In Glenview Trust Co.’s board, a portrait of many lives enriched

Discretion is everything in the wealth management world. That’s why the court challenge around the Glenview Trust Co.‘s launch 15 years ago grabbed such unwelcome headlines — before it got settled, of course, for $525,000. That controversial start apparently didn’t dent eventual success at the firm, which is akin to a large family office. Its motto: “enriching life.”

Today, Glenview — named for the posh community where the company is located east of Louisville — says it’s the commonwealth’s biggest independent trust company, working exclusively for individual investors. Glenview now represents more than 500 wealthy families, with a combined $6.5 billion in assets.

Its pitch: “Glenview Trust is a local, closely-held company with employee ownership, our professionals act and think differently. We are not accountable to a headquarters in a distant city, which allows us to effectively and efficiently accommodate our clients’ unique situations.”

Glenview has 40 employees, including nine attorneys. How much does it earn servicing those 500-plus families? That’s hard to estimate without knowing the firm’s fee schedule. Industrywide, fees vary widely, often stair-stepping down as account values rise. But applying a relatively low 0.5%, that would generate $33 million a year.

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