Reliance Trust Establishes Wealth Management Beachhead in Wilmington, North Carolina

WILMINGTON, N.C.--(BUSINESS WIRE)-- Reliance Trust Company, an Atlanta-based financial services company, announced today that it has formed a new joint venture, Reliance Asset Advisors, LLC to serve the trust, wealth management and financial service needs of the Greater Wilmington, North Carolina market. This new joint venture has been started in partnership with several long-time Wilmington business leaders.

“The formation of Reliance Asset Advisors is the manifestation of Reliance Trust’s long stated strategy of developing a direct retail presence in key Coastal markets throughout the South East. We believe that markets such as Wilmington are currently underserved and present a great opportunity for Reliance which is big enough to provide all the needed products and services and small enough to provide the kind of personal service that clients want and demand,” said Anthony Guthrie, president of Reliance Trust. “In addition, we have found tremendous local business partners who desire a more personalized approach to delivering financial services who share our belief in the future of Wilmington.”

It is the stated goal of Reliance Asset Advisors to provide access to best in class financial services and wealth management products and services while bring the highest levels of customer service to the market place. Services will include:

• Investment management services
• Local Trust services and Administration
• Financial planning services
• Retirement services to include 401(k) rollover and IRA services.

“We are excited about our entrance into Wilmington,” said Andy Crane, Managing Principal of Reliance Asset Advisors. “We have spent several years evaluating how we could expand our proven lines of business and leverage the success we have already experienced in other areas of the country. The formation of Reliance Asset Advisors, in conjunction with Reliance Trust, perfectly fits our goals in that direction. We are pleased to have strong partners who share our vision and mission. Given the current impact of mergers, consolidations and closings the time is right for a new provider.”

Wilmington partners include Harold W. Wells, III and Mort Neblett.

The office is located in downtown Wilmington at Three North Third Street in the Wells Insurance building.

Reliance Financial Corporation is a privately held, Atlanta-based, diversified financial services and wealth management company with more than $65 billion in assets under management and administration. Reliance conducts business throughout the United States through its trust company (one of the largest independent trust companies in the country) subsidiaries and affiliated offices. Reliance offers a full array of outsourcing, wealth management, investment and trust and asset management services to individuals, corporations and institutions, as well as to other banks, brokerage firms and insurance companies. Please visit www.relico.com for information on all of the company’s programs and services or call 910-338-2900.

Reliance

Tony Greene, 678-274-1693

[email protected]

Source: Reliance Trust Company