FOR IMMEDIATE RELEASE
New Banking Institution Sunstone Trust Open for Business
Sunstone approved as first de novo trust in California in nearly 14 years
LONG BEACH, CA – August 2, 2021 – Sunstone Trust Company has been approved as a de novo trust company by the state of California and has opened operations as a banking institution. Sunstone Trust provides high touch fiduciary and wealth management services and specializes in serving first- and second-generation immigrants.
The company is one of only eight independent trust companies licensed in the state. Sunstone is majority-owned by first-generation immigrants and specializes in protecting the wealth and serving the interests of families and individuals who have immigrated to the United States or desire to do so. Services are available in multiple languages, including English, Traditional Chinese, Simplified Chinese, and Vietnamese.
Sunstone serves client needs comprehensively or in partnership with existing professional advisors. The company manages all types of assets, including stock and bond portfolios, commercial real estate, residential real estate, and private company stock. Sunstone will offer clients access to its proprietary common trust funds.
“More than 1 million immigrants arrive in the U.S. every year looking to build their American dream. Our history and expertise allow us to uniquely serve those coming to the U.S. and growing their wealth. We are committed to being a true industry leader by providing an exclusive blend of trustee services, language services, and unequalled customer service to our clients in the U.S., Asia, and beyond,” says John Shen, Founder and Chairman of the Board.
“We have an opportunity to deliver high-net worth services to communities that have not yet been well-served,” adds Dan Wheeler, CEO, Sunstone Trust Company. “In addition to world-class personal service, we are bringing exciting innovations to the fiduciary wealth management industry. We look forward to being a trusted partner to our clients and to other banks, RIAs, and fiduciaries that want to deliver more and better services to their clients.”
About Sunstone Trust Company
Sunstone Trust is a California-chartered trust company providing wealth growth and management services. The Company’s lead founder, John Shen, is an American success story and has built two other California-based financial companies with more than 500 high-net-worth client families and over $1.2 billion in combined assets under management:
- American Lending Center is a private non-bank lending institution and nationally recognized leader in SBA lending with a focus on minority or women-owned and other disadvantaged small businesses.
- Sunstone Management, Inc. is a diversified private capital management and investment firm that offers comprehensive wealth management solutions to its high-net- worth clients with a focus on investments in U.S. startups, small businesses, and lower middle markets.
Sunstone is a member of the Association of Trust Organizations and the Long Beach Area Chamber of Commerce. For the most up-to-date news, follow Sunstone Trust Company on LinkedIn.