Greenleaf Trust is a comprehensive wealth management firm with specialized disciplines in goals-based wealth management, trust administration and retirement plan services. As one of Michigan’s first privately held and managed trust-only banks, our independence frees us from conflicts of interest and ensures that our clients’ well-being is at the center of everything we do. Client-aligned and talent-driven, we adhere to the highest standards of fiduciary excellence, while providing personalized service and customized solutions.
C HAIRM AN’ S LE TTE R
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WILLIAM D. JOHNSTON CHAIRMAN
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ON BEHALF OF OUR BOARD OF DIRECTORS AND THE FABULOUS TEAM OF EMPLOYEES AT GREENLEAF TRUST, IT IS MY HONOR TO PRESENT TO YOU OUR TWENTIETH ANNUAL REPORT. This year’s report is especially significant as it celebrates our twentieth anniversary. In October of 2018, we hosted a legendary celebration for our clients and friends of Greenleaf Trust. It was a magical evening providing us an opportunity to celebrate and give thanks to our clients as well as those who advocate on our behalf. We remain humbled by the opportunity to serve our very loyal clients and remain vigilant in our mission to continuously improve the services to which we dedicate ourselves. By all measures, 2018 was a fabulous year for Greenleaf Trust. It marked the twentieth year of high, double-digit growth in assets under management which now exceed 12 billion dollars in total assets and 10 billion dollars in discretionary assets under management. Whenever I am asked about the longevity of our success in both good and challenging times, I always respond that it is due to a great business culture amplified by a great workplace culture. Our business culture was created by our clients’ wants, needs and desires. The core pillars of that culture created in 1998 remain unchanged. We have no conflicts of interest or proprietary products. We sell nothing and deliver only the highest benchmark of fiduciary and wealth management services. We deliver these services in a team structure which allows our clients to receive the collective wisdom and experience of our entire team of professionals. We purposefully ask our teams to be engaged in a continuous improvement process that asks a very simple yet important question each year: “How can we improve our services for our clients?” A continuous improvement process means little if a company does not commit its resources to human capital, technology, continuing education, training and equipment. I am very pleased to share that every improvement we make on behalf of our clients each year is born in this commitment. Lastly as we say, trust is in our name, it is what we do and what our clients expect and thus we must practice fiduciary services at the highest benchmark possible. Honest and honorable reflect who we are yesterday, today and tomorrow.
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I could not be more proud of the now 122 members of our Greenleaf Trust team. The state and national awards our team earns each year around the content of human capital practices affirms the workplace culture that we are all compelled to engage in and hold dear. When we speak of our Greenleaf Trust family, we live and breathe it. Our team now delivers services in five Michigan cities as well as our affiliate, Greenleaf Trust Delaware in Wilmington, Delaware. No matter the location, the team delivering those services reflects an unwavering commitment to our business and workplace culture founded in 1998 and grounded in the wants, needs and desires of our clients. I invite you to spend time reading the messages from our executive leadership team in the pages of this report. Their comments are noteworthy and reflect their team’s accomplishments as well as strategic initiatives for 2019 and beyond. Our company President,
$12B
IN ASSETS UNDER ADVISEMENT
Michael Odar, and the executive team he leads achieved a record-setting year in 2018. They have delivered to the Board of Directors a challenging plan for 2019 and the board is excited about opportunities detailed in that plan. Our shareholders are committed to investment in our current geographical footprints and opportunities to invest in more regions when those opportunities present themselves. I remain humbled by the opportunity to Chair Greenleaf Trust. We remain dedicated and driven to deliver on our promises. Please enjoy our twentieth annual report and thank you for your business.
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PRESIDENT’ S TTE R LLEETTER
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MICHAEL F. ODAR, CFA PRESIDENT
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OUR YEAR IN BUSINESS PROVED TO BE OUR BEST YEAR EVER. AND ALTHOUGH I AM OFTEN ACCUSED OF PROCLAIMING THIS AT THE END OF EVERY YEAR, IT IS STILL TRUE. You will read throughout this report about what can be accomplished by a talented, dedicated team working together and doing what they love best—serving our clients as a holistic wealth management advisor, fiduciary, and retirement plan provider. Our accomplishments in 2018 were part of our long-term plan to provide top-of-mind holistic wealth management and fiduciary services for our clients in perpetuity through
GROWN FROM SEVEN EMPLOYEES TO
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scalability, sustainability and sophistication. The foundation of this plan was built on our core values: client’s side of the desk, no conflicts of interest, honest and honorable, team-delivered service, continuous improvement, and fiduciary excellence. In 2018, we focused on our culture, key differentiators, successful completion of initiatives that create scale, and purposeful growth.
