Raymond James and Osaic Announce New Bank Partnerships, Expanding Their Reach in Texas and Ohio.

Raymond James and Osaic have announced new partnerships with regional banks in Texas and Ohio. Raymond James has secured a partnership with Texas Community Bank to support its financial planning and advisory platform, while Osaic has partnered with The Union Bank Co. to transition roughly $127 million in assets under administration from LPL to Osaic's network. These moves will broaden the reach and service offerings for clients in both states.

Raymond James and Osaic have announced strategic partnerships with regional banks in Texas and Ohio, aiming to broaden their service offerings and reach. Raymond James has secured a partnership with Texas Community Bank to support its financial planning and advisory platform, while Osaic has partnered with The Union Bank Co. to transition approximately $127 million in assets under administration from LPL to Osaic's network.

Texas Community Bank Enhances Financial Planning and Advisory Services

Texas Community Bank (TCB) has partnered with Raymond James Financial Institutions Division to enhance its financial planning and advisory services. This collaboration will allow TCB Investments, led by financial advisors Luis J. Gonzalez, III and Carlos M. Chapa, to offer comprehensive investment and wealth management services to clients, managing approximately $605 million in assets [1]. Raymond James will provide TCB with advanced resources and technology tailored to the unique needs of financial institutions. TCB's senior vice president, Oscar Cisneros, expressed excitement about the collaboration, highlighting that it will strengthen their offerings and client service capabilities. This partnership positions TCB to effectively meet the distinctive needs of high-net-worth and ultra-high-net-worth clients, potentially increasing their market competitiveness [1].

The Union Bank Co. Transitions Assets Under Administration

The Union Bank Co. has partnered with Osaic to transition roughly $127 million in assets under administration from LPL to Osaic's network. This move will enable The Union Bank Co. to leverage Osaic's advanced technology and investment platforms to better serve its clients. The partnership aims to broaden the reach and service offerings for clients in Ohio, enhancing the bank's ability to cater to high-net-worth individuals and institutions [1].

Expanding Reach and Service Offerings

These partnerships are part of a broader strategy by Raymond James and Osaic to expand their service offerings and reach in key markets. By aligning with regional banks, these firms aim to provide clients with access to advanced investment and wealth management solutions tailored to their unique needs. These moves underscore the growing importance of partnerships in the financial services industry, particularly in markets with a high concentration of high-net-worth and ultra-high-net-worth clients.

References:

[1] https://www.quiverquant.com/news/Texas+Community+Bank+Partners+with+Raymond+James+to+Enhance+Wealth+Management+Services