Osaic Partners with $450M Iowa State Bank

Osaic, Inc., announced the expansion of its institutional wealth channel through a new partnership with Iowa State Bank. The partnership 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.

As one of the oldest banks in Iowa, the bank oversees $450 million in assets across five locations. The bank’s investment services division, ISB Investment Services, has $70 million in assets and will be converting to Osaic’s Institutions platform. Iowa State Bank joins the firm from Sorrento Pacific Financial.

Iowa State Bank will leverage Osaic’s resources including technology, recruiting, relationship management and lead generation, among other services.

“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.”

Osaic Institutions, a subsidiary of Osaic Holdings, Inc. specifically focuses on banks and credit unions under Osaic and works with more than 230 institutions.