Greenwich-based Fieldpoint Private has launched a full-service trust company, Fieldpoint Private Trust. The bank said in a statement that the new company was formed in response to “widespread demand from clients, advisors, bankers and others.”

The firm said the new company, which is chartered in South Dakota, offers both delegated and directed trusts, an open architecture approach to custody, and full-service administration on distributions, reporting, tax and trust accounting. Fieldpoint Private Trust said it considers South Dakota to be the strongest trust situs (location) in the U.S.

“People are looking for a new kind of trust company where investment advice is independent rather than self-serving, and where wealth advisors and their long-term trusted client relationships are placed at the center,” Tim Tully, Fieldpoint Private’s executive chairman, said in the statement. “It’s also vital for an effective trust company to be domiciled in a location that empowers clients to benefit from the most progressive and advantageous trust laws. This is what we have built.”

Fieldpoint Private Trust will be led by its president, Nicholas Bertha, and a team of executives and administrative professionals with trust and wealth advisory experience, the statement said.

“Our philosophy is based on a deep respect for clients’ important relationships with their wealth advisors, the people who best understand their objectives and provide sustained, valuable advice over time,” Bertha said in the statement.

The company is partnering with South Dakota Trust Co., a trust administration platform with $100 billion in trust assets. A dedicated team will provide operations and back-office functions for the trust company.

“We started with a blank canvas and wanted to create something new and special that would combine independent trust administration with real scale, always true to our philosophy of client and advisor-centric relationships,” H. Russell Holland, president and CEO of Fieldpoint Private’s banking unit, said in the statement. “This is it, and the feedback thus far is telling us we are on to something.”