Entering my twentieth year with Greenleaf Trust and my seventh year as president, I could not be more proud of our team. They set aggressive goals at the beginning of the year, held themselves accountable, and worked together to achieve amazing results. Believing in each other, asking the question “How can I help?” every day, and acting as one team, across multiple divisions and locations, were all important cultural efforts. Differentiating ourselves with continued investments in technology, systems and people enhances our capabilities and top-of-mind awareness. The completion and implementation of large-scale transformational
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projects enables us to do more for clients at a higher level. And finally, purposeful new business actions, continuous improvement of the client experience, and community commitment provide us with the solid platform necessary to build on assets under advisement. As a result of these efforts, we added a record amount of new talented teammates, opened a new office in Bay Harbor, won more and new awards in recognition of our culture, enhanced client portfolio performance, increased assets under advisement to over $12 billion, expanded our fiduciary capabilities, and achieved record client satisfaction results in 2018. We believe our success, in 2018 and in the future, is directly linked to meeting our clients’ needs and exceeding their expectations. We are committed to continuous improvement and consider it an honor and a privilege to work on our clients’ behalf.
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CLIE NT CENTRIC TEAM
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DANIEL J. RINZEMA, CFA, CFP®, CTFA EXECUTIVE VICE PRESIDENT, CHIEF CLIENT OFFICER
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THE CLIENT CENTRIC TEAM’S DAILY MISSION IS TO PROVIDE REMARKABLE SERVICE THROUGH THE DELIVERY OF HOLISTIC WEALTH MANAGEMENT, ADVANCED FINANCIAL PLANNING, AND EXPERT TRUST ADMINISTRATION. We pursue this aim by focusing first and foremost on the needs of our clients. We then leverage the collective wisdom of the team to provide highly personalized service and conflict-free, customized solutions. The year 2018 was both gratifying and humbling in this regard as the client centric team worked to create a consistently positive impact felt by our clients, community and culture.
CLIENTS Every tangible improvement we have made on behalf of our clients stems from a disciplined review of our practices. As we look for opportunities to serve our clients better, we begin by listening to those that matter most—our clients. Simply put: When our clients speak, we listen. Our annual client satisfaction survey is designed to gauge Greenleaf Trust’s collective efforts from our clients’ perspective. We not only want to know if we are delivering on our promises, but we also crave candid feedback on our shortcomings. Analyzing the results
99%
CLIENT RETENTION 12
helps us more closely align our daily impact with the voice of our clients, while gaining a better understanding of how our clients feel about Greenleaf Trust’s personalized service and customized solutions. By listening to client comments and suggestions, we are better able to enhance the services we provide on their behalf. The following is a summary of what we heard our clients say:
2018 CLIENT SATISFACTION SURVEY RESULTS: PERSONAL TRUST & WEALTH MANAGEMENT 100% find their client centric team members to be easily accessible 99% feel their questions and concerns are answered in a prompt and satisfactory manner 98% are satisfied with the frequency of contact 99% feel as though they are treated as a very important client 100% believe we listen to and understand their unique goals and objectives 99% believe their accounts are tailored to meet their unique financial goals and objectives 97% believe we are successful in meeting their investment needs Satisfaction scores with our account statements, performance reports and newsletters uniformly exceeded 99%
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While we are pleased with the high marks received, we recognize there is always room for improvement. So, in order to achieve our standing goal of 100% client satisfaction, we are intently focused on the specific suggestions and comments provided by our clients. As a result, we already have initiatives in progress that most notably include adding more functionality to our online client portal, mywealth™ by Greenleaf Trust, as well as increasing the frequency of economic and financial market updates from our in-house research team.
