#United States #St. Paul #Fiduciary Services #Kerri Scharr #Cetera Trust

Kerri Scharr Takes the Helm as Chief Fiduciary Officer at Cetera Trust

Cetera Trust Company, based in St. Paul, Minnesota, has appointed Kerri Scharr as its new Chief Fiduciary Officer. Scharr brings two decades of experience from Fidelity Personal Trust Company, where she honed her expertise in fiduciary services and compliance. Reporting directly to CEO Scott Baker, her role at Cetera Trust will focus on expanding the firm's trust services and ensuring adherence to fiduciary and regulatory standards.

In her new position, Scharr will play a critical role in enhancing the client experience for advisors in the Cetera Financial Group. Jeffrey Buchheister, CFO of Cetera, emphasizes the potential value that broadened trust services will provide to advisors, showcasing the firm’s commitment to delivering personalized service alongside its robust infrastructure. The goal is to create a strong trust offering that benefits advisors and their clients, while also managing the complexities that come with this expansion.

Cetera Trust, with roots tracing back to 1928, operates under a national banking charter regulated by the Office of the Controller of the Currency. The firm has recently acquired trust assets from Securian Financial Services, complementing its strategic goal of enhancing trust operations nationwide. This new chapter for Cetera Trust is apparent with the establishment of a new office in New Hampshire, a state recognized for its favorable trust laws that can benefit both clients and advisors significantly.

The strategic advantage of New Hampshire's advantageous trust statutes is critical, as Baker notes, “Having trusts administered in a state like New Hampshire can have immediate impacts for our advisors and their clients.” The potential for tax benefits becomes especially relevant for high-net-worth individuals looking to manage wealth for heirs or charitable causes, highlighting the deep value of trust services in wealth management today.

Scharr's enthusiasm regarding her new position was palpable, stating, “I'm truly excited to join Cetera Trust and help create meaningful value for advisors and their clients.” She articulates that a dedicated corporate trustee not only handles essential functions such as recordkeeping and tax obligations but also ensures that clients receive professionalism and continuity in managing their trusts.

Cetera Trust is currently poised at the forefront of innovation in trust services, with plans to showcase its capabilities at the upcoming Connect2Peers 2025 event in Orlando. Advisors interested in exploring enhanced trust solutions are encouraged to visit the Cetera Trust team at the conference. This unveiling of new trust services builds on a robust history while charting an expansive future, with Scharr at the helm to ensure exceptional service delivery.

In summary, Kerri Scharr's appointment as Chief Fiduciary Officer of Cetera Trust marks a pivotal moment for the company as it aims to amplify its trust services and better serve a diverse clientele. With Scharr's leadership, Cetera Trust is not just poised for growth but is also primed to redefine the expectations of trust services in the financial advisory industry.