No, The Trust Company remains fully independent—there is no ownership change or structural shift taking place. What is changing is the vendor we use for our custodial relationship. A custodian is similar to a bank account—it’s the institution we contract with to safeguard your investment assets and facilitate transactions such as buying or selling stocks and bonds to and from Wall Street.

Currently, we work with two custodians to meet our clients’ needs. By transitioning to Schwab’s custodial services, we’re consolidating to a single provider. This move will streamline operations and provide meaningful upgrades in technology and efficiency—benefits we’re excited to bring to our clients.

It’s important to note that we are not affiliating with Schwab’s retail investment advisory services, nor is Schwab acquiring us. We’re simply using their custodial platform—the same type of behind-the-scenes service we’ve always relied on, just now through a more widely recognized name.

We know “Schwab” may bring to mind their branches, investment products, or financial advisors. But our relationship is solely with the institutional side of Schwab that serves independent firms like ours, allowing us to enhance our service while remaining fully aligned with our fiduciary duty to you.