Trust Rotation
Trust Time!
One aspect that sets Parkside aside from all of its competitors is its interactive partnership between clients and team. Parkside’s trust team works hard to follow and actively manage family trusts, ensuring all expectations and goals are met, if not exceeded. The trust office sees through the eyes of the client, providing detailed and systematic plans that are catered toward each individual client. Our week spent with the trust team flew by, but it was full of getting to know the trust team and new information about the different trust services Parkside provides.
Projects & Activities
Innotrust Holdings & Synopsis
Vendor Due Diligence
ILIT Analysis Project
Trust 101
Trust Team Lunch
Trust Competitor Project
Our Experience
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Our first full week at Parkside started with a meeting from Angie and Kyle where we learned about what a trust can do and the bank’s role in enacting a trust. It was super interesting to see the level of responsibility that comes with these roles, and how the Trust team adheres to such high standards. I liked learning how the team balances compliance and getting the best deals for their clients; I also enjoyed hearing about the client relationships that Kyle and Angie diligently work to build. On Tuesday, we had the pleasure of going to Five Star burger with the hilarious Trust team, and we got to hear about some job highlights. This week, I feel like I gained understanding of not only what a trust does, but also valuable advice for building my own future trust. We’re starting to fall into the swing of things at Parkside, and I look forward to the weeks ahead!
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The second week of our internship was our trust rotation, and with it came lots of opportunities to meet new people and learn more about the industry. This was my first exposure to trusts and Kyle’s “101” was a great introduction to what they are, how they’re used, and what he and the rest of the team do on a day-to-day basis. Later in the week we met with Curtis Searcy, who expanded on Kyle’s presentation and answered any questions we had, particularly noting the career progression and client relationships of people in the industry. We also worked on a number of trust-related projects, the most exciting of which was a competitive analysis focused on identifying how Parkside compares to other trust companies in the St. Louis and Midwest area.This week served as an excellent
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To say that the Parkside trust team is a lively bunch would be an understatement. Every conversation we had with trust brought jokes and laughter and made for a good time. On Monday, Kyle took us through Trust 101, explaining the basics of what a trust is and how it operates and what a day-to-day life in the trust office is like. Trusts are not a commonly approached subject in your regular college business classes, so I am happy we had the opportunity to learn about them. We had the chance to read and analyze a real trust document, and were responsible for vetting the investment management firms on the trusts that Parkside serves as an administrative trustee on. On Thursday, we were able to meet with Curtis Searcy, who answered any and all questions we had about trust or wealth management, and tasked us with a rather fun competitive analysis project for other trust service-providing companies in Saint Louis. I came into this week excited, but unsure what to expect as I was not particularly familiar with how a trust office operates, but my few expectations were thoroughly exceeded and I now feel confident in my ability to explain what the trust office at Parkside does. Thanks Trust!
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The Trust rotation was the perfect rotation to start with because of how enthusiastic and fun the Trust team at Parkside is. Additionally, Kyle took us through the Trust 101 presentation, which taught me reasons for a trust to be created and multiple strategies to minimize taxes and maintain more control over an estate through trusts. We had the privilege of working with real trust documents and hearing stories from Parkside’s Trust team about navigating different family dynamics. Parkside’s TFO President, Curtis Searcy, also sat down with us and answered any of our questions about a career in trust services and wealth management. Finally, the trust competitor project involved researching trust services at competitors of Parkside to improve Parkside’s trust marketing. Overall, my own understanding of the best practices when creating and carrying out a trust greatly increased, and the entire week was filled with fun thanks to the outgoing Trust team.