COMMUNITY AND CULTURE For clients of Greenleaf Trust, financial security is measured in generations. Founded in Michigan as a private, trust-only bank, we are chartered to remain independent in perpetuity. It is with this time frame in mind that we strengthened our commitment and presence in each of the communities we serve during the year. We added talent to all of our offices around the state of Michigan, and hosted our third and largest “Day of Caring.� Teammates were given the day to form groups and volunteer together at a nonprofit of their choosing within their respective communities. Over 800 hours on this day alone were spent giving back to food pantries, youth programs, resource centers and other nonprofit institutions within the communities in which we live, work and seek to remain deeply rooted. We remain focused on a culture of fiduciary excellence and professional development. In addition to growing our sense of community around the state, many client centric team members participated in panel discussions as industry experts within the financial services community. We take great pride in recognizing personal growth, growth in role, and impact in role within our overarching mission of remarkable client service. During the year, three team members graduated from National and Graduate Trust School through the American Bankers Association, while others earned respected industry designations including the
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Certified Trust Financial Advisor (CTFA). Several teammates were also recognized for their growth and impact throughout the year, receiving the following promotions: Hanna M. Channell—Client Centric Team Specialist Wendy Z. Cox—Fiduciary Officer, Director of Personal Trust James R. Curry—Assistant Director of Wealth Management Lyndsay J. Deery—Senior Team Service Coordinator Jennifer L. Dohm—Team Service Coordinator II Autumn L. Fromm—Team Service Coordinator Kevin E. Jawahir—Vice President, Assistant Director of Personal Trust and Business Development Sanford C. Leestma—Senior Wealth Management Advisor Melinda P. Shull—Senior Trust Relationship Officer Sharon K. Sleeper—Team Service Coordinator II Melissa L. Thompson—Estate Service Coordinator Kristen M. Tidd—Senior Trust Relationship Associate As always, we are committed to earning our clients’ trust anew each and every day. Our team has one and only one priority—providing each client with remarkable service through personalized wealth management and trust administration in alignment with our standards of fiduciary excellence. We remain honored and humbled by our clients’ continued trust and confidence.
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RETIREMENT PLAN DIVISION CHRIS A. MIDDLETON, CTFA EXECUTIVE VICE PRESIDENT, DIRECTOR OF RETIREMENT PLAN DIVISION
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THE RETIREMENT PLAN DIVISION EXPERIENCED A STRONG YEAR IN 2018, AS EVIDENCED BY GROWTH IN THE CLIENTS WE SERVE AND ASSETS WE OVERSEE. We enjoyed our third highest year of asset growth and now administer over $1.2 billion in retirement plan assets. Client satisfaction is a key driver to our growth. In 2018, we conducted our biennial client satisfaction survey. Once again, we received very high marks, which reflected satisfaction levels ranging from 95% to 100% ratings throughout all categories. Despite strong results, there were a few areas that we identified for improvement, thanks to the candor of our clients. Their feedback has helped inform initiatives we will pursue in 2019. The number of participants we serve has increased to 20,000. Correspondingly, the number of calls we receive through our participant call center has risen to 1,000 calls per month. It is important that these participants get prompt responses to their questions, so we are investigating the addition of text and/or chat options to our service platform. We also added outstanding talent, Lisa Hojnacki, to our team. This gives us the scale necessary to maintain the highest participant service standard. Our entire participant services team is passionate about ensuring our participants are better prepared for retirement each and every year. Sound plan governance is a major aspect of a successful retirement plan and our clients rely on our ability to accurately administer their plan. Our clients deserve the peace of mind that comes with validation that the financial transactions of their plans are cross-checked and monitored for accuracy. We employ independent auditors to test the measurable controls of our retirement plan transactions. This testing of processes and transactions remains an important measure of our capabilities and reflects the quality of our recordkeeping and relationship management team services. The final report revealed a clean audit of our transactions, indicating that clients can trust their plan assets are in good hands. Greenleaf Trust’s entire retirement plan team remains honored to work on behalf of the 20,000 participants across more than 150 employer-sponsored plans. This promises to be another year of improvement as we continue on our mission of providing great plan governance and strong participant outcomes, ensuring the best possible results for our clients. 17
RESEAR CH
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NICHOLAS A. JUHLE, CFA®
VICE PRESIDENT, DIRECTOR OF RESEARCH
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FOLLOWING A 2017 CHARACTERIZED BY EXCEEDINGLY LOW VOLATILITY AND STRONGER-THAN-EXPECTED RETURNS, 2018 SERVED NOT ONLY AS A REINTRODUCTION TO CERTAIN INVESTMENT REALITIES, BUT ALSO AS A REMINDER OF THE IMPORTANCE OF STAYING DISCIPLINED. Whether it was stocks around the globe, government debt, corporate bonds, or commodities, flat to negative investment returns were the norm in 2018. Heading into the year, our communications reflected our expectation that future returns might be lower, as the combination of high stock valuations and low interest rates dampen prospects for future growth. Still, 2018 was uncommon in the lack of market bright spots, and it was a difficult year for generating positive returns. Against a challenging market opportunity set, our portfolios
1,000+ WEALTH MANAGEMENT CLIENTS
largely held their own in 2018. Internally managed strategies— including the intrinsic value strategy (core domestic equity) led by Ali Fahs, and core fixed income led by Chris Burns—posted strong performances relative to their respective benchmarks for the second year in a row. Likewise, under efforts led by Lucas Mansberger, most of our third party managers, or funds, delivered healthy performances as well.
