Raymond James welcomes new $645 million wealth program with Independent Bank
ST. PETERSBURG, Fla. – Raymond James announced today that Independent Bank has selected its Financial Institutions Division (FID) to enhance the bank’s financial planning and advisory program, IB Wealth Management (IBWM), according to Stephen Kruchten, president of FID. With this new alignment, IBWM will provide clients with investment and wealth management services through Raymond James Financial Services.
Based in Grand Rapids, Michigan, IB Wealth Management includes eight financial advisors and three branch professionals who manage approximately $645 million in client assets. The program was previously affiliated with Cetera Investment Services.
“Independent Bank has built a strong wealth management program centered on understanding and serving the evolving needs of its clients,” said Jon DeMayo, vice president of business development at FID. “We’re pleased to welcome the team to FID and equip its advisors with the breadth of resources, technology and investment capabilities available through Raymond James. Together, these capabilities will help the team deliver comprehensive advice and address the increasingly complex needs of its clients.”
“Through our relationship with Raymond James, our advisors will gain access to an expanded investment platform and comprehensive wealth management resources,” said Gavin A. Mohr, Chief Financial Officer of Independent Bank and IBWM. “These enhanced capabilities will help us serve individuals and families across a broad range of financial goals, including the complex planning requirements of high-net-worth clients, while preserving the personal service and trusted relationships our clients expect.”
About the Financial Institutions Division
The Financial Institutions Division was established by Raymond James in 1987 to provide banks and credit unions with an alternative to traditional third-party investment providers. Raymond James provides full-service securities brokerage and advisory services to financial institutions seeking to compete with the largest banks and securities firms in the country. In addition to a full complement of investment products and services, Raymond James has the ability to deliver investment banking, public finance, research, self-clearing capabilities and wealth management services to both individuals and institutions.
About Raymond James Financial Services
Raymond James Financial Services, Inc. (RJFS), member FINRA/SIPC, is a financial services firm supporting independent financial advisors nationwide. Since 1974, RJFS provides a wide range of investment and wealth planning-related services through its affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both firms are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF), one of the nation’s premier diversified financial services companies with financial advisors throughout the United States, Canada and overseas. Total client assets are approximately $1.93 trillion as of July 31, 2026. Additional information is available at raymondjames.com.
About Independent Bank Corporation
Independent Bank Corporation (Nasdaq Symbol: IBCP) is a Michigan-based bank holding company with total assets of approximately $5.6 billion. Founded as First National Bank of Ionia in 1864, Independent Bank Corporation now operates convenient locations across Michigan’s Lower Peninsula through one state-chartered bank subsidiary. This subsidiary (Independent Bank) provides a full range of financial services, including commercial banking, mortgage lending, investments, and title services. Independent Bank Corporation is committed to providing exceptional personal service and value to its customers, stockholders and the communities it serves. For more information, please visit our website at: www.IndependentBank.com. Member FDIC.
Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC, and are not insured by bank insurance, the FDIC or any other government agency, are not deposits or obligations of the bank, are not guaranteed by the bank, and are subject to risks, including the possible loss of principal. Independent Bank and IB Wealth Management are not registered broker/dealers and are independent of Raymond James Financial Services. Investment advisory services offered through Raymond James Financial Services Advisors, Inc.