In 2014, Trust Management Incorporated was purchased by Reliance Financial Corporation, whose subsidiary Reliance Trust Company’s church and nonprofit services division, was the nation’s largest trustee for church and nonprofit bond issues. The two companies shared similar values that emphasized security, integrity, independence, and a commitment to customer service that exceeded expectations. The two entities combined under the new TMI brand and the resulting company offered the most experienced and knowledgeable leadership and staff in the industry with nearly 100 combined years of experience as a corporate trustee for bond issues.
Also in 2014, Reliance Financial Corporation was acquired by FIS Global. Simultaneously with the completion of the acquisition, TMI Trust Company was spun off and once again became an independent trust company.
In early 2016, TMI began expanding its market scope. Building on its extensive history and experience in corporate trust services, TMI hired expert industry professionals to support its growing, full-service corporate trust and agency services business which now reaches corporate and public finance markets, family offices, IRA holders and administrators, and faith-based bond issuers.
In July 2017, TMI acquired the trustee and custody services portfolio for the Family Office business from BMO Trust and Custody Services. With offices in Milwaukee, WI and Naples, FL, the group provides fiduciary, accounting, and trust tax services for family offices and investment partnerships.
On April 1, 2019 TMI Holdings, Inc. acquired 100% of the stock of Salem Trust Company, a Tampa Florida based trust company specializing in custody services for government retirement plans and institutional clients, in a friendly transaction.
In connection with the acquisition, TMI Trust Company, a wholly owned subsidiary of TMI Holdings, Inc. merged with and into Salem Trust Company. The name of the resulting Florida trust company was changed to TMI Trust Company.
Salem’s existing business will continue under the Salem Trust Company name as a division of TMI Trust Company, preserving its 20-year legacy of providing An Authentic Difference® to custody services used by government retirement plans and institutional clients.