By: Deborah Johnson Wood
At a time when many financial institutions are struggling to survive in a tough economy, Grand Rapids’ Legacy Trust is expanding by opening its first branch office. The new location, 246 S. River Ave, Holland, positions Legacy Trust to attract and service clients in the Lakeshore market.
Legacy Trust, founded in 2004, provides wealth management and other services to high net worth clients and currently manages over $230 million in assets.
“We’re stepping out and being cautiously optimistic,” says Bob Prevette, president and co-founder with William Walker. “We have some client relationships in the communities along the Lakeshore, so we’re already going out there regularly. We know there’s a need for our services because there’s wealth there, and we’ve seen competitors leave the area.”
Legacy hired Andrew F. Saewert to develop the market and oversee the branch. Saewert is an attorney and an experienced financial professional, formerly with Holland Trust and as a vice president of Fifth Third Bancorp.
“Andy is also a resident of the Holland area and has worked in the banking industry there,” Prevette says. “He knows where the opportunities are for us. With his law background and administrative experience he’s a pretty seasoned relationship manager; he finds clients and brings them on board.”
Prevette expects the new branch will create at least one more job in the near future, that of an executive assistant to Saewert. Within the next 12 months, Prevette hopes to hire another executive level officer.
“Who knows where it will go from there,” Prevette says.
Source: Bob Prevette, Legacy Trust; Mary Ann Sabo, Sabo Public Relations
Deborah Johnson Wood is development news editor for Rapid Growth Media. She can be contacted at [email protected].
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