A new white paper from Wealth Advisor, titled Scale or Stagnate: How to Survive the Trust Talent Shortage and Thrive with Modern Software, identifies an urgent challenge facing the trust industry — and highlights Cheetah as a leading force in helping institutions adapt.
According to the report, trust departments nationwide are confronting an unprecedented labor shortage as experienced professionals retire and fewer graduates pursue fiduciary careers. The Bureau of Labor Statistics projects a 15% decline in the financial advisory workforce over the next decade, even as demand for wealth management services rises by 23%. Within the trust sector, 67% of departments report difficulty filling senior roles, and 84% express concern about knowledge transfer as retirements accelerate.
At the same time, Scale or Stagnate points to a historic opportunity. The Great Wealth Transfer, projected at $124 trillion over the next 20 years, is creating extraordinary demand for modern trust capabilities — particularly among younger, digital-first generations who expect seamless, technology-driven service.
To meet this moment, the report outlines a clear path forward: combining modern trust technology with strategic outsourcing. Cheetah, described as a cloud-native platform purpose-built for trust and wealth management, delivers an integrated suite for trust accounting, investment management, analytics, and digital client experience.
Cheetah’s Business Process Outsourcing (BPO) services extend that capability by providing immediate access to trained trust professionals, predictable costs, and scalable operations — all delivered through the same secure technology framework. Case studies in the report document measurable results, including:
- Bath Savings Trust Company achieving a 50% increase in new accounts and 35% lower operational costs in the first year.
- IconTrust surpassing 400 new accounts annually with a 3:1 employee efficiency ratio.
- First State Bank reducing account-opening times from weeks to hours through full platform modernization.
The report concludes that institutions embracing technology and outsourcing “not as cost centers, but as enablers of competitive differentiation and scalable growth,” will be best positioned to thrive in the decade ahead.
