So far this year, at least eight banks and credit unions switched their investment services programs to new third-party broker dealers, based on announcements from TPM firms. One enlisted the services of a TPM for the first time to launch its program. All nine institutions are listed here.
MARION COUNTY BANK
Previous provider: IBA Securities
No. of advisers: 3
AUM: $150 million
Headquarters: Pella, Iowa
Marion County Bank switches to new broker-dealer
Marion County Bank has moved its investment and wealth management program to Raymond James after a 20-year run with another broker-dealer, Raymond James announced on Monday.
Marion's investment division employs three advisors who collectively manage approximately $150 million in client assets, according to Raymond James. It also employs two sales assistants…
See full story: Marion County Bank switches to new broker-dealer