JUNE 5, 2017 - VOL. 52 No. 9

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Equity Trust Company finds a home in Sioux Falls

Jared Greenfield enjoys the view from the employee break area in the newly renovated offices of Equity Trust Company. The company has leased the second floor of the Equity Square building at the corner of 8th Street and Phillips Avenue.

Equity Trust Company has been quietly building its business in Sioux Falls for the past six years and their brand got a major boost this spring when they became the anchor tenant of the newly renovated and renamed Equity Square building on the southeast corner of 8th Street and Phillips Avenue.

A public trust company headquartered in Westlake, Ohio, Equity Trust is focused on enabling self-directed IRA investors to diversify their retirement plans through alternative asset classes. They serve more than 300,000 clients in 50 states. President Mike Dea said the company was attracted to South Dakota for its favorable business climate, economic stability and the availability of qualified talent in the Sioux Falls market.

The company has been located at the Zeal Center for Entrepreneurship since 2011 and has been searching for a more permanent space since 2014. Senior Manager Jared Greenfield leads the Sioux Falls operations. He said that Equity Trust has benefited from the resources provided and connections facilitated through Zeal. The company worked closely with the Governor's Office of Economic Development while searching for a new facility. The proximity and direct access through Zeal simplified that process for them.

"Working at Zeal gave us the time to carefully select where we wanted to be, as opposed to being forced to move quickly and settle for something that wasn't quite right," Greenfield said.

Equity Trust leased the entire second floor of the four-story building that formerly housed DM&E. They have approximately 12,000 square feet of finished space, with another 10,000 square feet of unfinished space available for future growth.

The workspace includes an open concept floor plan, with ample windows that let in natural light and provide some stunning vistas. The artwork filling the walls is part of the private collection of Equity Trust Company founder Richard Desich. Greenfield stated that the company was purposeful in trying to create an attractive and functional environment where employees want to work. "You can't beat the view of the river from our café area or the view of the Cathedral from our board room," said Greenfield. "Our employees definitely have a sense of pride about our new space."

Equity Trust currently employs 15 people, with several more starting in the coming weeks. The employees focus on the areas of Audit, Compliance and Client Services and providing support for the company nationwide.

According to Greenfield, supporting the Sioux Falls community as a whole is an important priority for Equity Trust. "Giving is a big part of life in Sioux Falls and Equity Trust Company has embraced that culture," he said. "We have been fortunate to partner with great organizations like Children's Home Society, Make-A-Wish Foundation and Feeding South Dakota. Our employees really enjoy giving back to the community and I am so happy to be part of an organization that encourages and supports those efforts." 

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