Zions Bancorp is ramping up its wealth management business with the support of third-party marketing firm PrimeVest Financial Services. PrimeVest will provide the Salt Lake City-based bank with support companywide, PrimeVest announced Tuesday.

PrimeVest will help Zions optimize its existing life insurance business and reintroduce fixed and indexed annuities, which the bank hasn’t offered in several years, Jayson Hron, a spokesperson for PrimeVest, said in an e-mail message. PrimeVest also will conduct due diligence and compliance oversight on Zion’s behalf.

The agreement is unique in that Zions already has its own internal broker-dealer and RIA, Hron said. PrimeVest will work with Zions to complement what that broker-dealer is already offering.

“Given its unique needs, Zions was looking for a provider that could customize an offering to fit with its existing wealth management services. We were able to provide that flexibility, along with the tools and support Zions needed to optimize its overall program,” PrimeVest President and CEO Catherine Bonneau said in a statement.

As part of the agreement, more than 40 Zions financial professionals will participate in specialized PrimeVest training at their home offices throughout the western states in June.

“PrimeVest helps us ensure we are providing insurance the right way. As a result, our advisors can focus on developing effective solutions for their clients’ insurance and wealth management needs,” Julie Castle, chief operating officer of Zions affiliate Contango Capital Advisors, said in a statement.

Zions is the fourth new bank that PrimeVest has signed this year. It operates numerous banking businesses under local management teams and community identities through nearly 500 offices in 10 Western and Southwestern states.

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