Hemenway Trust Company

What Hemenway Trust Company does

Hemenway Trust Company LLC is a privately held, New Hampshire-domiciled private trust company and wealth advisory firm that provides integrated fiduciary services to high net worth individuals, families, private foundations, endowments, and family-owned businesses. The firm was established by Hemenway & Barnes LLP, a Boston-based law firm founded in 1863, to serve clients seeking a corporate trustee operating under New Hampshire's favorable trust laws. Operating from its headquarters in Salem, New Hampshire, the firm offers eight core service modules: Investment Management, ESG & Impact Investing, Trust Management, Estate & Tax Planning, Retirement Planning, Charitable Planning, Family Office Services, and Foundations & Endowments. As of April 30, 2019, the firm held management and advisory responsibility for over $5 billion of assets.

The company does not build proprietary technology and operates as a traditional, human-advisor-driven fiduciary practice. Its underlying capability rests on senior practitioner expertise (Managing Directors average more than 25 years of experience), legal-trust knowledge drawn from the affiliated Hemenway & Barnes LLP, and the regulatory advantages of the New Hampshire trust jurisdiction. Client-facing technology relies on third-party infrastructure: the client portal is delivered via InvestCloud. Investment management employs a long-term, diversified, multi-asset-class approach integrating estate and tax considerations, with an added ESG/impact overlay for values-aligned mandates.

Hemenway Trust Company generates revenue through fee-based fiduciary and advisory engagements, including corporate trustee fees, investment management fees, and customized family office and foundation advisory engagements. Pricing is not publicly disclosed but is structured around assets under management or complexity-based advisory fees tailored to each client. Distribution is entirely relationship-based: the firm does not run volume sales or product distribution channels, instead relying on direct advisor relationships, internal referrals, and cross-referrals from Hemenway & Barnes LLP. Marketing is light-touch and centered on professional networking, educational content, and community involvement in the New England region.

Name

Hemenway Trust Company

Legal name

Hemenway Trust Company LLC

Website

https://hemtrust.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Hemenway Trust Company LLC is a New Hampshire-based private trust company and wealth advisor serving high net worth individuals, families, private foundations, and family businesses with integrated investment, trust, estate, charitable, and family office services, operating as a subsidiary of Boston law firm Hemenway & Barnes LLP.

Ownership category

akta.pro rank

Product category

Private Wealth Management and Trust Services

NAICS

Trust, Fiduciary, and Custody Activities (523991), Trusts, Estates, and Agency Accounts (52592), Trusts, Estates, and Agency Accounts (525920), Funds, Trusts, and Other Financial Vehicles (525)

akta.pro primary industry

Personal Trust & Fiduciary Administration (FSAEAKAA)

akta.pro secondary industries

Trust & Fiduciary Advisory for HNW/UHNW (Trust Structuring & Trustee Oversight) (FSAAABAF), Corporate Trust Services (Trustee, Agent & Escrow Roles) (FSAEAKAB), Estate Planning, Trust Structuring & Governance (FSAAADAF), Trust & Estate Tax Planning & Compliance (FSAEAKAE), Philanthropic & Charitable Trust Services (FSAAANAI)

Keywords

• Private trust services
• Wealth management advisory
• Estate planning services
• Fiduciary investment management
• Family office services

Headquarters

HQ city

Salem

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Fiduciary Services and Wealth Management: Hemenway Trust Company generates revenue through fiduciary services including trust management, investment management, estate planning, retirement planning, charitable planning, and family office services. The firm manages assets under administration and provides advisory services on a fee basis. As a corporate trustee, they earn fees for serving as trustee for trusts.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Hemenway Trust Company is a full-service private trust company that acts as a corporate trustee and wealth advisor. It delivers an integrated wealth management platform spanning investment management, trust management, estate and tax planning, retirement planning, charitable planning, family office services, and foundations and endowments advisory. The firm manages and has advisory responsibility for over $5 billion in client assets, serving high net worth individuals, families, and private foundations primarily in New England.

Product overview

Hemenway Trust Company operates as a full-service private trust company offering an integrated wealth management platform. The company provides eight core service modules: Investment Management, ESG & Impact Investing, Trust Management, Estate & Tax Planning, Retirement Planning, Charitable Planning, Family Office Services, and Foundations & Endowments. These services are designed to work together as a unified solution, with the firm acting as corporate trustee and advisor to deliver comprehensive wealth management guidance.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Management Long-term investment approach using a diversified portfolio of holdings spanning asset classes and industry sectors, integrating sophisticated estate and tax planning strategies; for high net worth individuals, families, foundations, and endowments.
• ESG & Impact Investing Structuring of client portfolios according to each client's values and priorities for environmental, social, and governance concerns; for clients seeking values-aligned investing.
• Trust Management Comprehensive corporate trustee services providing flexibility, privacy, asset protection, and wealth preservation and transfer, leveraging New Hampshire trust law advantages; for individuals, families, and charitable trusts.
• Estate & Tax Planning Lifetime asset management and preservation plus post-death stewardship of assets in a tax-efficient manner and in accordance with client wishes; for individuals and families with complex estates.
• Retirement Planning Professional retirement planning including investment advice and management for Individual Retirement Accounts (IRAs), Roth IRAs, SEP, and 401k rollovers; for individuals planning retirement.
• Charitable Planning Philanthropic advisory helping clients identify goals, create a giving strategy, and implement their plan in accordance with established guidelines and regulations; for individuals, families, and foundations engaged in philanthropy.
• Family Office Services Customized coordination of asset stewardship and pursuit of philanthropic and personal interests, tailored to each family's goals; for families of substantial means.
• Foundations & Endowments

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered minor and core.

