4413 CaseStudies c15.indd


1 CASE STUDY | PENNSYLVANIA “Focused” Can Also Be “Flexible” their future development, and being awarded the business. We The Situation had the fi nancial strength that customized our money market A large family business was sold they could trust. and CD rates to ensure that we and the assets prompted the were competitive nationally. creation of a family offi ce. Within about 9 months, the Within about three weeks, the family offi ce agreed to work with The head of the family was family agreed to work with us. us. We had to be able to accept seeking a cash management at least $25 million of deposits solution for the family’s The TriState Capital in order to be considered. We foundation and LLC funds. Thus Advantage agreed, and offered to grow the far, he had been considering very TriState Capital’s combination of relationship to $75 million over large, nonspecialized banks. attractive rates and responsive, time. The prospect showed us family offi ce-focused service The Catalyst: TriState Capital the rates he had received from recognized that this new family has made us an important competitors, and we were able offi ce could benefi t from a dedicated solution for this family’s short- to do better. solution, a trusting bank relationship, term cash management needs. and knowledgeable support as it built Our focus on the unique needs Plan Development and its organization. and qualities of family offi ces Implementation of all levels has proven to be a Demonstrating our ability to Assessing the Fit strategic advantage. The head respond faster and more nimbly Through several personal of the family is impressed by the than a larger bank, we took the meetings between the head professional attention he receives, initiative to build a proposal of the family and our team, we and our client management in two days. Our abilities to made him aware that we were team continues to react quickly listen, assess the family’s needs, a fi rm that could relate to their to any requests or issues. and respond with effective family’s history, could assist in solutions were key factors in Solutions and Results We aspire to become the full cash management solution for this family offi ce, and we also hope to provide lending in the future. Our focus on the unique needs and qualities of all levels of family offi ces has proven to be a strategic advantage.

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