Milford Federal Savings and Loan has selected Infinex Financial Group as its new broker dealer. The Milford, Mass.-based bank was drawn to Infinex’s technology and lead generation process, Infinex announced Tuesday.

An endorsement from the Massachusetts Banker’s Association was also a deciding factor in the company’s decision to switch the program to the new firm. It was formerly with LPL.

Milford Federal’s investment program has $20 million in asset under management and is more than 10 years old. It has one advisor, according to Infinex.

“We’re looking forward to using technology and tools that were designed specifically for bank-based advisors,” Michael DiCicco, vice president of Operations at Milford Federal, said in a statement.

Milford Federal has four branches in Massachusetts and Rhode Island and has $306 million in retail deposits.

“The Infinex team is very excited that Milford Federal Savings and Loan selected us as their broker-dealer partner,” Stephen Amarante, president and CEO of Infinex, said in a statement. “Our focus on financial institutions, recent technology enhancement, high-touch support model, and lead generation process, which includes our C.A.R.E. Referral Training Program, will be invaluable to Milford Federal and their clients.” 

Infinex supports more than 160 community-based financial institutions and more than 450 advisors. It is headquartered in Meriden, Conn., and Glen Allen, Va.

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