May 24, 2017
The Origins of Legacy Private Trust

The Legacy Private Trust experience is fundamentally different than what you would get at any other trust company or law firm with trust operations. Our model was specifically designed to combat against the changes in the trust industry that resulted from the consolidation of trust companies in the 1980s and 1990s.

As more and more trust companies were acquired and merged, service levels began to drop rapidly. It was not uncommon to be on hold with a “1-800” number for ages before speaking to your account manager. Consistency and continuity were the next to go as employee turnover at the big institutions assured that no one was familiar with clients or understood their situations. Following that, fiduciary services started to be linked to other financial services such as wealth management and began to move away from core fiduciary services.

As lawyers who had to use trust companies regularly, it was the last straw for the founders of Legacy Private Trust when their own clients started to be rejected by the large trust companies because they didn’t fit into the new stringent formulas. It quickly became obvious to the founders that no one could provide them or their clients with even the most basic level of customer service that they deserved.

The founders of Legacy Private Trust came to the conclusion that the only solution was to start their own trust company. Thus a new company was born out of an unwavering belief in expertise, service, flexibility and continuity. Our model represents a renaissance in the trust industry in Canada. Legacy Private Trust brings things back to basics.