There is an initial one-time set up fee for a private label arrangement with IconTrust. There are no ongoing fees. The initial setup fee is to pay for the legal cost of the “Private Label Services Agreement,” and various other tangible and intangible costs. ICON will set up your company as a division in our trust accounting system to separate your private label accounts from ICON’s traditional book of accounts.
A private label is not a “set it and forget it” proposition. A relationship manager from the partner will work collaboratively with ICON to filter acceptable trust business and create marketing materials about your offering. All marketing materials must be approved by ICON.
The average private-label takes 1-3 months to go to market. A private label partner must be committed to trust services as a core addition to its business and not simply as a novelty. The implementation process can be demanding and a full commitment to be a viable offering.
