Truist Advisory Services

Truist Advisory Services is a large SEC‑registered investment adviser and wholly owned subsidiary of Truist Financial, operating with roughly 2,455 advisors and reporting about $67.7 billion in assets in its AMC programs. It provides a range of services to individuals (including high‑net‑worth clients), corporations, retirement plan sponsors and participants, and charitable organizations, including investment consulting, plan sponsor and participant services, and the AMC Advantage manager‑of‑managers program (the Program is currently closed to new clients except by exception).

The firm offers both discretionary and non‑discretionary solutions that combine firm‑level model portfolios, third‑party managers, and advisor‑led asset allocation and fund monitoring; it relies on third‑party platforms (Envestnet and Envestnet Retirement Solutions) and ERS‑provided investment policy statements for plan governance and due diligence. TAS’s Investment Advisory Group produces research that is shared across TAS, Truist Bank and affiliated broker‑dealer channels, and advisors may recommend ERS 3(21) services or ERS 3(38) discretionary management depending on plan sponsor elections.

The brochure discloses several operational features and conflicts that are less common in peers’ summaries, including a firm requirement that most AMC Advantage accounts be maintained at its affiliated broker‑dealer (Truist Investment Services), use of a Truist‑linked sweep program and multibank sweep features that generate affiliate revenue, and detailed advisor compensation and referral arrangements (forgivable loans, production‑based bonuses and referral fees). The firm also reports a history of regulatory matters and self‑disclosures — including multiple SEC orders and monetary sanctions addressing share‑class selection, supervisory and communication issues — and describes related remediation, oversight committees, and supervisory processes.