As a result of this acquisition, Reliance will be launching a newly branded subsidiary, TMI Trust Company (TMI). Reliance Financial notes that the acquisition combines both the church and nonprofit corporate trust and individual retirement account business of its subsidiary, Reliance Trust Company, with that of Trust Management, Inc.
TMI will offer church and nonprofit corporate trustee services which include trustee, escrow agent, paying agent and registrar, loan fund administration, property management and real estate brokerage. The new subsidiary will also offer individual retirement accounts or IRAs (traditional, Roth, SEP plans, Coverdell Education Savings Accounts and rollovers into an IRA), personal trust and other fiduciary and agency services to its clients.
« GASB Makes OPEB Exposure Drafts Available