By: Kailey Boraas, CTFA, Trust Officer
Most of us are somewhat familiar with traditional banking services offered, such as, checking accounts, savings accounts, IRAs, loans, and so on. Some Banks also have a Trust Department, but what exactly does a Trust Department do? To name a few areas of service for our Trust Department, we have:
- Employer-Provided Retirement Plans,
- Investment Management,
- Serve as Trustee of a Trust, and
- Oil & Gas Management
These are the primary areas the Trust Department at First Western Bank & Trust services, we know they are a bit broad, but that’s because much of what a Trust Department offers can be personalized and catered to your specific needs and goals.
Such as the Employer-Provided Retirement plans, which includes administrating many different types 401K plans, which have different features that help your business attract and retain quality employees.
Whether you are looking for investment management services for your personal IRA(s) or for some excess dollars you have, the Trust Department provides professional investment services for all types of accounts. With our disciplined investment philosophy we employ strategies for the long-term strategic outlook for our clients and utilize our in-house portfolio management team to meet all your specific needs!
Then of course, there are our trustee services. There are many, many different kinds of trusts, all of which specifically pertain to the desires and family goals of those drafting the agreements. You might have the goal to support an elderly relative, make charitable gifts, management of your assets if you become incapacitated, create future security for a disabled loved one, provide long-term, professional, asset management to your family after your passing, or transfer assets to a younger generation under terms you specify. As your trustee, we are legally bound to follow your executed document. Our skill in trust administration ensures that you and your beneficiaries will receive professional asset management and comprehensive administrative services of the highest quality.
Lastly, First Western Bank & Trust employs a staff with extensive oil and gas experience, between managing royalty interests, working interests, non-operating interests, and overriding royalty interests, our team is dedicated to providing you with the highest quality of Oil & Gas Management.
Visit with a Trust Officer to see how we can service you and your family’s short and long-term goals!