Parallel Advisors, LLC, a $10 billion independent wealth management firm, has received approval from the California Department of Financial Protection and Innovation (DFPI) for a California Chartered Trust License, paving the way for the launch of Parallel Trust Company of California (PTCOCA). The new entity will provide a full suite of trust and fiduciary services, ranging from estate planning to asset management, for individuals, families, and businesses across the state. 

“Having our own independent trust company unlocks immense potential and is another step toward Parallel Advisors’ comprehensive platform approach, delivering an exceptional suite of services to clients with the highest levels of fiduciary care and expertise,” said C.J. Rendic, CEO of Parallel Advisors. 

The charter empowers PTCOCA to act in multiple fiduciary capacities, including as trustee, executor, and estate administrator. Heather Katzenstein, the firm’s Trust Services Director, will lead the initiative, emphasizing a tailored and client-first approach. “Our trust services are designed to provide clients with security, continuity, and expert management of their assets,” Katzenstein noted. “As an independent trust company, we can focus exclusively on providing high levels of service tailored to our clients’ specific needs.” 

PTCOCA officially began offering services on September 22, 2025, marking a major step in Parallel’s evolution into a comprehensive wealth platform. The firm is headquartered in San Francisco with offices in Dallas, Dayton, Denver, Durango, Durham, Honolulu, Reno, and Scottsdale.