U.S. Trust Company Of Florida Savings Bank (Palm Beach)


U.S. Trust Company Of Florida Savings Bank is a large advisory firm based in Palm Beach. It manages $3.21 billion of regulatory assets for 1,620 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.

U.S. Trust Company Of Florida Savings Bank provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for pooled investment vehicles. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

U.S. Trust Company Of Florida Savings Bank: assets under management

The assets under management (AUM) of U.S. Trust Company Of Florida Savings Bank is $3.21 billion. The firm's AUM has gone down by -44% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.67 billion in discretionary accounts and $1.54 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.6 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.65 million.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay U.S. Trust Company Of Florida Savings Bank for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

Careers at U.S. Trust Company Of Florida Savings Bank

Richard Gerard Mcdermott has been acting as President since 1 Apr 1998. Craig Lee Walling joined the executive team most recently as the Chairman, President, Ceo & Director U.S. Trust Company.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Garrison Du Pont Lickle Regional president 1 Jun 1991 Other 4150539
Carl August Harnish Regional president/director 1 Jun 1991 Other 4152099
Iii Trowbridge Callaway Chairman, ceo 1 Jun 1991 Other 4388509
Geraldine M Mcnamara Director 1 Jun 1991 Other 2520264
Howard Emerson Nestor Wilson Director 1 Jun 1991 Other 817332
U.S. Trust Corporation 100% owner 1 Jun 1991 75% - 100% 13-3818952
Geraldine Mcquade Mcnamara Director 1 Jun 1991 Other 2520264
Maribeth S Rahe Director 1 Aug 1997 Other 4357217
Richard Gerard Mcdermott Regional president/director 1 Apr 1998 Other 326641
Garrison Du Pont Lickle Regional president 1 May 1999 Other 4150539
Charles James Frankel Managing director/director 1 Feb 2000 Other 2567309
Eileen Joann Daly Compliance officer 1 Jan 2001 Other 4388690
Sharon Maurine Davison Director of securities compliance for u.s. trust corporation subsidiaries 1 Sep 2001 Other 1367871
Stephen Craig Hassenfelt Chief operating officer for investments for u.s. trust corporation subsidiaries 1 Dec 2001 Other 4372267
Garrison Du Pont Lickle Chief operating officer 1 Apr 2002 Other 4150539
Stephen Craig Hassenfelt Executive vice president & chief operating officer for u.s. trust corporation investments 1 May 2002 Other 4372267
James Price Johannsen Regional president 1 Nov 2002 Other 3012590
James Price Johannsen Director 1 Dec 2002 Other 3012590
Garrison Du Pont Lickle Chief executive officer 1 Jan 2003 Other 4150539
Garrison Du Pont Lickle Chairman 1 Feb 2003 Other 4150539
Craig Lee Walling Chairman, president, ceo & director - u.s. trust company 1 Feb 2003 Other 4613175

Indirect Owners

The SEC currently registers 1 indirect owner.

Name Entity Date acquired Ownership Employer ID
The Charles Schwab Corporation Parent company of u.s. trust corporation 1 May 2000 75% - 100% 94-3025021

Based in Palm Beach

The principal office where U.S. Trust Company Of Florida Savings Bank performs its advisory services is located at 132 Royal Palm Way, Palm Beach, FL 33480 4285, which is also the mailing address of the firm. An additional office of the firm is in Naples, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 561-659-1550 or by fax 561-655-2053. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at www.ustrust.com.

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