Raymond James Financial Institutions Division welcomes new $165 million program with Security Savings Bank
ST. PETERSBURG, Fla. – Raymond James welcomed the wealth advisory team of Security Wealth Management, located at Security Savings Bank, to its Financial Institutions Division (FID) – according to Stephen Kruchten, senior vice president and FID national director. Through this new alignment, the group will offer their clients investment and wealth management services through Raymond James Financial Services, Inc.
Based in Sioux Falls, South Dakota, the group includes financial advisors Jon Gadberry, Brad Jarabek and Sean Powell. They are joined by registered representative Tim Houska and client service manager Joshua Reid. The group manages approximately $165 million in client assets and was previously affiliated with LPL Financial.
"Security Savings Bank has a rich history of over 100 years of dedicated client service. We are confident that through this partnership, the financial advisors and clients of Security Wealth Management will greatly value the extensive investment platform, advanced technology and unwavering commitment to the client-advisor relationship that Raymond James offers," said Jon DeMayo, vice president, business development of the Financial Institutions Division at Raymond James. "We are delighted to have this exceptional team of advisors and professionals join Raymond James FID."
"We are very pleased to partner with the Raymond James Financial Institutions Division. This partnership will enable the bank to provide Raymond James' robust financial planning tools to our clients. These added resources, in conjunction with our shared commitment to customer service, will help our wealth management team continue to meet our clients' financial goals – both now and in the future," said Rodney Bonander, president and CEO of Security Savings Bank.
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 Raymond James Financial Services
Raymond James Financial Services, Inc. (RJFS), member FINRA/SIPC, is a financial services firm supporting independent financial advisors nationwide. Since 1974, RJFS provides a wide range of investment and wealth planning-related services through its affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both firms are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF), one of the nation's premier diversified financial services companies with approximately 8,800 financial advisors throughout the United States, Canada and overseas. Total client assets are approximately $1.48 trillion as of Jun. 30, 2024. Additional information is available at raymondjames.com.
About Security Savings Bank
Founded in 1920, Security Savings Bank offers personal banking, business banking, agricultural banking, and mortgage banking, as well as trust and wealth management services. Security Savings Agency, an affiliate of Security Savings Bank, provides personal, business, and agricultural insurance services. Security Savings Bank is chartered in Canton, South Dakota and maintains eight branch offices in Iowa, Minnesota and South Dakota. Learn more at https://bankwithssb.com/.
Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC, and are not insured by bank insurance, the FDIC or any other government agency, are not deposits or obligations of the bank, are not guaranteed by the bank, and are subject to risks, including the possible loss of principal. Security Wealth Management and Security Savings Bank are not registered broker/dealers and are independent of Raymond James Financial Services. Investment advisory services offered through Raymond James Financial Services Advisors, Inc.