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Arden Trust Adds Northwestern Mutual Book of Business to Fortify Coverage Capabilities
Wednesday 04 March 2020

4 March 2020 - US limited purpose trust company Arden Trust Company (Arden Trust) has acquired Northwestern Mutual of Milwaukee's USD 400m trust business to strengthen coverage capabilities and expand geographic presence into the Upper Midwest, the company said.

Terms of the transaction were not disclosed.

Arden Trust Company (Arden Trust) is under the ownership of Kestra Financial, Inc. (Kestra Financial).

Arden Trust gained over 300 client relationships and three trust officers in a new office in Milwaukee. The acquisition is Arden Trust's eighth location.

Arden Trust Company has more than USD 7bn in assets under administration. Arden Trust has more than 90 employees in eight locations and accepts appointments as Agent for Trustee/Guardian/Executor, Co-Trustee, Custodian, Discretionary Trustee, and Directed Trustee for all types of personal trust accounts.

Arden Trust works with financial advisors to offer trust services that preserve the advisor/client relationship, administering more than 5,000 trust accounts including Life Insurance Trusts and Special Needs Trusts.

Kestra Financial, Inc. offers wealth management platforms for independent advisors nationwide. Kestra Financial is the parent company of Arden Trust Company, Bluespring Wealth Partners, LLC, and Kestra Investment Services, LLC.
Details
Date Published: 04/03/2020
Target: Northwestern Mutual of Milwaukee/trust business
Country: USA
Sector: Banking/Financial Services
Type: LBO
Financing:
Status: Closed
Vendor: Northwestern Mutual of Milwaukee
Buyer: Arden Trust Company
Comment:
Terms of the deal were not disclosed

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