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Safety and Soundness

Last Updated: November 21, 2016


  • Advocacy Trust LLC is a Tennessee state chartered trust company formed through the migration of the trust business from a national trust company and representing over a quarter of a billion dollars in assets under administration.
  • Unlike traditional banks, non-FDIC-insured or state chartered trust companies do not typically have significant liabilities on their balance sheets or exposure to losses that such liabilities create.  As a result, they rarely go through a receivership process.
  • The Tennessee Department of Financial Institutions granted Advocacy Trust a state Trust charter after an extensive review of the company.  Other safeguards include:
    • The Tennessee state banking regulators impose minimum capital requirements and can require the company to raise additional capital, if warranted.
    • The Tennessee state banking regulators periodically examine the company and require us to file certain quarterly reports in order to monitor risks to their safety and soundness standards.
    • Advocacy Trust is required to file an annual report detailing the company’s financial condition with the Tennessee Secretary of State with whom the company maintains a “Good Standing” ranking.
    • As required, Advocacy Trust’s financial results and internal controls are audited on an annual basis by the accounting firm Mauldin & Jenkins, who also monitor the company’s interim results. In addition, a 3rd party trust expert with 30+ years of experience provides internal audit support to the company.
    • All trust assets under administration at Advocacy Trust are held in custody at the Reliance Financial Corporation, an FIS Company. Trust assets are protected by law and are owned by the trust beneficiaries, not Advocacy Trust.  If a Tennessee chartered trust company using Reliance to custody assets should ever fail, all trust assets will remain untouched and unaffected and a new corporate trustee will be immediately appointed by the Tennessee Department of Financial Institutions to succeed the company and manage the assets.
    • Advocacy Trust maintains significant errors and omissions insurance coverage to provide our trust clients with an additional layer of protection from any possible loss to their account.  In addition, Reliance Financial Corporation maintains extensive insurance coverage, as well.
  • Some additional information about the company includes:
    • Advocacy Trust maintains custody and processes all of its business through Reliance Financial Corporation, a $100 billion trust operating platform (Reliance Financial Corporation - SSAE 16 Report is available upon request);
    • Reliance Financial Corporation maintains insurance coverage up to $15 million per incident (Reliance Financial Corporation - Insurance Summary is available upon request);
    • Advocacy Trust maintains various insurance policies (including Errors and Omissions) providing extensive coverage through Advocacy Inc. (Insurance Binder is available upon request);
    • The State of Tennessee requires that Advocacy Trust maintain adequate net capital levels which the company significantly exceeds.

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Forge Consulting is a national insurance agency. We analyze but do not provide investment, legal or tax advice. Advocacy Wealth, a Registered Investment Adviser, offers financial planning. Advocacy Trust offers fiduciary services. Forge is the parent company of both Advocacy subsidiaries.

Securities and Insurance Products are NOT insured by the FDIC, nor by any other Federal or State Government Agency, are NOT a Deposit of and are NOT Guaranteed by a Bank or any Bank Affiliate, and MAY lose value.

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