During the year, we also took steps to address portfolio recommendations that were not meeting our expectations, most notably in the alternative assets allocation area. In June, after thoroughly reviewing the strategies represented in the allocation, we recommended several changes to the lineup as well as an overall reduction in exposure. In November, we further reduced the allocation after the unexpected retirement of a fund manager. Looking forward, we believe portfolio-level changes implemented during the year position our clients favorably heading into 2019. 20
As a research team, our mission is to create comprehensive investment solutions that help our clients reach their financial goals. Supplemented by the resources of an institutional investment consultant, our in-house team includes professionals specializing in portfolio construction, asset allocation, manager selection, equity research, fixed income research, alternative investments, and trading. Our success depends heavily on the continued growth and development of our team. To that end, we announced the following promotions in 2018: Lucas Mansberger, Investment Strategist, Senior Manager Selection Analyst; Chris Burns, Investment Strategist, Senior Fixed Income Analyst; and Sam Riethman, Trader. We also added new talent, including: Jacob Barker, Associate Manager Selection Analyst, and Tyler Hook, Research Associate. Lastly, I am pleased to report that Seth Kritzman became Greenleaf Trust’s newest holder of the Chartered Financial Analyst® designation. Despite an ever-changing landscape, our clients remain our top priority. We continue to serve their best interests, supported by our ongoing investment in the talent and tools comprising our platform, our disciplined approach and long-term orientation, and investment decisions made in alignment with our established investment philosophy. On behalf of the entire division, we remain both honored and humbled by the opportunity to manage our clients’ wealth.
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THE FAMILY OFFICE AT GREENLEAF TRUST THOMAS A. DEMEESTER, J.D. MANAGING DIRECTOR
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WHAT TRULY DISTINGUISHES THE FAMILY OFFICE AT GREENLEAF TRUST IS NOT ANY ONE OF THE SOLUTIONS WE OFFER BUT, RATHER, THEIR ENTIRETY. Any and all are accessible to our client families at whatever level of engagement they may desire. To ensure that a family is controlling its wealth and not the other way around, we work in concert with the family’s trusted advisors in order to fully integrate our collective knowledge and insights. Our experience in 2018 certainly validates that multigenerational wealth management is best achieved when those who have a stake in its success also have a voice in its execution. As an operating division of a privately held and managed trust-only bank, The Family Office at Greenleaf Trust has the agility and independence to deliver robust, intelligent solutions and exceptionally high levels of personalized service. Our ability to serve as a Michigan and/or Delaware fiduciary under directed trusts is one such example. Moreover, our family wealth advisory services (family wealth blueprint design, execution and management) combined with our comprehensive and consolidated wealth reporting capabilities support our ability to collaboratively serve our client families. In 2018, we worked with families at every level of the wealth continuum—first generation wealth creators, second generation family investment and fiduciary offices, as well as multigenerational single family offices. Their needs are complex and diverse. How well a client family is able to address those needs, and the extent to which we are asked to provide solutions, tends to reflect the family’s overall level of wealth and the number of generations involved. As a rule, as wealth increases, and family involvement increases, so does complexity and the need for sophisticated data, asset management and fiduciary services. The Family Office at Greenleaf Trust provides enduring solutions at every tier, sometimes more, sometimes fewer, depending on the size and capability of the client’s own staff and advisory team. We remain privileged to work alongside our client families, their staff and advisory teams. We look forward to the opportunities 2019 will bring our way.
