ING's Primevest points to strong results in 2007

FWR Staff

10 January 2008

Institutional investment-sales platform provider hauls in community banks. PrimeVest Financial Services an affiliate of independent broker-dealer ING Advisors Network says it had a good 2007. Among institutions that signed on to receive its broker-dealers services last year were Lehigh Valley, Pa.-based Keystone Nazareth Bank & Trust, Lititz, Pa.-based Susquehanna Bank and New Orleans-based Whitney Bank.

Renewals

St. Cloud, Minn.-based PrimeVest also saw Los Angeles-based Cathay Bank return to the fold in 2007.

"Time and time again we hear that our commitment to technology for ease of business, personalized service, and exclusive focus on financial institutions makes PrimeVest a logical choice to be the third-party marketer for top investment programs," says PrimeVest's president Catherine Bonneau. "Our goal is to make it easier for financial institutions to do business -- and the voice of our clients, especially exhibited by their renewals of multi-year contracts, demonstrates our success."

PrimeVest retained many key relationships last year. It signed multiple-year extensions with The Dalles, Ore.-based Columbia River Bank, Dallas-based Guaranty Bank and Portland, Maine-based TD Banknorth.

PrimeVest is a self-clearing broker-dealer and RIA that works with about 600 financial institutions in all 50 states in the U.S. It is a subsidiary, through ING USA, of ING Group, a Dutch insurance and banking conglomerate. -FWR

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