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TrustCore Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

TrustCore Financial Services is a fee-based firm located in Brentwood, Tennessee. It manages billions of dollars for its clients, most of whom are non-high-net-worth individuals. There are also high-net-worth clients, plus a small number of institutional clients, namely charitable organizations and corporations.

TrustCore’s services include financial planning, portfolio management, pension consulting, selection of other advisors and educational seminars and workshops. 

TrustCore Financial Services Background

TrustCore was founded in 1982. It is a wholly-owned subsidiary of TrustCore, LLC, which also has two other subsidiaries -- a registered broker-dealer and an independent insurance agency. The principal equity holders of the parent company are Darryl Lynn Edmonds, Mikhael Winnie Jacobs and William Craig Reed.

TrustCore Financial Services Client Types and Minimum Account Sizes

Most of the clients at TrustCore are individuals not qualifying as high-net worth, though it does also work with some high-net-worth investors. The firm’s institutional clients are all charitable organizations, investment funds and corporations.

The firm’s SEC documents do not list a minimum account size.

Services Offered by TrustCore Financial Services

The following services are offered at TrustCore:

  • Financial planning
  • Portfolio management
  • Asset protection
  • Cash flow planning
  • Education planning
  • Estate planning and wealth transfer
  • Charitable planning
  • Retirement planning
  • Insurance planning
  • Asset allocation comparisons

TrustCore Financial Services Investment Philosophy

Advisors at TrustCore use a mix of long-term and short-term purchases to build client portfolios, plus margin transactions and option writing. The firm takes into account multiple client factors when building investment portfolios. These include tax considerations, financial goals, risk tolerance, time horizon, income needs and more.

Fees Under TrustCore Financial Services

TrustCore charges one fee for financial planning, portfolio management and other services according to the following schedule:

TrustCore Financial Services Fee Schedule
AUM Annual Fees
First $2,000,000 2.00%
Next $3,000,000 1.50%
Next $5,000,000 1.25%
Next $10,000,000 1.00%
Next $20,000,000 0.75%

What to Watch Out For

There is one disclosure on the record at TrustCore. The firm was sanctioned by the SEC for having inadequate disclosures to clients regarding share classes. This resulted in orders of cease and desist, censure and disgorgement.

As mentioned above, the TrustCore has two sister firms -- a broker-dealer and an insurance company, and some advisors may also be registered as broker-dealer representatives or insurance agents, meaning they can earn commissions for selling clients insurance products or securities. This is a potential conflict of interest. Still, advisors at TrustCore are bound by fiduciary duty to act in the best interest of the client.

Opening an Account With TrustCore Financial Services

To open an account at TrustCore, you can call (615) 377-1177 or fill out the form on this page.

All information is accurate as of the writing of this article.

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How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research