What Cleveland Private Trust Company does

Cleveland Private Trust Company (CPTCO) is a private, family-owned wealth management and trust services firm headquartered in Cleveland, Ohio, founded in 2020 and majority owned through Ohio Wealth Partners, a holding company controlled by Howard Milstein and the Milstein family via Emigrant Bank (founded 1850). The firm serves high-net-worth and ultra-high-net-worth individuals and families, as well as foundations, endowments, non-profits, and trust beneficiaries, providing integrated investment advisory, trust and estate administration, banking, and precious metals services. Its core wealth management offering is built around Separately Managed Accounts with a $5 million minimum and a flat fee that declines above $20 million, governed by client-specific Investment Policy Statements, alongside a proprietary Managed ETF Platform whose strategic allocations are selected and tactically shifted by the New York Private Bank & Trust Investment Committee. Portfolio managers oversee over $2 billion in SMA assets, primarily individual municipal, corporate, mortgage-backed, and U.S. Treasury bonds plus proprietary equity ETF models.

The firm operates within the broader Milstein/Emigrant ecosystem, which includes Emigrant Bank, New York Private Bank & Trust, Sarasota Private Trust Company, Emigrant Partners (~$65 billion combined AUA), Summitas (virtual family office portal), and specialty lending affiliates in fine art, sports, entertainment, and equipment finance. CPTCO also runs a Co-Investment Program sourcing opportunities through Milstein Family Office affiliates such as U.S. Realty Advisors (triple-net real estate), Company Ventures (early-stage tech), and Abacus Finance (lower middle market direct lending). The firm leverages Ohio's favorable trust law framework, including Domestic Asset Protection Trusts, dynasty trusts, and perpetual trusts, as a structural differentiator. A March 2026 announcement that Emigrant Bancorp will acquire a majority interest in Fortis Management Group — bringing a 14-person family office team and establishing a new Emigrant Family Office division — signals an explicit expansion into UHNW family office services and RIA partnership channels.

Revenue is generated primarily through recurring advisory and fiduciary fees on SMA assets, with supplementary fee streams from trust administration, banking and credit services, precious metals transactions, and co-investment placements. New clients are acquired through referrals via the Emigrant Partners RIA network, Milstein family relationships, and direct relationship management. Leadership includes CEO Linda Olejko (appointed June 2025; previously grew Glenmede's Northeast Ohio AUM from $700M to $3.6B), Managing Director/Senior Trust Officer Christopher Jakyma (30+ years of trust experience), and Acting Chief Fiduciary Officer Brian Carlson. The firm maintains 11-50 employees and reports over $100 billion in assets under administration across its affiliate network.

Name

Cleveland Private Trust Company

Legal name

Cleveland Private Trust Company

Website

https://cptoh.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Cleveland Private Trust Company is a Cleveland-based, family-owned private trust firm serving high-net-worth and ultra-high-net-worth individuals, families, foundations, and endowments with integrated investment advisory, trust and estate administration, banking, precious metals, and co-investment services under the Milstein/Emigrant Bank ecosystem.

Ownership category

akta.pro rank

Product category

Private Wealth Management

NAICS

Trust, Fiduciary, and Custody Activities (523991), Trusts, Estates, and Agency Accounts (52592)

SIC

Investment Advice (6282)

akta.pro primary industry

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

akta.pro secondary industries

Estate Planning, Trust Structuring & Governance (FSAAADAF), Trust Administration & Fiduciary Accounting Services (FSAAANAF)

Keywords

• Private wealth management
• Trust administration services
• Fiduciary investment advisory
• Family office services
• Estate planning services

Headquarters

HQ city

Cleveland

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, Marketing or Sales, Others

Revenue model

1. Advisory and Fiduciary Services Fees: Cleveland Private Trust Company provides fiduciary services, customized investment management solutions, and bespoke wealth advisory services for high-net-worth families and institutions. Revenue is generated through advisory fees associated with separately managed accounts and fiduciary services.
2. SMA Management Fees: Separately Managed Accounts (SMAs) require $5 million minimum investable assets with a flat fee which declines for accounts over $20 million. Fees are based on assets under management.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Cleveland Private Trust Company is a boutique private wealth management and trust services firm offering fiduciary investment advisory, Separately Managed Accounts (SMAs) with a $5 million minimum, trust and estate administration, banking and credit solutions, a precious metals platform, and a co-investing program that provides clients access to deal flow sourced through the Milstein Family Office in real estate, private equity, and venture capital. Services are delivered under a fiduciary standard with customizable tax-managed investment advice and Ohio-based trust jurisdiction advantages.

Product overview

Cleveland Private Trust Company operates as a multi-service wealth management and private trust firm, offering a unified but modular portfolio of services anchored by fiduciary wealth management, co-investing, and trust administration. Its core Wealth Management service is built on Separately Managed Accounts (SMAs) with a $5 million minimum and incorporates a proprietary Managed ETF Platform for strategic asset allocation. The Co-Investing Program provides exclusive access to opportunities sourced through the Milstein Family Office in real estate, private equity, and venture capital. Trust & Estate Administration leverages Ohio's favorable legal framework to offer DAPT structures, dynasty trusts, and full fiduciary services. Complementary services include Precious Metals (via NYPB&T Precious Metals, LLC), Banking (credit and deposit solutions), and the affiliated Summitas digital wealth portal. The firm administers over $100 billion in assets under administration across its affiliate network.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Over $100 billion in assets under administration across affiliates
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

13 partnerships are on record, tiered core and supporting.

