Exciting New Wealth Management Partnership for Raymond James
New Partnership Announced Between Raymond James and FNBS
St. Petersburg, Fla. – Raymond James (NYSE: RJF) has recently celebrated a strategic partnership with First National Bank of Sparta (FNBS), appointing the bank’s Financial Institutions Division (FID) as a key player in their investment program. This collaboration marks a significant step for both organizations as they look to enhance the financial services available to clients throughout southern Illinois.
Patton Wealth Management Joins Forces
At the heart of this collaboration is Patton Wealth Management (PWM), a financial advisory firm that manages around $261 million in client assets. Leading PWM is Brian Patton, a seasoned financial advisor with over three decades in the financial services sector. Supported by colleagues Pam Burns and Becky Ohms, PWM is dedicated to providing valuable insights and personalized services to its clients.
Commitment to Client-Centric Values
Jon DeMayo, vice president of business development at FID, expressed excitement about this new alliance. “FNBS and PWM have shown a strong commitment to their clients by consistently delivering trusted advice,” he highlighted. The resources and technology afforded by Raymond James are set to empower PWM in their mission to serve high-net-worth individuals and business owners effectively.
Brian Patton's Experience and Vision
Brian Patton brings a wealth of experience to PWM, having launched the firm in 2017 after an extensive career beginning at The Heitner Corporation. His journey through various esteemed financial institutions has provided him with the acumen necessary to guide clients towards their financial goals with confidence.
Transition to Raymond James: A Strategic Move
David Sternberg, president of FNBS, spoke about the motivation behind this transition. He emphasized that the choice was driven by a mutual cultural alignment and a shared focus on client-first values. By choosing Raymond James, FNBS aims to nurture the independence and resources required to further expand PWM’s client offerings while maintaining the personalized boutique experience their clients expect.
About the Financial Institutions Division
The Financial Institutions Division of Raymond James has been in operation since 1987, serving as an alternative to conventional investment providers for banks and credit unions. It offers a comprehensive range of securities brokerage and advisory services, enabling financial institutions to effectively compete in the investment landscape.
Comprehensive Support for Financial Advisors
Raymond James Financial Services, Inc. (RJFS) strives to empower independent financial advisors across the nation. Since its inception, the firm has provided an arsenal of investment products and strategies to help advisors meet client needs effectively. The total client assets managed are approximately $1.69 trillion, showcasing the scale and impact of their operations.
Legacy of First National Bank of Sparta
First National Bank of Sparta has been a cornerstone in the community, providing banking services for over 140 years. With a focus on helping families achieve their financial objectives, FNBS continues to be one of the most trusted names in the local banking landscape.
Investment Advisory and Client Assurance
Both Raymond James Financial Services and FNBS emphasize the importance of client confidence. While investment services are offered through Raymond James, it’s crucial to understand these securities are not insured by bank insurance or guaranteed by the bank itself. They come with risks that clients should be aware of, including potential losses.
Frequently Asked Questions
What is the significance of the partnership between Raymond James and FNBS?
This partnership enhances wealth management services available to clients in southern Illinois, helping them achieve greater financial success.
Who leads Patton Wealth Management?
Brian Patton, a veteran financial advisor with extensive experience in the industry, leads PWM.
How does this collaboration benefit clients?
The partnership provides clients with a robust set of resources and advanced technology, allowing PWM to offer tailored financial advice and strategies.
What does the Financial Institutions Division do?
The Financial Institutions Division supports banks and credit unions by providing alternative investment services, allowing them to compete effectively in the market.
Are the investments through Raymond James insured?
No, investments offered through Raymond James are not insured by FDIC or any other government agency, and they carry risks including the potential loss of principal.
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