AM EDT Reads: 642
"Avere Systems is a hybrid cloud solution provider. We have customers that want to use cloud storage and we have customers that want to take advantage of cloud compute," explained Rebecca Thompson, VP of Marketing at Avere Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jun. 30, 2016 10:45 AM EDT Reads: 581
Dialogic has announced that ZVRS chose Dialogic® PowerMedia™ XMS software media server as part of its latest video relay and translation service offering. ZVRS uses Dialogic’s PowerMedia XMS technology to provide a robust solution that supports a broad range of legacy devices and any-to-any video capabilities with its flagship Z70 videophone. ZVRS selected Dialogic’s solution to facilitate a release of Z70 that met its stringent requirements for legacy device support (H.263 and H.264) with high...
Jun. 30, 2016 10:30 AM EDT Reads: 528
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
Jun. 30, 2016 10:30 AM EDT Reads: 551
So you’ve heard how click-to-call widgets can really enhance a website’s potential for customer interaction and you want to try it out for yourself. Or you’re considering offloading pieces of your VoIP infrastructure, but want to see how that would unfold first. Where can you find this technology, that’s free and available to try out? Spotting the potential in a space where customers can experiment with these types of features, Voxbone is launching The Workshop.
Jun. 30, 2016 10:30 AM EDT Reads: 436
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jun. 30, 2016 10:28 AM EDT Reads: 170
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
Jun. 30, 2016 10:15 AM EDT Reads: 971
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Jun. 30, 2016 10:00 AM EDT Reads: 526
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
Jun. 30, 2016 10:00 AM EDT Reads: 1,144
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Jun. 30, 2016 09:45 AM EDT Reads: 607
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, provided an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profession...
Jun. 30, 2016 09:33 AM EDT Reads: 179
The initial debate is over: Any enterprise with a serious commitment to IT is migrating to the cloud. But things are not so simple. There is a complex mix of on-premises, colocated, and public-cloud deployments. In this power panel at 18th Cloud Expo, moderated by Conference Chair Roger Strukhoff, Randy De Meno, Chief Technologist - Windows Products and Microsoft Partnerships at Commvault; Dave Landa, Chief Operating Officer at kintone; William Morrish, General Manager Product Sales at Interou...
Jun. 30, 2016 09:30 AM EDT Reads: 1,076
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, discussed how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He also discussed how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors ...
Jun. 30, 2016 09:00 AM EDT Reads: 1,179
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Jun. 30, 2016 09:00 AM EDT Reads: 425