Preferred Legacy Trust

What Preferred Legacy Trust does

The Preferred Legacy National Trust Bank (operating as Preferred Legacy Trust) is a privately held, OCC-regulated national trust bank founded in 2020 and headquartered in Canton, Ohio. The firm delivers private trust services, estate planning, retirement plan trustee services, self-directed IRAs, family stewardship and philanthropy advisory, comprehensive family planning, and household financial management to high-net-worth individuals and families. Its product portfolio spans revocable, irrevocable, charitable, special needs, and domestic asset protection trusts, plus alternative-asset custody through self-directed IRAs covering real estate, private equity, and LLC interests.

The institution transitioned from an Ohio Bank Charter to a National Bank Charter in October 2023, broadening its jurisdictional scope under OCC oversight. It operates six offices across five states — Ohio (Canton and St. Clairsville), Georgia (Atlanta), Florida (Sarasota), South Carolina (Charleston), and Texas (Nacogdoches) — and is staffed by 11–50 employees led by Co-Founder/CEO/Vice-Chairman Denise M. Penz (a U.S. Navy veteran and former private-equity bank owner) and President Tiffany Rockstroh. The firm is a subsidiary of Preferred National, Inc., itself a subsidiary of CRI Advisors, LLC, and operates as part of the CRI Family of Companies.

Revenue is generated through professional-services fees — fiduciary fees, trustee fees, advisory retainers, and related servicing charges — delivered via a sales-led, relationship-driven go-to-market targeting HNW families through a structured advisory process. Pricing is not publicly disclosed and is quoted on a contact basis; no funding rounds, institutional investors, or valuation disclosures are present in the available data.

Name

Preferred Legacy Trust

Legal name

The Preferred Legacy National Trust Bank

Website

https://preferredlegacy.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Preferred Legacy Trust is an OCC-regulated national trust bank providing fiduciary, estate, retirement, philanthropy, and household financial management services to high-net-worth individuals and families across five U.S. states.

Ownership category

akta.pro rank

Product category

Trust & Wealth Management

NAICS

Trust, Fiduciary, and Custody Activities (523991), Trusts, Estates, and Agency Accounts (52592), Trusts, Estates, and Agency Accounts (525920), Insurance and Employee Benefit Funds (5251)

SIC

Savings Institution, Federally Chartered (6035), Investment Advice (6282)

akta.pro primary industry

Trust & Fiduciary Advisory for HNW/UHNW (Trust Structuring & Trustee Oversight) (FSAAABAF)

akta.pro secondary industries

Trust Administration & Fiduciary Accounting Services (FSAAANAF), Family Office Trust & Fiduciary Services (FSAEAKAF), Philanthropic & Charitable Trust Services (FSAAANAI), Estate & Legacy Planning Advisory (FSAEAAAG), Estate Planning, Trust Structuring & Governance (FSAAADAF)

Keywords

• Trust administration
• Estate planning
• Wealth management
• Fiduciary services
• Private banking

Headquarters

HQ city

Canton

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Fiduciary and Trust Administration Services: Professional trustee and fiduciary services including trust administration, estate settlement, and executor services for revocable and irrevocable trusts, charitable trusts, special needs trusts, and domestic asset protection trusts.
2. Retirement Plan Trustee Services: Professional trustee services for employer-sponsored ERISA plans and individual retirement plans including self-directed IRAs.
3. Family Stewardship and Philanthropy Services: Family foundation advisory, charitable giving strategies, family gifting programs, and donor foundation trustee services.
4. Comprehensive Family Planning and Advisory: Bank advisory, family business advisory, private investment advisory, and trust and estate planning services.
5. Household Financial Management: Bill payment, household payroll, insurance coordination, real estate advisory, and concierge services for high-net-worth families.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

The Preferred Legacy National Trust Bank provides professional trust administration, estate planning, and fiduciary services for high-net-worth individuals and families. Core offerings include revocable, irrevocable, charitable, special needs, and domestic asset protection trust administration; retirement plan trustee services for ERISA and self-directed IRAs; family stewardship and philanthropy advisory; comprehensive family planning including bank, family business, and private investment advisory; and household financial management such as bill payment and concierge services.

