Weekly Market Intelligence - November 22, 2025: November 2025:The Month Trust Services Changed Forever

Written By Frédéric Sanz

What Happened This Week

Between November 15-22, 2025, three simultaneous forces converged to fundamentally restructure the trust and fiduciary services sector:

1. PE-Driven Consolidation at Premium Valuations

GTCR acquired Fiduciary Trust Company ($34B AUM, 98% client retention) while Edward Jones Canada executed its first-ever acquisition. The message: PE firms will pay premium multiples—but only for operational excellence.

2. Regulatory Enforcement Exposes Industry Vulnerability

TMF Group's £130K fine for AML failures demonstrates that even global leaders face compliance risk.

3. Technology Investment Becomes Mandatory

UK Companies House identity verification requirements force £3.5M technology investment over 36 months—creating an unbridgeable gap for mid-tier firms.

Read our Weekly Market Intelligence Report here.

Frédéric Sanz

With over 20 years of elite financial expertise in Switzerland, I specialize in managing UHNWIs assets, leading high-performing teams, and driving innovation in wealth management. As a TEP, MSc., MAS, and Executive MBA with AI diplomas from MIT and Kellogg, I combine deep technical knowledge with strategic leadership for business growth.

A blockchain specialist, I deliver exceptional revenue growth while elevating client satisfaction. Fluent in Spanish, French, Italian, and English, I offer a global perspective, blending advanced AI-driven strategies with traditional wealth management.

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Weekly Market Intelligence - Nov 15, 2025:The Strategic Inflection Point