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OPERATIONS THOMAS L. DREWS, CSOP CHIEF OPERATING OFFICER
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TIMELY, ACCURATE, EFFICIENT TRANSACTION PROCESSING AND REPORTING FOR OUR CLIENTS—THIS IS THE MOTTO THAT THE GREENLEAF TRUST OPERATIONS TEAM WORKS TOWARD EVERY DAY. In 2018, the operations team once again made significant process improvements to better serve clients. Project teams were successful in improving and automating disbursement requests, asset transfers, cost basis reporting and income processing. Our talented team of 12 members, led by Peggy Anderson, all embrace the idea of process improvement as part of their daily work. I am proud that our top-notch operations team continues to raise the bar each year. Significant tax reporting improvements were also implemented in 2018. Hollie Kemner, Senior Tax Specialist, made improvements to the accuracy of our tax reporting and to communication with partner CPAs and client centric team members. We look forward to continued growth in this space. Finally, I am pleased to announce the promotion of Hayley Smith-Bailey, Trust Operations Analyst, and Kim Van Duine, Vice President, Assistant Director of Operations. Hayley is primarily responsible for document preparation and account opening. Kim continues to display valuable leadership qualities that enhance our culture of process improvement and team member empowerment. These promotions are a reflection of the hard work and dedication that our team members display every day. We are honored to serve on our clients’ behalf and look forward to continuing our journey of process improvements to better serve their needs.
12-PERSON OPERATIONS TEAM PROCESSES
1 MILLION TRANSACTIONS A YEAR
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HUMAN RESOURCES
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KAREN BALDWIN, CSP, SHRM-SCP VICE PRESIDENT, DIRECTOR OF HUMAN RESOURCES
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WE BEGAN 2018 WITH OUR RUNNING SHOES ON AND HAVE KEPT THEM TIED TIGHT ALL YEAR! Following the changes and great growth of 2017, we had an opportunity to refine and improve our on-boarding and interviewing processes to be more inclusive and make our team members more effective. We were fortunate enough to be able to review over 2,000 resumes in search of the most talented, client service-related individuals to bring on to the Greenleaf Trust team. From those 2,000 resumes, we hired and on-boarded 15 team members, four of which were for Birmingham and Traverse City. As with every new hire, the Greenleaf Trust family pulled together to create new relationships and make each new team member feel comfortable and welcomed. During 2018, the following positions were filled by external candidates: Jacob A. Barker—Associate Manager Selection Analyst Anne M. Bohl—Wealth Management Coordinator Thomas B. Bondy—Special Asset Associate-Birmingham Leslie L. Coyle—Managing Director-Birmingham Corbin M. Donaldson—Wealth Management Advisor-Traverse City Autumn L. Fromm—Client Service Representative Kathryn J. Gadbois—Trust Relationship Associate Lisa A. Hojnacki—Participant Services Coordinator Tyler Hook—Research Associate Bradley S. LaTour—Vice President, Trust Relationship Officer-Traverse City/Kalamazoo Jacob D. McMullin—Trust Operations Specialist Michael Mikrut—Wealth Management Associate Melina Reed—Trust Operations Specialist Brian L. Schafer—Trust Operations Specialist R. Cory Spaulding—Trust Relationship Officer
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Three positions were filled by internal team members: Brian C. Farrell—Wealth Management Associate Jermaine J. Johnson—Application Systems Analyst Jacob D. McMullin—Tax and Client Reporting Specialist
92% TEAM MEMBER RETENTION RATE
With all the new additions and progress experienced during 2018, we are proud to have received an 85% on our cultural assessment, which measures team members’ satisfaction and engagement/inspiration. Of the positions filled this year: 56% of our new team members were referred to Greenleaf Trust by someone they knew within the organization; 78% of our positions were filled within 90 days; and we enjoyed a 92% team member retention rate. We have four generations employed at Greenleaf Trust, all working together to learn and grow. As we prepare for the next five to ten years, we will be reviewing and evaluating employees and their talents to determine succession planning for our organization and identify any gaps we may have. Continued education and staying abreast of the changes within our industry through designations and certifications continues to raise the knowledge bar each year. We are honored to recognize the following individuals for their dedication during 2018: Thomas L. Drews—Certified Securities Operations Professional (CSOP) Jermaine J. Johnson—M.B.A. Seth E. Kritzman—Chartered Financial Analyst® (CFA®) Melinda P. Shull—Certified Trust and Financial Advisor (CTFA) Kristen M. Tidd—Certified Trust and Financial Advisor (CTFA) As 2019 begins, we’ll be on-boarding five new team members in January. The HR team remains committed to finding ways of creating diversity, maintaining our culture and supporting our divisions and team members so they’re able to offer the best possible service. Thank you for partnering with us. We’re excited for the continued growth of our team, as well as yours in 2019. 29
MARKETING & NEW BUSINESS DEVELOPMENT
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SARAH A. JOHANSSON
