Trust Services and SIMPLIFY
The CEO’s Perspective: An Interview with Nick Stonestreet
recently interviewed Nick Stonestreet to discuss the inception of Ronald Blue Trust and his perspective on how it benefits clients.
Why have Thrivent Trust Company and Ronald Blue & Co. joined together to form Ronald Blue Trust, an expanded trust organization?
Not only do the two organizations share aligned missions, they also share the belief that when people make financial decisions that are consistent with their values, they will experience a healthier relationship with money and be inspired to live a more generous life. Ronald Blue & Co. had a 37-year client service model and principle-based philosophy. Combined with Thrivent’s ability to offer trust services, Ronald Blue Trust brings to market a vibrant Christian trust company solution that we believe is essential to serving our clients comprehensively over the long term.
How and when did discussions start?
As a fiduciary, Ronald Blue & Co. was always looking for ways to expand their current service offering. About two years ago, they came across a unique opportunity with Thrivent Financial. They determined that a transition to a trust platform through a partnership with Thrivent would benefit their clients as well as preserve the passion, mission, and vision that their clients really value. This was an opportunity for the two companies to further the shared ministry of helping clients achieve financial contentment through generous living and wise stewardship.
What are the benefits of a trust company?
A trust company allows more options to serve client needs than the traditional registered investment adviser (RIA) model. In a trust company, advisors continue to have fiduciary responsibility to their clients but also offer fiduciary services and solutions extending beyond financial planning and investment advisory services. A trust company structure enables expanded product and service offerings as well as the ability to impact multiple generations through:
Serving as trustee. The trust company can be named as trustee in trust agreements and testamentary trusts in estate planning documents.
Helping to leave a legacy. We can help our clients steward their wealth while they are living and after they are gone.
How does this opportunity benefit Ronald Blue Trust clients?
We now have an offering for clients who want to integrate their faith with their finances through a broader range of fiduciary services and solutions. As I mentioned, we have enhanced our ability to serve and impact multiple generations of family members as trustee. This allows us to meet our clients’ evolving needs better than ever before.
How does this opportunity benefit Thrivent Financial?
It allows Thrivent to continue to accelerate its mission of helping more Christians be wise with money and live generously by enabling them to serve clients across a broader wealth and geographic spectrum.
As CEO of the new trust company, how do you feel about embarking upon this new venture?
I’m excited to lead a company that employs biblical principles and serves a significant community while encouraging clients to live generously. Before Ronald Blue Trust existed, there was a void in the financial services industry for those who have significant surplus to pass down not only their wealth but also their values. Unlike typical RIAs, the trust platform gives us a strong capital base, allowing us to think long term for our clients’ posterity (future generations). Ultimately, my excitement about this transition revolves around our ability to serve our clients more meaningfully across generations. That is what matters most.
August 22, 2017
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