The rebrand of Mid Atlantic Trust Company to American Trust CustodySM is part of the previously announced launch of AmericanTCSSM, which brings together all of the trust, custody, retirement, wealth, and technology operations of EdgeCo Holdings under a single umbrella.
PITTSBURGH, PA (BUSINESS WIRE) — Mid Atlantic Trust Company, a non-depository trust company and a leading provider of trust and custody solutions for benefits administrators and financial institutions, announced today it is now doing business as American Trust CustodySM. The transition to the American Trust Custody name for this business is part of the recently announced creation of AmericanTCSSM in November 2022, which combines the trust, custody, retirement, wealth, and technology operations under a single umbrella, EdgeCo Holdings, LP, has acquired since 2018. The businesses that comprise AmericanTCS are currently doing business as American Trust Custody, American Trust Retirement, American Trust Wealth and American Technology Automation. In total, these businesses service over $120 billion in assets as of December 31, 2022.
“The launch of AmericanTCS was a key achievement for EdgeCo Holdings in 2022, as the brand reflects the full breadth of the trust, custody and retirement offerings we have all worked so hard to bring together over the past couple of years,” said Paul Schneider, CEO of EdgeCo Holdings and CEO of AmericanTCS. Mr. Schneider continued, “Now, as we continue to come together as one organization, providing our customers with one experience across multiple capabilities and platforms, rebranding of our trust and custody service to American Trust Custody clearly articulates to the industry how all these pieces fit together as we all work together to achieve what everyone should be focused on — ensuring that all Americans can have a financially secure retirement.”
American Trust Custody provides benefits administrators and financial institutions with first-class trust and custody solutions as well as fiduciary services, IRA administrative solutions, participant distribution services and cash deposit alternatives. With a commitment to providing the best services in the industry, American Trust Custody offers a wide range of services to its over 200 industry partners. Benefits administrators can take advantage of a comprehensive set of portfolio tools and conflict-free investment products that will save them time and money when managing existing plans and give them features that will increase their chances of winning new business.
“We built our reputation as Mid Atlantic Trust Company around our long-held philosophy of combining the ethic of relationship-centric customer service with a sharp focus on advancing technology. Those things are not changing,” commented Tim Friday, American Trust Custody CEO and President of EdgeCo Holdings. “The rebrand to American Trust Custody will allow us to better align the trust and custody services with the AmericanTCS mission and reflects our commitment to expanding our reach and better serving our diverse national client base.”
AmericanTCS and its businesses collectively date back almost 40 years and provide industry-leading financial services to the American workforce. AmericanTCS delivers a wide array of custody and trust, retirement services, wealth management, and technology software automation to a diverse national client base through its businesses. With over $120 billion in assets custodied, $17 billion in recordkeeping assets, and $1.6 billion under wealth management and fiduciary services, all of the operations that comprise AmericanTCS share a common mission: to create financial security for all Americans. To learn more, visit www.americantcs.com.
About EdgeCo Holdings
Through its AmericanTCS and NewEdge Capital Group divisions, EdgeCo Holdings is a premier provider of best-in-class, technology-enabled solutions for financial intermediaries and their clients. For over four decades, EdgeCo companies have provided a suite of technology and support services, including full-service retirement plan administration, brokerage, advisory, and trust and custody services to a diverse national client base of financial intermediaries. This client base includes registered representatives, investment advisors and other financial intermediaries, including retirement plan recordkeepers, TPAs, bank trust departments, broker dealers and insurance companies. EdgeCo Holdings currently services approximately $150 billion in client assets under custody or administration and more than 10,000 financial advisors and 500 financial institutions.