Bank, credit union programs that TPMs snagged

Published
  • June 14 2017, 3:28pm EDT
The number of banks and credit unions associated with TPMs has been flat for the past several years, hovering in the neighborhood of 2,900, according to data from Kehrer Bielan Research and Consulting.

While the number of institutions has been static, their brokerage and wealth management programs are often in play. So far this year, at least 9 banks switched their investment services programs to new third-party broker dealers, based on announcements from TPM firms. One outsourced its broker-dealer operations for the first time.

All 10 institutions are listed here.

More on TPMs:

The number of banks and credit unions associated with TPMs has been flat for the past several years, hovering in the neighborhood of 2,900, according to data from Kehrer Bielan Research and Consulting.

While the number of institutions has been static, their brokerage and wealth management programs are often in play. So far this year, at least 9 banks switched their investment services programs to new third-party broker dealers, based on announcements from TPM firms. One outsourced its broker-dealer operations for the first time.

All 10 institutions are listed here.

More on TPMs:

FIRST INTERSTATE BANK

TPM selected: LPL Financial
Previous provider: Cetera
No. of advisers: 40
AUM: $810 million
Headquarters: Billings, Montana

Read full story here: First Interstate Bank switches wealth management program to LPL

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BELL BANK

TPM selected: LPL Financial
Previous providers: Cetera
No. of advisers: 12
AUM: $780 million
Headquarters: Fargo, North Dakota

Read full story here: LPL snatches Bell Bank from Cetera

PROSPERITY BANK

TPM selected: Raymond James
Previous provider: Cetera
No. of advisers: 9
AUM: $600 million
Headquarters: Houston, Texas

Read full story here: Prosperity Bank moves $600M program to Raymond James

FIRST HAWAIIAN BANK

TPM selected: Raymond James
Previous provider: BancWest Investment Services
No. of advisers: 25
AUM: not disclosed
Headquarters: Honolulu, Hawaii

Content Continues Below

LOS ALAMOS NATIONAL BANK

TPM Selected: Cetera
Previous provider: LPL Financial
No. of advisers: 6
AUM: $85 million
Headquarters: Los Alamos, New Mexico

Read full story: Los Alamos National Bank signs with Cetera

CITIZENS BANK AND TRUST

TPM selected: INVEST Financial
Previous provider: Infinex
No. of advisers: 1
AUM: not disclosed
Headquarters: Guntersville, Alabama

WATERSTONE BANK

TPM selected: INVEST Financial
Previous provider: LPL Financial
No. of advisers: 2
AUM: not disclosed
Headquarters: Wauwatosa, Wisconsin

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SECURITY BANK OF KANSAS CITY

TPM selected: INVEST Financial
Previous provider: N/A, outsourced program for first time
No. of advisers: 10
AUM: not disclosed
Headquarters: Kansas City, Kansas

ATHENS FEDERAL COMMUNITY BANK

TPM selected: Raymond James
Previous provider: INVEST Financial and Pershing
No. of advisers: 2
AUM: $141 million
Headquarters: Athens, Tennessee

Read full story here: Raymond James snatches 2 bank programs from Invest

ANDROSCOGGIN BANK

TPM selected: Raymond James
Previous provider: INVEST Financial and Pershing
No. of advisers: 2
AUM: $60 million
Headquarters: Lewiston, Maine

Read full story here: Raymond James snatches 2 bank programs from Invest