What Trust Management Network does

Trust Management Network (TMN), founded in 1996 and headquartered at 8080 North Central Expressway in Dallas, Texas, is a privately held LLC that provides outsourced trust operations services to U.S. financial institutions. The company acts as a back-office extension for trust organizations, delivering daily reconciliations, securities processing, cash processing, shadow processing, and client services administration across multiple trust accounting platforms — specifically Charlotte, HWA International, and Innovest/WealthHub Solutions — supported by partnerships with major custody providers including Fidelity, BNY Mellon, AIM/Invesco, Federated Hermes, and Frost Bank. TMN serves 40+ active clients representing $40B+ in assets and 20,000 accounts across 21 states, segmented across independent trust companies, bank trust departments, directed/delegated trust companies, family offices, and de novo (start-up) trust companies, with SSAE 18 compliance and dedicated client services administrators supporting each engagement.

TMN monetizes through three productized service delivery models — Bundled Service (full turnkey outsourcing with technology support), Managed Service (select operations on a month-to-month basis), and Demand Service (standby business continuity activation) — all delivered under customized contract pricing that is not publicly disclosed. The company employs 11–50 people and is led by Chairman and co-founder Eddie Phillips (40+ years in financial services) alongside CEO Ryan Phillips, who succeeded from the Managing Director role in 2023, supported by President & COO Yavonda Schaefer and senior leaders in trust operations, IT, client development, securities processing, and platform-specific production management. The firm emphasizes its independence from trust companies, banks, and trust technology vendors as a core differentiator, and reports 100% client retention and 100% satisfaction across its 2019–2022 feedback surveys.

Go-to-market is consultative and relationship-driven, executed through direct enterprise sales targeting trust organizations nationwide, supported by content marketing (whitepapers on directed/delegated trust risks and T+1 settlement), thought leadership, and the company's ecosystem of technology and custody partnerships. There are no disclosed funding rounds, acquisitions, or subsidiaries; ownership remains with the founding Phillips family and affiliated entities, with no institutional investor participation evidenced in the source material.

Name

Trust Management Network

Legal name

Trust Management Network, LLC

Website

https://trust-mgmt.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

Trust Management Network is a Dallas-based, privately held LLC founded in 1996 that provides outsourced back-office trust operations — including reconciliations, securities processing, cash processing, and shadow processing — to 40+ U.S. independent trust companies, bank trust departments, family offices, and de novo trust companies representing $40B+ in assets.

Ownership category

akta.pro rank

Product category

Trust Operations Outsourcing

NAICS

Trust, Fiduciary, and Custody Activities (523991), Trusts, Estates, and Agency Accounts (52592), Business Support Services (5614)

SIC

Finance Services (6199), Services-Help Supply Services (7363)

akta.pro primary industry

Trust Administration & Fiduciary Accounting Services (FSAAANAF)

akta.pro secondary industries

Directed Trust & Trust Advisory Services (FSAAANAK), Trust & Fiduciary Advisory for HNW/UHNW (Trust Structuring & Trustee Oversight) (FSAAABAF), Family Office Trust & Fiduciary Services (FSAEAKAF), Corporate & Institutional Trust Services (FSAAANAB)

Keywords

• Trust operations outsourcing
• Back-office trust services
• Trust accounting support
• Securities processing services
• Trust department outsourcing

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Trust Operations Outsourcing Services: TMN provides comprehensive trust operations outsourcing through multiple service models: Bundled Service (operations plus technology support), Managed Service (select operations functions), and Demand Service (emergency/business continuity). Revenue is generated through contracted service fees, likely structured as recurring monthly or annual fees based on assets serviced or account volume.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Trust Management Network provides comprehensive trust operations outsourcing services for financial institutions, acting as a back-office extension of client trust organizations. Services include Client Services Administration, Securities Processing, Cash Processing, Shadow Processing, and Daily Reconciliation delivered across multiple trust accounting platforms (Charlotte, HWA International, Innovest/WealthHub Solutions). TMN offers three engagement models—Bundled Service, Managed Service, and Demand Service—to accommodate different client readiness levels.

Product overview

Trust Management Network (TMN) provides trust operations outsourcing services as a single unified offering built around multiple trust technology platforms (Charlotte, HWA International, Innovest). The company delivers comprehensive back-office operations including Client Services Administration, Securities Processing, Cash Processing, Shadow Processing, and Daily Reconciliation, supplemented by Training & Development Programs and Digital Account Onboarding. TMN offers three distinct service delivery models: the Bundled Service Model (full turn-key solution with integrated technology support), the Managed Service Model (flexible month-to-month operations management), and the Demand Service Model (business continuity/emergency activation). These services are delivered through partnerships with multiple trust technology platforms and custody providers to serve independent trust companies, trust departments, family offices, and startup trust companies.

