Quick Overview
- 1#1: SEI Trust 3000 - Provides comprehensive trust accounting, compliance monitoring, and client reporting for institutional trust administrators.
- 2#2: WealthServ - Delivers specialized trust and agency accounting with robust reconciliation and regulatory reporting features.
- 3#3: TrustQuay - Offers cloud-native trust administration for complex structures, investor servicing, and global compliance.
- 4#4: SS&C Geneva - Multi-asset portfolio accounting and management system supporting trust operations and middle-office functions.
- 5#5: Addepar - Unified data aggregation and analytics platform for wealth managers handling diverse trust portfolios.
- 6#6: Black Diamond Wealth Platform - Integrated wealth platform with CRM, performance reporting, and billing tailored for trust advisors.
- 7#7: Orion Advisor Tech - Portfolio accounting, reporting, and trading solution for advisors managing client trusts efficiently.
- 8#8: Envestnet Tamarac - Advisor workstation for portfolio management, rebalancing, and customized reporting on trust assets.
- 9#9: Morningstar Office - Investment research and portfolio analysis tool supporting trust performance tracking and client proposals.
- 10#10: eMoney Advisor - Wealth planning platform with householding and goal-based reporting for trust administration oversight.
We ranked tools based on core functionality (accounting, compliance, analytics), user experience, and value across institutional and advisory workflows, ensuring relevance to diverse trust administration needs.
Comparison Table
Trust administration software is essential for efficiently managing complex trust operations, and this comparison table features key solutions like SEI Trust 3000, WealthServ, TrustQuay, SS&C Geneva, Addepar, and more. It breaks down critical aspects such as functionality, usability, and compliance support to help readers identify the tool best suited to their needs.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | SEI Trust 3000 Provides comprehensive trust accounting, compliance monitoring, and client reporting for institutional trust administrators. | enterprise | 9.6/10 | 9.8/10 | 8.4/10 | 9.2/10 |
| 2 | WealthServ Delivers specialized trust and agency accounting with robust reconciliation and regulatory reporting features. | enterprise | 9.2/10 | 9.5/10 | 8.7/10 | 9.0/10 |
| 3 | TrustQuay Offers cloud-native trust administration for complex structures, investor servicing, and global compliance. | specialized | 8.7/10 | 9.2/10 | 8.4/10 | 8.1/10 |
| 4 | SS&C Geneva Multi-asset portfolio accounting and management system supporting trust operations and middle-office functions. | enterprise | 8.7/10 | 9.4/10 | 6.9/10 | 8.1/10 |
| 5 | Addepar Unified data aggregation and analytics platform for wealth managers handling diverse trust portfolios. | enterprise | 8.4/10 | 9.2/10 | 7.8/10 | 7.5/10 |
| 6 | Black Diamond Wealth Platform Integrated wealth platform with CRM, performance reporting, and billing tailored for trust advisors. | enterprise | 8.1/10 | 8.7/10 | 7.4/10 | 7.6/10 |
| 7 | Orion Advisor Tech Portfolio accounting, reporting, and trading solution for advisors managing client trusts efficiently. | enterprise | 8.3/10 | 8.7/10 | 8.1/10 | 7.8/10 |
| 8 | Envestnet Tamarac Advisor workstation for portfolio management, rebalancing, and customized reporting on trust assets. | enterprise | 8.1/10 | 8.5/10 | 7.7/10 | 7.6/10 |
| 9 | Morningstar Office Investment research and portfolio analysis tool supporting trust performance tracking and client proposals. | enterprise | 6.8/10 | 7.2/10 | 6.5/10 | 6.0/10 |
| 10 | eMoney Advisor Wealth planning platform with householding and goal-based reporting for trust administration oversight. | enterprise | 7.4/10 | 7.8/10 | 8.2/10 | 7.0/10 |
Provides comprehensive trust accounting, compliance monitoring, and client reporting for institutional trust administrators.
Delivers specialized trust and agency accounting with robust reconciliation and regulatory reporting features.
Offers cloud-native trust administration for complex structures, investor servicing, and global compliance.
Multi-asset portfolio accounting and management system supporting trust operations and middle-office functions.
