A Family Owned Business
Cleveland Private Trust Company (“CPTCO”) is a family-owned and operated business. Our co-founders include some of Cleveland’s savviest families, entrepreneurs, notable investors and philanthropists. From the beginning, CPTCO has differentiated itself with a client-centric approach to wealth management. We have won the trust and confidence of our clients by delivering cogent, transparent solutions with insight and integrity. Our advisory committee includes both seasoned executives in wealth management and the families who are co-founders and partners in the creation of this unique company.
Our Fiduciary Responsibility
At CPTCO we act as a trusted fiduciary to you in all circumstances, which means we have a legal responsibility to put your best interests first. Our investment committee and portfolio managers are fully transparent in regard to their compensation. Broker-Dealers and certain other financial planners do not bear a fiduciary responsibility. They are generally compensated based upon the commissions from the financial products, stocks, and bonds they sell you. Further, they are not legally required to show you the best options available to you, their recommendations must only be considered “suitable.” CPTCO assumes fiduciary responsibility for your wealth to ensure that your best interest is always placed above our own.
In addition to Cleveland Private Trust Company’s local family ownership, Howard Milstein and the Milstein family, through their ownership of Emigrant Bank, are the majority owners of Ohio Wealth Partners, the holding company for Cleveland Private Trust Company. As a highly-successful family with businesses spanning multiple generations, they understand the needs of other wealthy families better than most. Their extensive business network and superior track record of success have been developed over decades.