• Fortis Management GroupcoreStrategic or Co-development Partner · 4 March 2026Fortis Management Group is a leading provider of comprehensive family office services to ultra-high-net-worth individuals and families. Emigrant Bancorp agreed to acquire a majority interest in Fortis, which will serve as cornerstone of new Emigrant Family Office division.
• U.S. Realty AdvisorscoreStrategic or Co-development PartnerU.S. Realty Advisors is a commercial real estate firm that focuses on equity investments in single-tenant triple net leased properties. Cleveland Private Trust offers this co-investment opportunity to qualified clients as part of the Co-Investment Program.
• Company VenturescoreStrategic or Co-development PartnerCompany Ventures is an early-stage technology investment firm that invests across sectors, with specific focus on digital healthcare, financial services and business software. Leverages Milstein family's extensive venture ecosystem including 22 Vanderbilt technology campus.
• Abacus Finance (Direct Lending Program)coreStrategic or Co-development PartnerAbacus focuses on originating senior secured loans to private equity sponsored, U.S.-based lower middle market companies. The Abacus Direct Lending Program is offered as part of the co-investment opportunities to Cleveland Private Trust clients.
• Emigrant PartnerscoreStrategic or Co-development PartnerEmigrant Partners is a capital and advisory services partner that invests in wealth and asset management firms with approximately $65 billion in combined assets. They invest with a long-term perspective providing stable capital and growth support.
• New York Private Bank & TrustcoreOthersNew York Private Bank & Trust offers fully integrated investment advisory, trust, lending, and other banking and family office services to serve the needs of wealthy individuals and families. CPTCO draws on their deep bench of investment professionals.
• Emigrant BankcoreOthersEmigrant Bank is the parent company of Cleveland Private Trust (through Ohio Wealth Partners holding company). Founded in 1850, it is one of the largest family-owned and operated banks in the US, managed by the Milstein family.
• SummitassupportingTechnology or IntegrationSummitas is a wealth management portal to create a virtual family office with secure email, digital vault, and access to unique services. Available to Cleveland Private Trust clients.
• Aperture Media PartnerssupportingOthersAperture Media Partners is a specialty finance and advisory company focused on extending credit solutions to producers, studios, sales agents, and other borrowers in the filmed entertainment sector.
• Emigrant Business Credit CorporationsupportingOthersA subsidiary of Emigrant Bank providing innovative fixed asset and equipment financing from companies located throughout the United States.
• Emigrant Bank Fine Art FinancesupportingOthersThe art financing subsidiary of Emigrant Bank lending money to clients using their art and antiques as collateral, offering competitive bank interest rates and discreet professional service.
• Galatioto Sports PartnerssupportingOthersGalatioto Sports Partners (GSP) provides best-in-class advisory, lending, capital raising, and other services to clients in the professional sports industry.
• Personal Risk Management SolutionssupportingOthersPersonal Risk Management Solutions is a boutique personal insurance brokerage focused on the unique needs of successful individuals and families.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Regional players

• Key Private Bank: Ohio-headquartered wealth and private banking arm of KeyCorp. Regional incumbent focused on HNW households in the Midwest with trust, investment management, and credit solutions — direct competitor in CPTCO's home geography with significant overlap in client profile.

Direct peers

• Bessemer Trust: Privately held, family-owned multi-generational trust and wealth management firm serving HNW/UHNW families with investment advisory, trust, and family office services. Closest structural analog to CPTCO: independent, fiduciary-only, fee-based, serving similar client profiles with similar services.
• Glenmede: Independent, employee-owned wealth manager and trust company serving HNW families, foundations, and endowments. Closely comparable in service menu, SMA-led model, and discretionary trust administration; CPTCO's incoming CEO Linda Olejko previously led Glenmede's Northeast Ohio region.
• GenSpring Family Offices: Multi-family office serving UHNW families with investment, trust, and family governance services. Closely comparable to CPTCO's premium-tier offerings, especially trust administration and family advisory; smaller and more niche than Northern Trust-scale incumbents.
• Sarasota Private Trust Company: Sister private trust company under the Emigrant / Milstein network serving HNW families on Florida's Gulf Coast with fiduciary and wealth services. Operates the same business model as CPTCO in a different geography and effectively functions as a sister affiliate within the same competitive set.
• Fortis Management Group: UHNW family office services firm being acquired by Emigrant Bancorp (parent of CPTCO) to form the Emigrant Family Office division. Becoming an affiliate rather than a competitor, but pre-deal was a direct competitor for the same CPTCO target client with overlapping trust and family-office offerings.
• Wilmington Trust (M&T Bank Wealth Advisors): Wealth advisory and corporate trust services firm now part of M&T Bank, serving HNW families and institutions with investment management, trust, and estate services. Comparable to CPTCO's full-stack fiduciary offering with overlapping corporate trust capabilities.
• Ascent Private Capital Management (US Bank): UHNW-focused wealth platform inside U.S. Bank offering investment management, wealth planning, trust, and credit to households typically $25M+. Direct competitor in the UHNW trust and family-wealth space though operating inside a much larger bank.

Broad incumbents

• Northern Trust Wealth Management: Large publicly traded global wealth manager with deep HNW/UHNW practice including personal trust, investment advisory, and family office services. Overlaps with CPTCO on HNW trust and SMA offerings but at vastly greater scale (>$300B wealth AUM) and breadth.
• Charles Schwab Wealth & Trust (former US Trust franchise): Large-scale HNW wealth and trust franchise providing investment advisory, trust, and lending services. Competes with CPTCO on multi-generational planning and SMA solutions but at much greater scale and broader geographic reach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 Cleveland Private Trust Company