Unified data aggregation and analytics platform for wealth managers handling diverse trust portfolios.
Integrated wealth platform with CRM, performance reporting, and billing tailored for trust advisors.
Portfolio accounting, reporting, and trading solution for advisors managing client trusts efficiently.
Advisor workstation for portfolio management, rebalancing, and customized reporting on trust assets.
Investment research and portfolio analysis tool supporting trust performance tracking and client proposals.
Wealth planning platform with householding and goal-based reporting for trust administration oversight.
SEI Trust 3000
enterpriseProvides comprehensive trust accounting, compliance monitoring, and client reporting for institutional trust administrators.
Daily sweep accounting engine that automates position reconciliations across multiple custodians in real-time
SEI Trust 3000 is a comprehensive, enterprise-grade trust administration platform from SEI Investments, designed specifically for institutional trust providers managing complex portfolios. It delivers automated daily accounting, compliance monitoring, advanced tax reporting, and client relationship management tools to streamline operations. The software integrates seamlessly with multiple custodians and supports high-volume trust processing with real-time data accuracy and regulatory adherence.
Pros
- Unmatched scalability for high-volume trust operations
- Robust integration with custodians and third-party systems
- Advanced compliance and tax automation reducing manual errors
Cons
- Steep learning curve and lengthy implementation
- Premium pricing inaccessible to smaller firms
- Customization requires vendor involvement
Best For
Large trust companies and wealth managers handling billions in assets under administration with complex regulatory needs.
Pricing
Custom enterprise pricing based on assets under administration (AUA); typically $500K+ annually for mid-sized institutions.
WealthServ
enterpriseDelivers specialized trust and agency accounting with robust reconciliation and regulatory reporting features.
One-click automated regulatory reporting compliant with SEC, IRS, and state-specific requirements
WealthServ is a robust trust administration software platform tailored for trust companies, wealth managers, and family offices, offering end-to-end automation for trust accounting, compliance, and reporting. It streamlines complex workflows such as beneficiary distributions, tax calculations, and regulatory filings with real-time data synchronization across custodians. The platform also includes secure client portals for enhanced transparency and communication.
Pros
- Comprehensive compliance and regulatory reporting tools that automate complex filings
- Seamless integrations with major custodians and accounting systems
- Advanced trust accounting with householding and multi-entity support
Cons
- Steeper learning curve for users new to advanced trust software
- Pricing is quote-based and may be higher for smaller firms
- Limited native mobile app; primarily web-based
Best For
Mid-to-large trust administrators and family offices managing complex, high-value trusts requiring stringent compliance and detailed reporting.
Pricing
Custom quote-based pricing; typically starts at $5,000/month for enterprise plans, scales with users and assets under administration.
TrustQuay
specializedOffers cloud-native trust administration for complex structures, investor servicing, and global compliance.
Unified platform for seamless administration of trusts, foundations, and companies with built-in global regulatory compliance engines
TrustQuay is a cloud-based SaaS platform specializing in trust, foundation, and corporate administration for wealth managers, family offices, and trust companies. It streamlines complex workflows with automated accounting, compliance reporting, document management via a secure digital vault, and client portals. The software supports multi-jurisdictional operations, reducing manual processes and enhancing regulatory adherence.
Pros
- Comprehensive automation for trust accounting and workflows
- Robust multi-jurisdictional compliance and reporting tools
- Secure digital vault and intuitive client portal
Cons
- Enterprise-level pricing may be steep for smaller firms
- Initial setup and data migration can be time-intensive
- Customization requires professional services
Best For
Mid-to-large trust companies and family offices managing complex, international trust and foundation structures.
Pricing
Custom quote-based pricing starting around $10,000+ annually, scaled by users, assets under administration, and modules.
SS&C Geneva
enterpriseMulti-asset portfolio accounting and management system supporting trust operations and middle-office functions.
Patented Global Accounting Engine for real-time, multi-currency transaction processing across diverse asset classes
SS&C Geneva is a robust, enterprise-grade portfolio accounting and administration platform tailored for trust administrators, asset managers, and financial institutions. It delivers multi-asset, multi-currency accounting, real-time position management, performance measurement, and comprehensive reporting for complex trust portfolios. The software supports regulatory compliance, tax reporting, and seamless integration with trading and custodian systems, making it ideal for high-volume operations.
