Raymond James Financial Institutions Division Welcomes $750 Million Investment Program in Sioux Falls, South Dakota
ST. PETERSBURG, Fla. – Raymond James Financial Institutions Division (FID) continues its strategic growth with the addition of Great Western Investments & Insurance, the investment program affiliated with Great Western Bank in Sioux Falls, South Dakota, according to Tim Killgoar, senior vice president and head of FID.
The advisors at Great Western, who were previously affiliated with Cetera, will now offer investment and wealth management services to their clients through Raymond James Financial Services, Inc., member FINRA/SIPC. Through this partnership, FID welcomes 17 financial advisors, who collectively manage approximately $750 million in client assets, and eight support staff members.
“Raymond James was by far the best broker/dealer platform we reviewed,” said Joe Heffernan, president of Great Western Bank Wealth Management. “Their strong and recognizable brand, commitment to technology, assistance in recruiting and robust compliance support stood out among other platforms.”
“It’s a pleasure to welcome the advisors and professionals at Great Western to our Financial Institutions Division,” said Killgoar. “We’re proud they recognized the value that our firm and full-service platform will bring as they broaden their wealth management offerings to clients and continue to recruit talented financial advisors. We look forward to providing the powerful service and support they can expect from Raymond James.”
In 2016, Great Western Bank acquired Home Federal Bank, a previous FID client that was also headquartered in Sioux Falls. Great Western Bank had $11.5 billion in total assets and $9.0 billion in deposits as of June 30, 2017, and operates more than 170 branches across nine states.
About Raymond James Financial Services
Raymond James Financial Services, Inc. is a financial services firm supporting more than 3,700 independent financial advisors nationwide. Since 1974, Raymond James Financial Services, Inc., member FINRA/SIPC, has provided a wide range of investment and wealth planning related services through its affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both broker/dealers are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF), a leading diversified financial services company with approximately 7,300 financial advisors in 3,000 locations throughout the United States, Canada and overseas. Total client assets are $664 billion.
About the Financial Institutions Division
The Financial Institutions Division was established by Raymond James in 1987 to provide banks and credit unions with an alternative to traditional third-party investment providers. Raymond James provides full-service securities brokerage and advisory services to financial institutions seeking to compete with the largest banks and securities firms in the country. In addition to a full complement of investment products and services, Raymond James has the ability to deliver investment banking, public finance, research, self-clearing capabilities and wealth management services to both individuals and institutions.
About Great Western Bancorp, Inc.
Great Western Bancorp, Inc. is the holding company for Great Western Bank, a full-service regional bank focused on relationship-based business and agribusiness banking. Great Western Bank offers small and mid-sized businesses a focused suite of financial products and a range of deposit and loan products to retail customers through several channels, including the branch network, online banking system, mobile banking applications and customer care centers. The bank services its customers through more than 170 branches in nine states: Arizona, Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota. To learn more about Great Western Bank visit www.greatwesternbank.com.