Differentiator

Problem solved

Functional benefit

Products and services

• Client Services Administration Back-office trust operations support including daily report review, daily settlement, system/account maintenance, account opening, quality control and issue resolution, fee schedule maintenance and processing, and workflow/process management for trust organizations.
• Securities Processing Comprehensive securities operations including safekeeping and custody, asset setup and maintenance, trade execution, settlement, and transfers, corporate actions, and income processing/collection.
• Cash Processing Cash management operations including ACH/wire execution, check printing and mailing, and ACMS/intraday sweep services for trust accounts.
• Shadow Processing Custodial aggregation services including broker interface setup and maintenance, asset and transaction code mapping, and manual shadow posting capabilities for trust accounts.
• Daily Reconciliation Daily reconciliation services covering cash, outstanding checks, and custodian positions to ensure accuracy of trust account records.
• Bundled Service Model Fully integrated turn-key engagement model where TMN manages both operations outsourcing and technology support with the platform vendor, including negotiated pricing and complete system support.
• Managed Service Model Flexible engagement model where clients contract directly with the trust accounting platform vendor while engaging TMN to manage one or more trust operations functions on a month-to-month basis.
• Demand Service Model Business continuity protection engagement model allowing clients to activate outsourcing services in emergencies with standby activation within days, functioning as an insurance policy for trust operations.
• Training & Development Programs Comprehensive training programs for trust operations staff on systems, processes, and industry best practices.
• Digital Account Onboarding Digital capabilities for new account opening and onboarding processes for trust clients, modernizing client acquisition.

Quantifiable outcome

• 100% client satisfaction - 100% of respondents reported being either 'satisfied' or 'very satisfied' with TMN as their trust outsourcing partner (TMN Client Feedback Surveys 2019-22)
• +4 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core, key and supporting.

• FIS (Fidelity Information Services)coreTechnology or IntegrationTechnology partner providing trust accounting platform support. FIS is a leading provider of financial technology solutions, and TMN has partnered with them to offer integrated trust operations services to clients using FIS platforms.
• SS&C BlackDiamondcoreTechnology or IntegrationTechnology partner offering trust accounting platform integration. SS&C BlackDiamond provides wealth management and trust accounting technology that TMN supports as part of its multi-platform service offering.
• WealthHub SolutionscoreTechnology or IntegrationTechnology partner providing trust technology platform support. WealthHub Solutions offers trust and wealth management solutions that TMN integrates with to provide comprehensive operations outsourcing.
• FidelitykeyTechnology or IntegrationCustody provider partner. Fidelity provides custody services for trust assets, and TMN's operations teams are experienced in processing and reconciling assets held at Fidelity.
• BNY MellonkeyTechnology or IntegrationCustody provider partner. BNY Mellon is a major custodian serving the trust industry, and TMN provides securities processing and operations support for assets custodied there.
• AIM InvescosupportingTechnology or IntegrationCustody provider and investment management partner. AIM/Invesco provides investment products and custody services that TMN supports through its operations platform.
• Federated HermessupportingTechnology or IntegrationCustody and investment management partner. Federated Hermes offers money market and investment services, with TMN providing operational support for relevant trust accounts.
• Frost BanksupportingTechnology or IntegrationCustody provider partner and advisory relationship. Frost Bank provides banking and custody services, and TMN's co-founder Eddie Phillips serves as an advisory director of Frost Bank.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• SEI Investments: SEI's Wealth Platform and SEI Private Trust provide outsourced trust and wealth operations to banks and trust companies. It is the most direct comparison to TMN's multi-platform, multi-segment outsourcing model.
• Ascensus: Ascensus specializes in outsourced administration for retirement, education, and trust accounts, serving financial institutions with back-office services closely analogous to TMN's trust operations outsourcing.

Broad incumbents

• Northern Trust: Northern Trust provides trust, custody, and asset servicing to HNW/UHNW families and institutions. Operates as a much larger incumbent in the same trust services space as TMN.
• State Street Global Services: State Street provides custody, fund administration, and operations outsourcing to institutional and wealth management clients, including trust organizations. Comparable as a broad BPO/operations incumbent.
• FIS Wealth & Retirement Solutions: FIS provides trust accounting platforms (Charlotte) that TMN supports, and also offers outsourced operations and wealth management services to banks - making it both a technology partner and a broad incumbent competitor.
• BNY Mellon Corporate Trust: BNY Mellon operates one of the largest corporate trust services franchises globally, providing trust operations, agency, and custody services to financial institutions - a broad incumbent serving similar institutional clients.
• SS&C Technologies: SS&C owns BlackDiamond (a TMN-supported trust accounting platform) and provides large-scale financial services BPO and fund administration. Comparable in servicing model but operates at much larger scale across multiple financial services verticals.

Emerging players

• Chatham Financial: Chatham provides debt and investment advisory and operational services to financial institutions, including back-office support for trusts and specialty finance functions - emerging player with overlapping BPO-style trust services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Trust Management Network