• Colby College Museum of ArtminorGTM or Marketing Partner · 13 July 2024Hemenway Trust Company sponsors the Colby Museum of Art Summer Luncheon annually, including 2024 and 2025 events. Nancy B. Gardiner serves as Event Co-Chair and has served on the Museum's Board of Governors.
• Hemenway & Barnes LLPcoreStrategic or Co-development PartnerHemenway & Barnes LLP, a highly regarded Boston-based law firm established in 1863, founded Hemenway Trust Company. The firms work together to provide integrated legal and wealth management services to clients. Hemenway & Barnes provides legal services including tax planning, sophisticated estate planning, family office services, and charitable planning, while HTC provides corporate trustee services. Both firms share professionals and coordinate client service.
• Family Promise of Southern New HampshireminorGTM or Marketing PartnerHemenway Trust Company hosts donation drives for Family Promise of Southern New Hampshire, supporting homeless families with cleaning supplies, household items, and basic necessities.
• Nashua Soup KitchenminorGTM or Marketing PartnerHemenway Trust Company holds Thanksgiving Food Drives benefiting the Nashua Soup Kitchen, which provides food, emergency shelter, and supportive services to individuals and families in Greater Nashua.
• Greater Boston Food BankminorGTM or Marketing PartnerHemenway Trust Company and Hemenway & Barnes employees support the Greater Boston Food Bank through denim days and fundraising. The Greater Boston Food Bank is the largest hunger-relief organization in New England.
• Toys for TotsminorGTM or Marketing PartnerHemenway Trust Company participates in annual Toys for Tots toy drives to help local families in need during the holiday season.
• ManometminorGTM or Marketing PartnerManaging Director Nancy Dempze serves as Chair of the Board of Trustees for Manomet, a nonprofit committed to applying science and engaging people and businesses to sustain the planet.
• Haley HouseminorGTM or Marketing PartnerHemenway & Barnes and Hemenway Trust Company participate in annual volunteer days helping prepare gardens at Haley House, a nonprofit using food with purpose and community power to break down barriers in Boston neighborhoods.

Scale indicators1 record

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Rockefeller Capital Management: Rockefeller Capital Management is a large wealth manager offering private wealth management, investment advisory, and family office services to HNW and UHNW clients. It is a broader incumbent competing for the same HNW trust and family-office mandates as HTC, with deeper national reach.
• Brown Brothers Harriman: Brown Brothers Harriman is a long-standing private partnership providing private banking, investment management, and trust services to HNW families and institutions. Its partnership structure, multigenerational client focus, and trust capabilities align it with HTC's model, though at significantly greater scale and geographic reach.
• Northern Trust: Northern Trust is a large, publicly traded wealth and asset management firm with a major Private Wealth business serving HNW and UHNW families, foundations, and endowments. It is the dominant scale incumbent in the U.S. private trust market against which smaller private trust companies like HTC compete.
• BNY Mellon Wealth Management: BNY Mellon Wealth Management is a large-scale wealth manager offering investment management, trust and estate services, and private banking to HNW families, foundations, and endowments. It represents the broad-incumbent competitive benchmark for boutique trust companies like Hemenway.

Direct peers

• Fiduciary Trust Company: Fiduciary Trust Company is a privately held wealth manager and corporate trustee focused on HNW individuals, families, and foundations. Its service mix (investment management, trust, estate planning, family office) and target client profile closely mirror Hemenway Trust Company's positioning.
• Glenmede: Glenmede is an independent, privately held investment and wealth management firm with deep trust-company roots (founded by the Pew family). Like HTC, it emphasizes independent fiduciary advice, multi-generational family services, and integrated estate and investment management for HNW clients.
• Bessemer Trust: Bessemer Trust is a privately held, family-owned trust and wealth advisory firm serving ultra-high-net-worth families. It is the closest analogue to Hemenway Trust Company, with a comparable focus on corporate trusteeship, estate planning, and multi-generational wealth management.
• Laird Norton: Laird Norton is a privately held, family-owned wealth management and trust company serving HNW families and institutions. Its integrated wealth, trust, and family-office offering is closely comparable to Hemenway Trust Company's positioning in the boutique fiduciary segment.
• Pathstone: Pathstone is an independent, employee-owned wealth management and family office firm serving HNW families, foundations, and endowments. Like HTC, it emphasizes independent fiduciary advice and integrated investment, trust, and family-office services without proprietary product conflicts.

Others

• Cambridge Associates: Cambridge Associates is a global investment consulting and advisory firm focused on foundations, endowments, and private wealth. While not a trustee, it competes for the same foundation, endowment, and ultra-wealthy family mandates and is frequently considered alongside private trust companies in client evaluations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hemenway-trust-company-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 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 Hemenway Trust Company