WAUKESHA, Wis. (January 15, 2014) — Prairie Financial Group®, a division of Waukesha State Bank, is pleased to announce the appointment of Victor Schultz to the newly-created position of senior vice president and head of personal trust. This announcement follows steady growth over the last few years and aligns with one of Prairie Financial Group’s strategic initiatives centered on the expansion of its trust and estate settlement services, as well as its advisor friendly alliance.
Schultz will assume the leadership of the team of trust and estate settlement professionals who serve Prairie Financial Group’s customers throughout the United States.
Recently, Schultz played an instrumental role in Wisconsin adopting the Uniform Trust Code (UTC), which was signed into law by Governor Scott Walker on December 13, 2013. The legislation follows a seven-year effort during which Schultz acted as co-chair of the Trust Code Study group charged with drafting the bill. The passage makes Wisconsin the 29th jurisdiction to adopt the UTC, and coincides with the increased use of trusts for estate planning and commercial transactions. The UTC provides a comprehensive codification of the default rules that pertains to trusts. The version adopted in Wisconsin includes some innovative new provisions that are designed to improve upon the UTC.
Schultz earned his juris doctorate from Marquette University Law School and a bachelor of business administration in accounting from the University of Wisconsin-Madison. Prior to joining Prairie Financial Group, Schultz was vice president and U. S. estate planning specialist for BMO Private Bank. Prior to BMO’s acquisition of M&I Bank, Schultz managed the personal trust and not-for-profit services legal department and estate settlement services group at Marshall & Ilsley Trust Company. His extensive experience includes personal trust, fiduciary litigation, estate settlement, not-for-profit fiduciary services, IRAs and retirement planning issues.
“Throughout his career, Victor has demonstrated a passion and commitment to trust and fiduciary services,” said Kristin Reilly, president of Prairie Financial Group. “The establishment of this new position with a person who is intimately familiar with UTC regulatory requirements, and who also has a predisposition for customer service, ensures that we are closely attuned to our clients’ needs and the communities we serve.
“This move places a proven leader into a key role that will enable us to stay on our strategic roadmap and maintain our positive momentum,” continued Reilly. “We are confident that Victor will deliver on our business objectives and create a sustainable value proposition for the customers we serve.”
Waukesha State Bank created Prairie Financial Group® nearly 40 years ago and it has grown to serve clients throughout the United States. Its clients include individuals, businesses, non-profits and academic institutions. Services include: trust and trustee services, retirement services, investment management, estate services, financial planning, enhanced cash management, planned giving and more. Prairie Financial Group® also includes an Advisor Friendly Alliance that works with financial advisors in providing customers seamless trust and qualified plan services that integrate with and enhance their product offerings. For more information on Prairie Financial Group, visit www.PrairieWealth.com.
Waukesha State Bank is one of the largest locally-owned and independent banks in Wisconsin, with full-service offices in Brookfield, Delafield, Mukwonago, Muskego, New Berlin, Oconomowoc, Pewaukee, Sussex and Waukesha. For more information, visit the company’s website at www.WaukeshaBank.com.
