Greenfield Cooperative Bank has ditched its long-time broker-dealer for Raymond James.
The Greenfield, Mass.-based community bank will be looking to Raymond James to help it grow its investment services program, which currently has nearly $100 million in assets under management, according to Raymond James.
"We chose Raymond James as our new partner because it provides its clients with superior research, technology and planning tools," Michael Tucker, president and CEO of Greenfield Cooperative Bank, said in a statement.
The bank's investment services program includes two financial advisors, with one also serving as program manager. The bank had been using MML Investors Services as its third-party broker dealer since the program's inception 13 years ago.
"We are pleased to welcome the professionals at GCB Financial Services to our Financial Institutions Division," John Houston, managing director of the firm's Financial Institutions Division, said in a statement. "Their decision to partner with us is further proof that Raymond James resources and support continue to attract expanding bank investment programs."
The bank says it has been serving the residents of western Massachusetts since 1889.
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