Manage Irrevocable Trust Assets—Without Becoming the Trustee
Too often, trust planning means one thing for advisors: lost assets and lost relationships.
Prairie Trust changes that.
Under the Wisconsin Trust Code, Prairie Trust offers advisor-friendly directed and delegated trust solutions that allow you to retain investment management, deepen client relationships, and even acquire trust assets currently managed by a corporate trustee—without the conflicts that typically come with trust companies.
Prairie Trust handles trust administration. You, as the advisor, stay in control of the investments.
Why Partner with Prairie Trust
Most corporate trustees compete directly with advisors for asset management. Prairie Trust does not.
• No proprietary investment products
• No incentive to “poach” assets
• Rarely requires custody of trust assets
• Built to complement—not replace—your role
We believe advisors who have built long-term client relationships are best positioned to manage investments. Our role is to support that relationship, not disrupt it.
Grow Your Practice with Trust-Friendly Solutions
Supporting trusts allows you to offer truly holistic advice—while protecting and growing your business.
With Prairie Trust, advisors can:
• Retain assets that might otherwise move to a corporate trustee
• Acquire trust assets currently managed elsewhere
• Expand services to high-net-worth and multi-generational clients
• Increase client satisfaction through coordinated trust planning
Trusts no longer have to be a threat to your AUM—they can be a growth opportunity.
Directed vs. Delegated Trusts: Choose the Right Fit
Directed Trusts
A directed trust allows the trust creator to assign investment management to an outside advisor. What this means for you:
- You manage the trust investments
- Prairie Trust administers the trust
- The trustee is required to follow your investment directions
- Clear separation of duties and reduced friction
This is often the preferred structure for advisors who want to maintain full control over investment decisions.
Delegated Trusts
In a delegated trust, the trustee appoints and oversees the investment advisor. Why clients choose this option:
- You continue managing investments
- Prairie Trust retains oversight responsibility
- Added fiduciary monitoring can increase client confidence
For some clients, this additional layer of accountability reinforces that their long-term interests come first.
How Advisors Acquire and Retain Trust Assets
Advisors who take a holistic approach naturally uncover trust opportunities during regular client reviews. Start by asking simple questions:
- Are you satisfied with how the trust is managed?
- Is the trustee responsive and easy to work with?
If concerns surface, a natural next step is asking if your client would like a second opinion from Prairie Trust to help ensure their trust is aligned with their goals.
Review the Trust Document
Access to the trust document is critical. Focus on:
- Who is serving as trustee
- Whether a corporate trustee is involved
- Provisions for trustee removal or replacement
These details often determine how easily assets can transition.
Transitioning Trusts Is Often Easier Than You Think
If the trust allows removal of a corporate trustee, the process is typically straightforward. The current trustee is notified, and Prairie Trust accepts appointment as successor trustee—allowing you to manage the investments.
Even when removal language is absent, the Wisconsin Trust Code provides paths forward. Beneficiaries may request resignation, or courts may appoint a new trustee when appropriate.
Partner with Prairie Trust Today!
If you want to protect your client relationships, preserve AUM, and expand your advisory offering, Prairie Trust is ready to help. Talk with our trust experts today to explore your options.
For more information, contact me today!
Terry Doyle
Vice President - Director of Fiduciary Sales
(262) 953-2435
Email Terry | Meet Terry | Terry’s Bio
Frequently Asked Questions
Do I give up investment control if a trust is involved?
No. With a directed trust, you retain full investment authority. With a delegated trust, you continue managing investments under trustee oversight.
Will Prairie Trust take custody of the assets?
In most cases, no. Custody is only required when necessary for proper trust administration.
Can I acquire trust assets currently managed by another corporate trustee?
Yes. Many advisors successfully transition trust assets when clients are dissatisfied or when trust documents allow for trustee replacement.
What if the trust doesn’t allow removal of the current trustee?
The Wisconsin Trust Code provides mechanisms for beneficiaries to request trustee resignation or court-appointed replacement in appropriate circumstances.
Is this only for Wisconsin-based clients?
No. Prairie Trust can administer trusts in most states. While the Wisconsin Trust Code governs these structures, Prairie Trust can work with advisors and clients nationwide, depending on the trust’s governing law.