Which of the following is a financial institution that conducts the same activities as a bank but can also administer estates, pension plans, and agency contracts?

Question

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Trust companies are financial institutions that offer the same services as a bank, but they can also act as trustees and manage estates, pension plans, and agency contracts. Chartered banks and credit unions do not usually provide trust services. A brokerage company is mainly involved in buying and selling securities.

Which of the Following Is a Financial Institution That Conducts