(PRWeb) - Infinex Financial Group (Infinex), a leading third-party marketing firm and independent broker/dealer, today announced the recent signing of Alerus Financial. Alerus Financial is a $2.2 billion bank headquartered in North Dakota, with branches in North Dakota, Minnesota and Arizona.
Brian Schumacher, Director of Wealth Management at Alerus Financial, said, As we looked to shut down our in-house broker/dealer and partner with an outside firm, it was important to find the right broker/dealer that would fit our firms professional service model. Because Infinex is focused on working with financial institutions, they have a comprehensive understanding of what is important to us and more importantly, whats important to our clients. They also have demonstrated expertise in helping banks transition away from operating an in-house broker/dealer. That was a critical factor in choosing Infinex.
The banks in-house broker/dealer, Alerus Securities Corporation, converted to Infinex in Dec. 2018.
About the partnership, Schumacher added, By leveraging Infinexs human capital and technological resources, we believe we will be able to better serve our clients in a holistic manner and continue to successfully grow our firm and the number of clients we serve.
We looked at a number of broker/dealers during our due diligence process, said Brian Kraft, President of Alerus Securities. We selected Infinex because they were the best fit. Their team and overall business model seem very flexible. Given that we ran our own broker/dealer for so long, and are accustomed to making our own decisions, it is comforting that our new partner will have an open, collaborative approach.
Infinex is thrilled and honored that Alerus selected us as their third-party broker/dealer, said Stephen P. Amarante, President & Chief Executive Officer of Infinex. Our experienced conversion team helped them through a successful transition, and the entire organization is prepared to help grow their program in the years ahead. This is a special opportunity for Infinex to partner with a well-respected bank in a new market. We look forward to delivering our Premier Service Experience as well as building a long, successful partnership.
Financial institutions or advisors interested in learning more about Infinex can contact the Business Development Team at 1-800-218-2827 or visit http://www.infinexgroup.com.
About Infinex Financial Group
In 2018, Infinex celebrated its 25th anniversary as an independent broker/dealer focused on serving the investment, insurance and wealth management needs of financial institutions. Currently, Infinex supports over 230 community-based programs and more than 550 advisors. The firm, headquartered in Meriden, Conn., with offices in Napa, Calif., and Glen Allen, Va., has a unique history of being formed by banks, owned by banks and focused on providing service to financial institutions.
About Alerus Financial Corporation
Alerus Financial Corporation, through its subsidiaries Alerus Financial, N.A. and Alerus Securities Corporation, offers business and consumer banking products and services, residential mortgage financing, wealth management services including trust, brokerage, executive insurance, and asset management, and employer-sponsored retirement plan administration and employer sponsored services including payroll, health savings accounts, flexible spending accounts, health reimbursement arrangements, and COBRA administration. Alerus Financial banking and wealth management offices are located in Grand Forks and Fargo, N.D., the Minneapolis-St. Paul, Minn. metropolitan area, Duluth, Minn., and Scottsdale and Mesa, Ariz. Alerus Retirement and Benefits administration offices are located in St. Paul, Minn., Albert Lea, Minn., East Lansing and Troy, Mich., and Bedford, N.H.
Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of principal.
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