Product overview

The Preferred Legacy National Trust Bank operates as a multi-service wealth management institution providing private trust services, estate planning, and personalized legacy strategies for high-net-worth families. The product portfolio centers on fiduciary services (trust and estate administration across revocable, irrevocable, charitable, special needs, and domestic asset protection trusts), retirement solutions (professional trustee services for ERISA plans and self-directed IRAs with alternative investment capabilities), family advisory services (bank advisory, family business advisory, and private investment advisory), family stewardship and philanthropy coordination, and household financial management. The institution transitioned from an Ohio Bank Charter to a National Bank Charter in October 2023, now operating under OCC regulatory oversight across six office locations.

Differentiator

Problem solved

Functional benefit

Products and services

• Trust & Estate Administration Comprehensive fiduciary services administering revocable, irrevocable, charitable, special needs, and domestic asset protection trusts for high-net-worth individuals and families, delivered with neutral, third-party trustee oversight.
• Retirement Plan Trustee Services Professional trustee services for employer-sponsored and ERISA-governed retirement plans, providing compliance oversight, investment alignment, and fiduciary governance for plan sponsors.
• Self-Directed IRA Custodial services for self-directed IRAs enabling investment beyond traditional assets—including real estate, private equity, LLCs, and alternative investments—under full IRS compliance.
• Bank Advisory Services Independent advisory guidance to optimize cash flow, manage banking relationships, evaluate financial products, and support long-term business growth for families and family-owned enterprises.
• Family Business Advisory Services Personalized advisory for family-owned enterprises covering succession planning, financial consulting, leadership transitions, and transaction assistance.
• Private Investment Advisory Advisory services for private investment strategy aligned with broader estate and financial planning objectives for high-net-worth families.
• Family Stewardship & Philanthropy Services Coordination of wealth strategies across generations including tax-efficient gifting, family asset allocation, and philanthropic planning for high-net-worth families.
• Family & Donor Foundation Advisory Trustee and board services for family and donor foundations, including IRS compliance, tax-efficient gifting strategies, and investment policy management.
• Household Financial Management Services Full-service household financial management covering bill payment, household payroll, insurance coordination, and real estate advisory for high-net-worth families.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• CRI Family of CompaniescoreStrategic or Co-development PartnerPart of CRI Family of Companies network which includes CRI's Capital Markets and Transaction Advisory teams, CRI M&A Advisors, CRI Simple Numbers, Level Four Group. The companies collaborate on business exit planning, succession planning, and comprehensive family advisory services.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Cresset Capital: Multi-family office serving HNW/UHNW families with integrated wealth, trust, and family office services — comparable scope but more founder-led / emerging scale.

Direct peers

• Northern Trust: Publicly-traded national trust bank offering fiduciary, estate, and wealth services to HNW/UHNW families globally; directly comparable business model under OCC oversight.
• BNY Mellon Wealth Management: Large wealth management franchise offering comprehensive trust, estate, and fiduciary services to HNW/UHNW clients; directly comparable in product and target market.
• Bessemer Trust: Independent, family-owned firm exclusively serving HNW/UHNW families with trust & estate administration, investment management, and family office services — the closest analog to Preferred Legacy's positioning and service mix.
• Ascent Private Capital Management (U.S. Bank): U.S. Bank's HNW wealth management unit offering trust, estate, and investment services to ultra-affluent families — broad incumbent competing in the same target segment.
• Wilmington Trust (M&T Bank): Established national trust bank providing personal trust, estate, and wealth advisory services to HNW families; competes head-to-head with Preferred Legacy for trustee mandates.
• Glenmede: Independent investment and wealth advisory firm with deep trust and estate administration capabilities serving HNW families — closely aligned with Preferred Legacy's independent trustee model.

Broad incumbents

• Bank of America Private Bank: Large national private bank serving HNW/UHNW clients with trust, estate, and investment services; broader portfolio player with overlapping fiduciary capabilities.
• PNC Wealth Management (Hawthorn): PNC's HNW wealth and trust group offering fiduciary, estate, and banking services to affluent families; broader incumbent with overlapping service lines.
• KeyBank Private Client Group: KeyBank's wealth management and trust services arm serving HNW individuals across the Midwest and beyond; broader incumbent with comparable Ohio regional presence.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/PreferredLegacy
• Facebookfacebook.com/PreferredLegacy
• LinkedInlinkedin.com/company/preferredlegacy

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 Preferred Legacy Trust