Reliance Financial Corporation, the Atlanta-based wealth management firm, has received approval for a Delaware charter for its limited purpose trust unit, Reliance Trust Company of Delaware.

The decision allows Reliance Trust to expand its suite of products and services to more potential wealth management clients in the region. Delaware is often referred to as a duty-free zone between New York and Washington because of its tax-free status, making it highly attractive to investors and businesses. The new office is located at the Bellevue Parkway building in Wilmington.

"Delaware provides Reliance Trust with a range of legal and business advantages that facilitate trust and financial planning strategies for wealthy individuals, families and closely-held business owners. It is a trust-friendly jurisdiction," said Michael Roberts, executive vice president of Reliance Trust and president of Reliance Trust Company of Delaware.

Reliance Trust has some $86 billion in assets under management and administration.