PrimeVest adds 12 financial institutions formerly with Fiserv

December 1, 2005 St. Cloud, MN Share: Print Subscribe to Email Alerts

PrimeVest Financial Services, one of the United States’ largest broker-dealers exclusively serving financial institutions, announced today the addition of 12 financial institutions formerly served by Fiserv Investor Services, which recently exited the business. PrimeVest will serve as the broker-dealer for these institutions, helping them meet the investment and insurance needs of their clients.

PrimeVest President and CEO Randy Ciccati said that these financial institutions recognized PrimeVest’s dedication to this market and ability to customize a program that best meets the needs of their organization and their customers. “This is exciting not just for PrimeVest, but also for each of these financial institutions,” said Ciccati. “These organizations recognized that everything we do is with the financial institution in mind. Our dedication to this market, self-clearing platform and capabilities, financial institution advisor workstation, and our focus on high-quality service will help make it easier for our new clients to succeed.”

The newly-signed financial institutions are: The Security National Bank - Sioux City, Iowa; Security National Bank of South Dakota – Dakota Dunes, S.D.; The First National Bank of Akron – Akron, Iowa; First State Bank of Mapleton – Mapleton, Iowa; Northwestern State Bank of Orange City – Orange City, Iowa; Security State Bank of Sheldon – Sheldon, Iowa; First Market Bank – Richmond, Va.; Resource Bank – DeKalb, Ill.; Peoples National Bank of McLeansboro – Fairfield, Ill.; State National Bank – Lubbock, Texas; The First Liberty National Bank - Liberty, Texas; and Security Service Federal Credit Union – San Antonio, Texas.

“We recognized the need for a broker-dealer that could make it easier for our investment representatives to do business,” said Resource Bank’s Paul Neumann. “We also needed an ally that was up to date on compliance issues. We were impressed by the PrimeVest compliance department’s knowledge and plans to deal with impending regulatory challenges. We were also excited about the technology available through PrimeVest, as well as their self-clearing capabilities.”
In all, 64 investment executives and 21 insurance licensed branch employees in six different states joined PrimeVest.

Press inquiries

Philip Margolis, 860-723-4783, phil.margolis@us.ing.com

About PrimeVest

PrimeVest Financial Services is a self-clearing broker-dealer serving the clients of over 500 financial institutions in 50 states and Guam. PrimeVest delivers innovative investment and insurance solutions, comprehensive support and a flexible program structure. PrimeVest is one of the broker-dealers of ING, one of the world’s largest financial services organizations. PrimeVest is a shareholder of the Chicago Stock Exchange and a member of the Depository Trust and Clearing Corporation (DTCC) and the Securities Investors Protection Corporation (SIPC).

Securities and insurance products offered by PrimeVest are: Not FDIC/NCUSIF insured; may go down in value; not financial institution guaranteed; not a deposit; and not insured by any federal government agency.

About ING

ING is a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of over 113,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.

In the U.S., the ING family of companies offer a comprehensive array of financial services to retail and institutional clients which include life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits, financial planning, and reinsurance. ING holds top-tier rankings in key U.S. markets and serves over 14 million customers across the nation. For more information, visit www.ing.com