CORNING, NY, Mar. 16, 2015—Market Street Trust Company, a family office and New York state private trust company, received the award for “Multi-Family Office” of the year at the Family Wealth Report Awards 2015 held in New York City. The award was in the category of multi-family offices under $5 billion in assets under management or advisement. Market Street also received accolades for its excellence in advising individuals, families and foundations on their philanthropic activities by winning FWR’s “Philanthropy Offering” award.
“This is truly an incredible distinction for Market Street, and we are proud and honored to accept both of these industry awards,” said Marianne Young, President and CEO of Market Street Trust Company. “Market Street is truly a unique shared family office, and 2014 was a year in which we made great strides – we thoughtfully expanded our business and opened a new office in New York City. We are pleased that the industry has recognized Market Street’s uncompromising commitment to excellence and innovation. It is really a tribute to the evolution of the firm and the service orientation of our entire Market Street team.”
“Market Street has always been known for exceptional client service, so this overall multi-family office award by a leading industry publication like the Family Wealth Report is especially gratifying,” said Rob Elliott, Vice Chairman of Market Street. “We work diligently and creatively to provide best-in-class services for our clients. Even though the recognition we receive from our clients for a job well done is reward enough, this is certainly icing on the cake.”
The Philanthropy Offering Award is given to “private client businesses or practitioners who advise individuals or families on their philanthropic activities.” Market Street has long been an advisor to its client families on their foundations. In 2014, Market Street launched an advisory service to provide private foundations with comprehensive philanthropic management services, including investment management/asset allocation, tax and accounting services, grants management and mission development.
“Our depth of experience with family foundations and other philanthropic endeavors enabled us to develop our comprehensive foundation services program for private foundations that are not necessarily affiliated with our client families,” Ms. Young said. “Our focus is to help private foundations grow and thrive, leaving foundation staff free to pursue their missions while being assured that they are supported by effective management.”
The FWR Awards recognize firms that “have something special to offer, rewarding achievement, showcasing top class performance and innovation.” Nominees and winners are determined by independent expert panels convened by Clearview Financial Media, the world’s leading provider of business intelligence in the private banking and wealth management space, and publisher of the Family Wealth Report.
About Market Street Trust Company (www.marketstreettrust.com)
Founded in 1909 and based in Corning, NY, Market Street Trust Company is a shared multi-family office providing comprehensive, attentive wealth management services for high-net worth families, many of them spanning multiple generations. Market Street is