SAN FRANCISCO, CALIFORNIA / ACCESS Newswire / September 22, 2025 / Parallel Advisors, LLC, a premier independent wealth management firm, today announced it has received approval from the California Department of Financial Protection and Innovation (DFPI) for a California Chartered Trust License. This approval establishes Parallel Trust Company of California (PTCOCA) as a new operating entity within the state.
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Parallel Trust Company of California will provide comprehensive trust services to individuals, families, and businesses throughout California, including asset management, estate planning, and other fiduciary services.
"Receiving our California Trust Charter represents a significant milestone in our evolution as full service advisors to our clients," said C.J. Rendic, CEO of Parallel Advisors. "The formation of Parallel Trust Company of California reflects our ongoing investment in client-focused innovation and growth, and is a direct response to requests from our clients. Having our own independent trust company unlocks immense potential and is another step toward Parallel Advisors' comprehensive platform approach, delivering an exceptional suite of services to clients with the highest levels of fiduciary care and expertise."
As a California Chartered Trust Company, PTCOCA will adhere to strict standards of capital reserve requirements, risk management, and consumer protection. The charter authorizes the company to act in various fiduciary capacities, including as trustee, executor, and estate administrator. Heather Katzenstein, Trust Services Director, will lead the Trust initiative.
"Our trust services are designed to provide clients with security, continuity, and expert management of their assets," added Katzenstein. "As an independent trust company, we can focus exclusively on providing high levels of service tailored to our clients' specific needs. With this charter, we strengthen our commitment to being a trusted partner through generations, helping clients protect and grow their wealth, and achieve their long-term financial objectives."
PTCOCA will begin offering its services to California residents on September 22, 2025.
About Parallel Advisors
Parallel Advisors is a registered, independent wealth management firm specializing in active financial planning, solid portfolio construction, and mindful asset allocation designed to help individuals, families, and trusts accomplish their financial goals. Based in San Francisco, and with offices in Dallas, Dayton, Denver, Durango, Durham, Honolulu, Reno, and Scottsdale, Parallel provides innovative, comprehensive solutions for all clients. Parallel Advisors proudly manages $10 billion in client assets and offers deep expertise in tax and estate planning and robust investment management.
Contact Information
Annie Boschetti
Principal & Head of People
annie.boschetti@paralleladvisors.com
415.728.9357
SOURCE: Parallel Advisors
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/parallel-advisors-llc-announces-california-trust-charter-and-formati-1076230
