Raymond James today announced that it’s adding a team of eight advisors and three branch professionals who manage about $645 million in client assets to its division partnering with banks and credit unions.
Independent Bank, a Michigan-based holding company with total assets of about $5.6 billion, has selected Raymond James’s Financial Institutions Division to handle its financial planning and advisory program, IB Wealth Management, according to a Raymond James press release.
IB Wealth, based in Grand Rapids, will provide its clients with investment and wealth management services through Raymond James Financial Services. The program was previously affiliated with Cetera Investment Services. It will formally affiliate with Raymond James on September 18th.
“We’re pleased to welcome the team … and equip its advisors with the breadth of resources, technology and investment capabilities available through Raymond James,” said Jon DeMayo, vice president of business development at the Financial Institutions Division, in a statement. “Together, these capabilities will help the team deliver comprehensive advice and address the increasingly complex needs of its clients.”
Gavin A. Mohr, chief financial officer of Independent Bank, added that the expanded investment platform and comprehensive wealth management resources “will help us serve individuals and families across a broad range of financial goals, including the complex planning requirements of high-net-worth clients, while preserving the personal service and trusted relationships our clients expect.”