What is Trust Company?

A trust company is a legal entity that acts as a fiduciary, agent, or trustee on behalf of an individual or organization. These companies are typically charged with holding assets that they do not own on behalf of a client, and responsibly managing those assets until they are required by law to be transferred to a specified beneficiary party. Since trust companies are fiduciaries, they have a legally binding responsibility to act on behalf of their clients' financial interests.