Grand Junction firm to offer trust services

Marsha Harbert

Marsha Harbert

Staci Adleman

Staci Adleman

Doug May

Doug May

Phil Castle, The Business Times

Marsha Harbert and Staci Adleman expect to meet a need in providing a range of trust services in Western Colorado.

That includes services not only for large trusts and foundations, but also the smaller trusts that banks and other companies can be reluctant to take on, they said.

The response to the venture has been encouraging, said Harbert, president and senior trust officer with Two Rivers Trust Co. in Grand Junction. “We’ve had an overwhelming positive response.”

Harbert and Adleman expect to begin accepting business on Oct. 1. A grand opening celebration is planned for 11 a.m. to 3 p.m. Oct. 9 at their offices at  744 Horizon Court, Suite 350.

Harbert brings to the operation more than eight years of experience in trust administration as well as her work as a paralegal.

Adleman, vice president and senior trust operations officer, brings to her duties 26 years of experience in trust compliance  and financial services.

Harbert and Adleman will work with Doug May, who will manage trust investments. May serves as director of the Mountain West Region for Avant-Garde Advisors, a firm of independent investment advisors with offices in five states. May has more than 30 years of experience in investment portfolio management.

Harbert said Two Rivers Trust was launched to fill a need in Western Colorado for local trust services. The company can serve as a trustee in administering various types of trusts and also offers services as a financial conservator.

The company will handle not only large trusts, but also smaller trusts, Harbert said. That includes trusts established to benefit people with special needs, such as disabilities.

Harbert said there was a growing frustration among local lawyers in finding trustees to oversee their clients’ trusts. While some lawyers and accountants have served as trustees in the past, they’ve become reluctant to do so because of the liability involved and issues related to malpractice insurance.

While family members are sometimes named in trusts to serve as trustees, there are circumstances in which professionals might be better suited in that role, Harbert said. They can offer an objective perspective in carrying out the terms of the trust and serving as a gatekeeper of sorts for funds in the trust.

Depending on the size and complexity of a trust, the work of a trustee can be difficult and time-consuming. Moreover, a trustee assumes a fiduciary responsibility to the beneficiaries of a trust, she said.

Harbert and Adleman said they offer services that can be tailored to the unique circumstances of each trust relationship.

For more information about Two Rivers Trust Co., call 628-1944 or send an e-mail to marsha@tworiverstrust.com or staci@tworiverstrust.com.

Phil Castle is editor of the Grand Valley Business Times, a twice-monthly business journal published in Grand Junction. Castle brings to his duties nearly 30 years of experience in editorial management positions with Western Colorado newspapers. In addition, his free-lance work has appeared in a variety of publications, including the Washington Post. He holds a bachelor's degree in technical journalism from Colorado State University.
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Posted by on Sep 23 2015. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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