Pros
- Scalable architecture handles massive portfolios and complex instruments
- Advanced real-time processing and multi-currency support
- Extensive compliance, tax, and investor reporting capabilities
Cons
- Steep learning curve and lengthy implementation process
- High upfront and ongoing costs
- Interface feels dated compared to cloud-native alternatives
Best For
Large-scale trust administrators and financial institutions managing enterprise-level, multi-asset trust portfolios with stringent compliance needs.
Pricing
Custom enterprise pricing; typically starts at $500K+ annually for licensing and implementation, plus ongoing support fees.
Addepar
enterpriseUnified data aggregation and analytics platform for wealth managers handling diverse trust portfolios.
Market-leading data aggregation engine that creates a unified view of trust holdings across disparate custodians and asset classes
Addepar is a powerful wealth management platform designed for portfolio accounting, reporting, and analytics, particularly suited for complex structures like trusts in family offices and RIAs. It aggregates data from over 1,000 custodians and sources, normalizes it for accuracy, and delivers customizable reports on performance, tax, and risk. While excelling in investment analytics, it requires integrations for full fiduciary trust administration tasks like principal-income allocation.
Pros
- Superior data aggregation and normalization from thousands of sources
- Advanced customizable reporting and performance analytics for trusts
- Scalable for multi-entity family office structures
Cons
- Steep learning curve and lengthy onboarding process
- Premium pricing limits accessibility for smaller firms
- Not a complete standalone trust accounting solution
Best For
Large family offices and RIAs managing complex, high-value trust portfolios with diverse assets.
Pricing
Custom enterprise pricing, typically $100,000+ annually based on AUM and usage.
Black Diamond Wealth Platform
enterpriseIntegrated wealth platform with CRM, performance reporting, and billing tailored for trust advisors.
Advanced householding and multi-entity aggregation for unified trust views
Black Diamond Wealth Platform by SS&C Technologies is a comprehensive wealth management solution that supports trust administration through advanced portfolio accounting, performance reporting, and compliance tools. It enables trust officers to manage complex assets, generate fiduciary reports, handle tax lot accounting, and automate reconciliations across multiple custodians. While versatile for broader wealth management, its trust-specific features streamline distributions, K-1 generation, and regulatory compliance for institutional users.
Pros
- Extensive reporting and analytics capabilities for fiduciary accounting
- Seamless integrations with custodians and data feeds
- Scalable for high-volume trust operations in large firms
Cons
- Steep learning curve and complex setup process
- High enterprise-level pricing not ideal for smaller trust departments
- Less specialized in niche trust workflows compared to dedicated tools
Best For
Large wealth management firms and trust departments managing complex, high-AUM portfolios with integrated CRM needs.
Pricing
Custom enterprise pricing based on AUM or users; typically starts at $50,000+ annually, requires quote.
Orion Advisor Tech
enterprisePortfolio accounting, reporting, and trading solution for advisors managing client trusts efficiently.
Unified wealth platform that seamlessly blends trust administration with advanced portfolio accounting and real-time performance reporting
Orion Advisor Tech provides a comprehensive wealth management platform with robust trust administration capabilities, enabling efficient handling of trust accounting, compliance, document management, and reporting. It integrates portfolio management, performance analytics, and client portals to streamline workflows for trust officers and advisors. Designed primarily for RIAs and financial institutions, it supports complex trust structures while ensuring regulatory adherence.
Pros
- Exceptional reporting and customizable dashboards for trust performance insights
- Strong integrations with custodians like Schwab and Fidelity
- Scalable architecture handling large volumes of trusts and assets
Cons
- Premium pricing may deter smaller trust departments
- Initial implementation and data migration can be time-intensive
- Less specialized for highly customized or exotic trust types compared to niche providers
Best For
RIAs, family offices, and bank trust departments managing high-net-worth client portfolios with integrated wealth management needs.
Pricing
Custom enterprise pricing based on AUM or users; typically $5-15 per $1M AUM annually, with minimums starting around $10,000/year.
Envestnet Tamarac
enterpriseAdvisor workstation for portfolio management, rebalancing, and customized reporting on trust assets.
