Landmark Bank has switched its investment services program to Raymond James Financial Services after more than 18 years with a rival broker-dealer, Raymond James announced on Monday.
The community bank noted that Raymond James' wide range of financial services and resources fit well with the bank's customer-focused "here for you" banking strategy, which aims to help customers through experienced advice. The bank's investment program had previously been with Cetera.
Landmark Investments employs eight financial advisors who collectively manage about $450 million in client assets and produce about $2.6 million in annual revenue, according to Raymond James. Fours are located in Missouri, two in Oklahoma and two in Texas. The team is led by Douglas Moore, an executive vice president and director of wealth management.
Through Raymond James, the advisors will offer access to financial planning, investment advisory service and life and health insurance.
"We are delighted to welcome the advisors at Landmark Investments," John Houston, managing director of the Financial Institutions Division of Raymond James, said in a statement. "Their 'here for you' strategy is totally aligned with our firm's client-first focus. Our track record of helping our affiliated investment programs expand their services and diversity their offerings—particularly with fee-based over commissionable investment—was important to Landmark."
Landmark Bank has $2.2 billion in assets and 42 locations in 28 communities across Texas, Oklahoma and Missouri.
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