Community Bank & Trust of Florida has selected Infinex Financial Group as its new third-party broker-dealer after a 16-year relationship with Invest Financial.

The community bank was looking to take the investment services business to “the next level by offering quality wealth management products,” Hugh Dailey, the bank’s CEO and president, said.

The bank has been offering investment services through Invest Financial, its prior broker-dealer, since 2002. It employs one financial advisor who manages over $50 million in assets under management, according to Infinex.

The bank said it reviewed “just about every investment firm during its due diligence process” and ultimately chose Infinex because of its commitment to financial institutions like theirs. “Their resources are geared towards helping advisors in banks gather more assets and provide better service to their clients,” said David Johnson, senior financial advisor of Florida Community Financial Services, the bank’s investment services business.

Dailey also cited Infinex’s stability as a firm, noting that it has had the same leadership team and ownership structure in place for many years, a quality that he said was very attractive.

The community bank is among at least two other financial institutions that have switched their investment services programs from Invest Financial, a broker-dealer that was bought by LPL last August. In March, Chicago-based Marquette Bank moved its $382 million program to Cetera, while L&N Federal Credit Union of Kentucky switched its $100 million program to LaSalle St. Securities, a small firm based in the western suburbs of Chicago.

Community Bank & Trust of Florida has branches in Belleview, Gainesville, Ocala, Summerfield and The Villages in North Central Florida.