Trustee and Investment Advisor Relationship Arrangement (TIARA)

At First Midwest Bank, we recognize that estate planning can become confusing, especially when an individual wants to retain the services of an existing investment advisor. Under these circumstances, First Midwest Bank will agree to take on the trustee role, structuring the trust with the appropriate language to shift the fiduciary responsibility from the trustee to the investment advisor. This Trustee and Investment Advisor Relationship Agreement (TIARA) is a directed trust service that allows the investment decisions to be made by the investment advisor1 while First Midwest Bank retains custody of the assets. The procedures for trading securities will be dependent upon the platforms used by the advisor, but First Midwest can provide the means to execute trades on behalf of the trust, whatever the situation.

Our comprehensive trust administration handles principal and income accounting, discretionary distributions, collection of rents and expense payments, and loan documentation (if required). All assets – including real estate, private placement, and non-traditional assets – can be combined into one statement, providing the advisor and beneficiaries a consolidated picture of the trust assets. Additionally, professional Wealth Management Officer2 are available to help with the administration and recordkeeping tasks, as well as personally handle requests from the beneficiaries.

Advisors who are interested in finding out more about our Trustee and Investment Advisor Relationship Arrangements should contact a First Midwest Wealth Management Officer for more detailed information about this service.

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Advisors who are interested in finding out more about our Trustee and Investment Advisor Relationship Arrangements should contact a First Midwest Wealth Management Officer for more detailed information about this service. 

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