VICE PRESIDENT, DIRECTOR OF MARKETING
DANIEL L. BAKER, J.D., CTFA
VICE PRESIDENT, DIRECTOR OF BUSINESS DEVELOPMENT AND TRUST RELATIONSHIP OFFICER
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THE MARKETING AND NEW BUSINESS DEVELOPMENT TEAMS LEVERAGED GREENLEAF TRUST’S TWENTIETH ANNIVERSARY TO FOCUS ON ONE OF OUR GREATEST STRENGTHS— INCREDIBLE CLIENT CARE. During the year, we refreshed our marketing toolbox by introducing a new advertising campaign along with supporting materials, all while planning and executing a multitude of client events. On the heels of a strong 2017, our pace of adding new clients and assets under management continued unabated in 2018, with particularly strong gains once again in Northern Michigan. We are pleased to report that referrals from clients and the professional advisor community continue to fuel our growth. We are joined by the extended Greenleaf Trust team as we collectively drive our company’s forward momentum. Notable marketing and new business initiatives in 2018: •
Greenleaf Trust’s twentieth anniversary celebration, featuring special musical guest, John Legend
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Updates to our portfolio of marketing materials, including our capabilities brochure, topic-focused handouts, and core culture video
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Production and distribution of the 2018 Annual Report
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Production and launch of a new advertising campaign
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Engagement of a national public relations firm to extend our outreach and audience
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Hosting of more than 70 formal marketing events
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Entertainment and education for more than 2,500 clients and friends
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Production of the annual client calendar, featuring artwork from Boys & Girls Clubs of Greater Kalamazoo, Child Safe Michigan, Mind Meets Music, and Traverse Bay Children’s Advocacy Center
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Corporate sponsorships and contributions supporting more than 50 civic and cultural organizations
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Presentation of a cyber security seminar, led by James Martin, Managing Director of Cendrowski Corporate Advisors, LLC
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Published articles and speaking engagements by George F. Bearup, J.D., Greenleaf Trust Senior Trust Advisor
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Published articles by John Graham, founding member of Rogge Global Partners
Notable recognition and awards received by Greenleaf Trust in 2018: •
West Michigan’s Best and Brightest Companies to Work For®
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Metropolitan Detroit’s Best and Brightest Companies to Work For®
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Metropolitan Detroit’s Best and Brightest Companies to Work For®, Elite Winner for Compensation, Benefits and Employee Solutions
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Cool Places to Work in Michigan
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Best and Brightest In Wellness®
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Best and Brightest Companies to Work For in the Nation®
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Wonderful Workplaces by Southwest Michigan First
We hope you enjoyed the past year’s events and outreach as much as we enjoyed sharing them with you. Moving forward in the spirit of continuous improvement, our plans include a full revamp of our website to be completed over the coming months. Until that time, and thereafter, it is our honor and pleasure to be at your service.
70+ FORMAL MARKETING EVENTS
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ANNUAL REPORT
AD CAMPAIGN
TWENTIETH ANNIVERSARY CELEBRATION INVITATION 34
TOPIC-FOCUSED HANDOUTS CAPABILITIES BROCHURE
SEMINAR INVITATIONS
CLIENT CALENDAR
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BOARD OF DIRECTORS
William D. Johnston Chairman
Ronda E. Stryker Vice Chairman
Ronald N. Kilgore Secretary
Ronald A. Elenbaas Barbara L. James Dr. Kay M. Palan Sydney E. Parfet David M. Thoms
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G R E E N L E A F T R U S T. C O M
2 1 1 SO U T H ROS E ST R E E T K A L A M A ZO O, M I 49 0 07 34977 WOODWARD AVENUE B I R M I N G H A M , M I 4 8 0 0 9 1 2 5 PA R K S T R E E T T R AV E R S E C I T Y, M I 4 9 6 8 4 4 0 0 0 M A I N S T R E E T, S U I T E 1 5 0 B AY H A R B O R , M I 4 9 7 70 2 5 O T TAWA AV E N U E S W G R A N D R A P I D S , M I 4 9 5 0 3
Greenleaf Trust Delaware, a Delaware limited purpose trust company, is regulated by the Office of the Delaware State Bank Commissioner. Greenleaf Trust Delaware is wholly owned by Greenleaf Financial Holding Company, a Delaware corporation. Greenleaf Financial Holding Company is also the sole owner of Greenleaf Trust, a Michigan non-depository trust bank regulated by the Michigan Department of Insurance and Financial Services. Both Greenleaf Trust and Greenleaf Trust Delaware provide various fiduciary and non-fiduciary services, including trustee, custodial, agency, investment management and other non-depository services. Greenleaf Trust and Greenleaf Trust Delaware offer personal trust, retirement plan and family office services to families and entities.