What does Truist Wealth Management do?
Truist Wealth Management refers to the financial advisor and wealth management services offered through Truist Advisory Services, Inc. (TAS), the SEC-registered investment adviser. TAS offers Asset Management Consulting (“AMC”) wrap fee programs, financial planning services, and model manager, research, and other advisory support.
Truist Financial Corporation was formed in 2019 through the merger of BB&T Corporation and SunTrust Banks, Inc. Its wealth offering is mainly around higher-balance households, with Signature for $1 million to $3 million in investments, Reserve for $3 million to $25 million, and GenSpring for $25 million or more. The firm also offers AMC Programs that are available to individuals, corporations and other business entities, pension and profit-sharing plans, charitable organizations, and not-for-profit organizations.
The key services:
- AMC advisor managed programs
- AMC advise
- AMC allocation plus
- AMC annuity
- TAS and third-party managed programs
- AMC Fund Select Tactical
- AMC Fund Select Tactical Focus
- AMC Pinnacle
- AMC Premier
- Envestnet Sentry
- AMC Truist Invest
- Financial Planning Services: Planning support covering client-provided information such as income, assets, investments, liabilities, retirement goals, and spending goals. More advanced planning may be requested from a TAS Advisor.
- Investment Advisory Group services: TAS’ Investment Advisory Group designs and monitors model portfolios and asset allocation models, performs due diligence on managers, model providers, mutual funds, and ETFs, and provides equity and fixed-income research used by TAS Advisors.
The investment philosophy is not a single portfolio style, but is based on client goals, risk tolerance, time horizon, financial situation, restrictions, risk-based asset allocation, advisor judgment, model portfolios, and third-party manager research. The firm also uses historical data analysis, business-cycle indicators, financial fundamentals, and market signals.
What are the pros and cons of Truist Wealth Management?
Truist Wealth Management’s main strength is its broad, advisor-led support model. Its main drawback is the complexity of its fees and program structures.
Here’s a summary of the key advantages and disadvantages to guide your choice.
Pros of Truist Wealth Management:
- Broad advisory platform: Clients can choose from multiple AMC programs rather than one standardized portfolio model.
- Human advisor access: TAS Advisors have direct contact with clients in the main advisor-managed and model-account programs.
- Financial planning availability: AMC clients can request planning support alongside investment advisory services.
- Research and due diligence support: TAS’ Investment Advisory Group supports model design, manager due diligence, and investment research.
Cons of Truist Wealth Management:
- Potentially high fees: Several main AMC programs have a maximum program fee of 2.25%.
- Program minimums vary by account type: Minimums range from $5,000 for AMC Truist Invest to $100,000 for AMC Allocation Plus, AMC Premier, and Envestnet Sentry, which means the required entry point depends heavily on the selected program.
- Complex program menu: The service can be hard to compare because discretionary, non-discretionary, third-party, annuity, and automated programs operate differently.
- Extra costs can apply: Third-party model provider, investment manager, annuity, ETF, mutual fund, overlay, and other fees may add to the base program fee.
Truist Wealth Management fees: How much does Truist Wealth Management cost?
Truist Wealth Management pricing depends on the advisory program. The core AMC wrap programs charge an asset-based program fee. The program fee is negotiable and may vary by account type, account size, services provided, relationship scope, and other factors.
Program or fee type | Fee |
|---|---|
AMC Advise, Allocation Plus, Fund Select Tactical, Fund Select Tactical Focus, Pinnacle, Premier, Sentry | Maximum program fee is 2.25% |
AMC Truist Invest | 0.85% annual fee |
AMC Annuity | Maximum 1.50% up to $25 million; 1.45% above $25 million |
Clients can also pay mutual fund, ETF, annuity, private fund, retirement account, transfer, wire, tax/impact overlay, charitable giving account, or other product-level costs, depending on what they use.
What is Truist Wealth Management’s minimum account size?