Unified household reporting that aggregates trust, advisory, and retirement accounts into customizable, client-ready dashboards
Envestnet Tamarac is a robust portfolio management platform designed for RIAs and wealth managers, offering tools for reporting, rebalancing, billing, and compliance that extend to trust account administration. It integrates advanced analytics, performance measurement, and custodian connectivity to streamline oversight of trust portfolios. While strong in investment management aspects, it supports trust workflows through customizable reporting and household-level aggregation rather than deep native trust accounting.
Pros
- Comprehensive reporting and performance analytics tailored for trusts and portfolios
- Automated rebalancing and trade management with custodian integrations
- Scalable billing and household aggregation for complex trust structures
Cons
- Lacks specialized trust accounting features like principal/income allocation found in dedicated solutions
- Steep learning curve for non-RIA trust administrators
- Asset-based pricing can be costly for smaller trust departments
Best For
RIAs and multi-family offices managing trust portfolios alongside broader wealth management services who prioritize integrated reporting and rebalancing.
Pricing
Asset-based subscription model, typically 20-40 basis points on AUM with tiered discounts for larger assets; minimum fees apply for small accounts.
Morningstar Office
enterpriseInvestment research and portfolio analysis tool supporting trust performance tracking and client proposals.
Proprietary Morningstar Medalist Ratings for forward-looking fund and ETF analysis
Morningstar Office is a comprehensive investment research and portfolio management platform designed for financial advisors, offering tools for portfolio analysis, performance reporting, asset allocation, and compliance monitoring. While it supports trust portfolio oversight through detailed investment data and customizable reports, it is not a dedicated trust administration solution and lacks specialized features like fiduciary accounting, beneficiary management, or automated K-1 tax reporting. It integrates with custodians and provides Morningstar's proprietary ratings and research to aid in trust investment decisions.
Pros
- Extensive investment research and proprietary Morningstar ratings
- Robust portfolio analytics and customizable reporting
- Strong integrations with custodians and trading platforms
Cons
- Limited trust-specific functionality like fiduciary accounting or distribution tracking
- Steep learning curve for non-investment professionals
- High cost relative to specialized trust admin tools
Best For
Investment-focused advisors managing trust portfolios who prioritize market analysis over full fiduciary administration.
Pricing
Subscription-based starting at around $10,000 annually, with premium tiers up to $25,000+ based on users and features.
eMoney Advisor
enterpriseWealth planning platform with householding and goal-based reporting for trust administration oversight.
Dynamic estate planning engine for simulating complex trust scenarios and multi-generational wealth transfer
eMoney Advisor is a comprehensive wealth management platform designed for financial advisors, offering tools for financial planning, account aggregation, and scenario modeling that can support trust-related planning. It includes an estate planning module for modeling trust distributions, beneficiary analysis, and integration of trust assets into broader wealth strategies. While not a dedicated trust administration software, it provides valuable insights for advisors managing trusts within holistic client portfolios.
Pros
- Advanced scenario modeling for trust and estate planning
- Seamless integration with client account aggregation and portals
- Intuitive interface with strong visualization tools
Cons
- Lacks specialized fiduciary accounting and compliance features for trusts
- Enterprise-level pricing may not suit smaller firms
- Limited focus on core trust administration tasks like K-1 generation
Best For
Financial advisors and wealth managers handling high-net-worth clients where trust planning is part of broader financial advisory services.
Pricing
Custom enterprise pricing per advisor or AUM, typically $5,000–$15,000 annually per user with tiered plans.
Conclusion
The top tools reviewed offer diverse strengths, but SEI Trust 3000 emerges as the leading choice for its comprehensive accounting, compliance, and reporting suite, catering to institutional needs. WealthServ and TrustQuay stand out as strong alternatives—WealthServ for specialized trust accounting and administration, TrustQuay for managing complex global trust structures and investor servicing. Together, these platforms highlight the range of solutions available, ensuring tailored support for various trust management scenarios.
To unlock efficient and robust trust administration, beginning with SEI Trust 3000 is a proactive step, as its integrated capabilities set a high standard for performance in the field.
Tools Reviewed
All tools were independently evaluated for this comparison