Osaic Announces Partnership with Iowa State Bank

Osaic and 80-year-old, $450 million Community Bank to offer financial services to bank's clients throughout Des Moines.

PHOENIX, Jan. 7, 2025 /PRNewswire/ -- Osaic, Inc. ("Osaic"), one of the nation's largest providers of wealth management solutions, today announced the expansion of its institutional channel through a new partnership with Iowa State Bank. Iowa State Bank is one of the oldest and most trusted banks in Iowa and oversees $450 million in assets across five banking locations. ISB Investment Services, Iowa State Bank's investment services division, has $70 million under management and will be converting to the Osaic Institutions platform. Osaic Institutions specifically focuses on banks and credit unions under Osaic. Iowa State Bank joins the firm from Sorrento Pacific Financial.

"We are excited to welcome Iowa State Bank to Osaic Institutions," said Stephen Amarante, Executive Leader, Osaic Institutions. "We are honored their team chose to partner with us. Our financial institution resources like our recruiting team and our business planning and practice management services will help their program thrive."

The partnership with Osaic comes as the bank embarks on a strategy to make financial services a key part of their product offering, expanding its full-time advisors as well as assets under management. Iowa State Bank will leverage Osaic's extensive resources for financial professionals in areas including technology, recruiting, relationship management and lead generation, among other services.

"We looked at several firms out there" said Karen Serangeli, VP of Iowa State Bank and Program Manager ISB Investment Services. "Osaic Institution's technology, which was built from scratch based on the needs of financial institution advisors and program managers, was the key driver in our decision. Their longstanding relationship with Pershing was another factor in their favor. We are excited to use these tools in helping our clients achieve their goals."

Osaic works with more than 230 institutions of all sizes across the country, with the mission to develop a successful wealth management program that aligns with institutions' goals by leveraging the firm's capital, scale, and resources specifically tailored for banks and credit unions.

About Osaic Institutions
Osaic Institutions, Inc., a subsidiary of Osaic Holdings, Inc., is focused on the institution channel. Osaic Institutions' mission is to support the strategic role that banks and credit union investment programs can play in the lives of their clients and members. Cultivating a spirit of community and partnership, Osaic Institutions champions the enduring value of financial institutions, investment programs, and financial professionals. For more information, visit www.osaic.com/institutions.

About Osaic
Osaic, Inc. ("Osaic"), a portfolio company of Reverence Capital Partners, is one of the nation's largest providers of wealth management solutions, supporting approximately 11,000 financial professionals. Osaic's mission is to empower entrepreneurial advisors to build thriving businesses and fulfill their clients' dreams. Visit www.osaic.com to learn more.

Securities and investment advisory services are offered through the firms: Osaic Wealth, Inc., Osaic Institutions, Inc., Osaic FA, Inc., and Osaic FS, Inc. broker-dealers, registered investment advisers, and members of FINRA and SIPC. Securities are offered through Osaic Services, Inc. and Ladenburg Thalmann & Co., broker-dealers and members of FINRA and SIPC. Advisory services are offered through Ladenburg Thalmann Asset Management, Inc., and Osaic Advisory Services, LLC., registered investment advisers. Advisory programs offered by Osaic Wealth, Inc. are sponsored by VISION2020 Wealth Management Corp., an affiliated registered investment adviser.

Media Inquiries
Prosek Partners for Osaic
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646-818-9038

SOURCE Osaic