By Katherine GraysonSTAFF WRITER

Travel Beyond has launched aprogram that helps clients set uptravel-dedicated family trust funds,a move that’s part of the agency’sbroaderpush togrowviaconsultingservices. The Wayzata-based companypartneredwithanattorneyandUBSFinancialServicesInc.’sKochCherneWealthManagementGrouptolaunchthe service, called “Travel Trust.”Clients work with the agency to setupa“Wanderlist”—along-termitin-eraryoftripsclientswantthetrusttofundoverthecomingyears.Thefundcan support a client’s own travel,in addition to trips taken by familymemberswell after the trustownerspassaway. Travel Beyond, which focusesprimarily on international travel todestinations such as Africa andSouth America, decided to launchthe program as part of a strategy tobolsteritsbusinessbybuildinglong-term relationships with clients, saidJimBendt,presidentoftheagency.

“With people being able to booktrips online, things have becomemuchmoretransactional.Wewantedtopositionour companyasmoreofaconsultancythatwouldmirrorotherserviceorganizations,”hesaid,citingfinancialadvisersasanexample. Inadditiontothetrust,theagencywill launch an incentive-travelprogramforsmall-andmedium-sizedbusinesses. Companies establish in-

centive-travel programs as a way torewardstaffmemberswithvacations.TherearemanylargetravelagenciesintheTwinCities,suchasMinnetonka-basedCarlsonCos.Inc.,thathelpbigcompanies set up those programs.However,therearen’tmanyagenciesfocusingonsmallfirms,Bendtsaid. “Minneapolisisthetopmarketinthecountryintermsofincentiveagencies.Allthoselargeagenciestendtofocus

Putting travel in a family trust

“ [Clients] want their kids to be able to support themselves financially... and are thinking about a true gift that wouldn’t be possible without family wealth.” Margaret Cronin Attorney, Grandchamp, Guyette and Cronin

on really large accounts. A marketthat was really being left out wassmall-tomedium-sizedbusinesses.” Travel Beyond will focus oncustomizingforclients;forinstance,a firm could enter any sales personwho generates a new business leadduring the year into a lottery towina trip, rather thanawarding thevacation to the topperforming staffmember. Travel Beyond also will launchtheWanderlist offering as a serviceearly next year. The firm won’timmediately generate revenue viathetrustprogram.Saleswon’tcomeuntil customers actually book trips.Thecompanywilleventuallychargeclientsa$500feeiftheydon’tbookwith Travel Beyond, though it’swavingthatfeefornow,Bendtsaid. The program’s real advantage isthat it will allow the firm to betterconnectwithclients,hesaid.“WiththeTravelTrust,we’llbuildalong-

termrelationshipwiththem.” TravelBeyond’ssaleswereup40percentthisyearcompanycomparedto the previous year, though thecompanydoesn’tdiscloseitsrevenue. TheTravelTrustmodelfitsinwellwiththetypeofgiftmanyclientswanttoleavetheirchildren,saidMargaretCronin,anattorneyatGrandchamp,GuyetteandCroninwhofocusesonhelpingclientswithestateplanning. “A lot of people say the mostmeaningfultimeswe’vehadtogetherisa trip.Theywant theirkids tobeable to support themselves finan-ciallythroughtheirowncareers,andare thinking about a true gift thatwouldn’tbepossiblewithoutfamilywealth,”saidCronin,who’sworkingwith Travel Beyond to help clientssetuptrusts. People who establish a trust cangift $13,000 per year to a benefi-ciary.AspartoftheTravelTrust,thatmoney could go toward a vacation.

Douglas Kottke, vice president,investments at Koch Cherne, saidheexpects theoffering to appeal tocustomers who love travel. “I thinkit’snotgoingtofiteverybody,butforthe individuals who have a passionfor travel, they can build on thatpassionforthenextgeneration.”

Travel Beyond…City: WayzataPresident: Jim BendtBusiness: travel consultancy specializing in luxury tours, safaris and cruisesEmployees: 19Founded: 1975Web: travelBeyond.com

December 10, 2010