The minimum amount varies depending on different services.
Program or experience | Minimum or threshold |
|---|---|
AMC Truist Invest | $5,000 |
AMC Fund Select Tactical Focus | $10,000 |
AMC Fund Select Tactical | $25,000 |
AMC Pinnacle | $25,000 |
AMC Advise | $50,000 |
AMC Annuity | $50,000 |
AMC Allocation Plus | $100,000 |
AMC Premier / Envestnet Sentry | $100,000 varies by manager |
Signature wealth | $1 million to $3 million |
Reserve wealth | $3 million to $25 million |
GenSpring wealth | $25 million+ |
Who should choose Truist Wealth Management?
Truist Wealth Management works best for clients who want a wealth platform with a human advisor, multiple advisory program choices, and access to planning, investment management, trust, estate, lending, and banking-related services.
Truist Wealth Management works well for:
- Affluent and high-net-worth households: Truist is better suited to clients with larger portfolios who want coordinated investment management, planning, banking, lending, and wealth services in one relationship.
- Investors who want a financial advisor: The service fits clients who prefer working with a human advisor rather than managing investments entirely on their own.
- Clients who want several advisory options: Truist fits investors who want flexibility in how their money is managed, from advisor-managed portfolios to model-based and third-party managed strategies, rather than a single standardized portfolio service.
- Clients with more complex financial needs: It can fit people who need more than basic portfolio management, such as retirement planning, estate and trust coordination, charitable planning, business-owner planning, or family wealth support.
Who might not benefit as much:
- Cost-sensitive investors: Truist’s advisory fees can be high, and some programs may add third-party manager, model, product, or overlay fees on top of the main program fee.
- Smaller-balance investors: Truist Wealth Management is mainly built for affluent and high-net-worth clients, so investors with smaller portfolios may find the service harder to access.
- Clients who want a simple investment service: Truist has many advisory programs, fee layers, and account structures, which can feel too complex for investors who just want one straightforward managed portfolio.
Truist Wealth Management: Is it secure?
Truist Wealth Management has standard regulatory and account protections. Truist Advisory Services, Inc. is an SEC-registered investment adviser.
Clients generally hold advisory assets through Truist Investment Services, Inc. (TIS), Truist’s affiliated broker-dealer and a FINRA/SIPC member. TIS clears trades through National Financial Services LLC (NFS), and NFS, as its agent, has custody of securities held in AMC Program accounts.
Truist also provides digital protections such as encrypted technology, account alerts, card controls, and two-factor authentication through one-time passcodes or biometric identification.
Truist Wealth Management: Customer service
Truist Wealth Management is mainly an advisor-led service. In most advisory programs, clients work directly with a Truist Advisory Services (TAS) advisor. For accounts using outside investment managers, clients generally work through Truist.
For general support, Truist offers phone service, branch visits, appointment scheduling, and an advisor search tool. It also provides dedicated support for investment and wealth management clients.
Truist Wealth Management: Mobile app
The firm offers an app named Truist Mobile, the official app from Truist Financial Corporation. Apple lists the app at 4.8 out of 5.
For wealthy clients, Truist says online and mobile banking can show investment portfolio accounts, account history, transactions, market research, statements, tax documents, and faster transfers between Truist deposit and brokerage accounts. The app also supports general banking features such as account details, transfers, alerts, biometric sign-in, mobile deposits, and support access.
Is Truist Wealth Management worth it?
Truist Wealth Management is worth considering for affluent clients who want more than basic portfolio management. Its main value is the combination of financial advisors, managed portfolios, planning support, and broader wealth services.
The main trade-off is cost and complexity. Advisory fees can be high, extra product or manager fees may apply, and the service includes many program options that may feel confusing for investors who want a simple, low-cost portfolio.
Overall, Truist Wealth Management makes the most sense for clients who want one advisor-led relationship to cover investments, planning, and broader wealth needs.
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