Florida Bar Trust Accounting Solution Program

Services

Corporate Trust, Escrow and Loan Agency Services

Corporate Trust

Bond Trustee

Successor Trustee

Separate Trustee

Registrar

Issuing/Paying Agent

Collateral Agent

Security Agent

Settlement Agent

Fiscal Agent

Disbursing Agent

Escrow Agent

Mergers & Acquisitions

Lease Finance

Project Finance

Capital Raise

Litigation

LC Alternative

Like Kind Exchange

Regulatory

Bankruptcy

Segregated Funds

Loan Agency

Loan Agent

Collateral Agent

Administration Agent

Term Loans

Revolving Credit Lines

Mezzanine Loans

Capital Leasing

Bi-lateral Loans

Club Deals

Broadly Syndicated

IRA and Custodial Services

Alternative Asset Custody

Trade Settlement

Fiduciary

Records Management

Safekeeping of Assets

Traditional, ROTH, SEP, and Roll-Overs

Coverdell Education Savings Account

Fiduciary Services For Investment Partnerships And Family Offices

Partnership Asset Custody

Partner Interest Custody

Monthly Valuation (NAV)

Income Allocations

Unit Purchase Processing

Unit Sale Processing

Accounting-GL Integration

Partnership Accounting

Collect/Distribute Income

Full Accrual System

Church, Non-Profit and Advisory Services

Investment Management

Florida Bar Trust Accounting (IOTA)

As part of The Florida Bar’s (the Bar) ongoing effort to bring solutions to their membership, the Bar identified the requirements of Chapter 5 and the handling of Interest Occurring Trust Accounts (IOTA) as an opportunity in late 2017. The goal of the program is to address the need for a uniform approach to the accounting and reporting requirements of IOTA’s and to enhance the income generated on behalf of these accounts directly benefiting the charitable endeavors of the Florida Bar Foundation. The Bar set out to identify an organization that would collaborate and build a solution with a centralized online custodial platform and qualified investment product for its members.

One critical component of the solution was to engage a proven trust accounting system to serve as the backbone for the program. The Bar selected the FIS AddVantage Trust Accounting platform. Another requirement was to partner with a solution and service-based company that would be able to design a program that delivers a solution to Bar members. The partner that was selected is TMI Trust Company (TMI). TMI has developed the Trust Accounting program that provides access to a solution that allows participating attorneys and their staff to efficiently comply with the IOTA requirements of the State of Florida. The program is designed to enable attorneys and their designated staff to establish IOTA’s online, deposit funds to each account, view reports online and have flexibility on how the funds are disbursed. The deposits placed into the investment program will not only be covered by FDIC insurance, but also earn significantly more interest that will benefit the Florida Bar Foundation.

Participating attorney and firms may login here.