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Thu Sep 10, 2009 10:20am EDT
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Joint Venture - Reliance Asset Advisors, LLC Formed at Request of Local Business
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
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
* 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.
Tony Greene, 678-274-1693
Copyright Business Wire 2009