TAMPA, Fla. – INVEST Financial Corp., a unit of Jackson National Life Insurance, announced yesterday it has acquired the institutional securities contracts of PFIC Securities Corp., a unit of Morgan Keegan & Co. The deal gives INVEST access to 57 banks and credit union giant Lockheed FCU, which accounts for more than 20% of the PFIC contracts. INVEST, which already serves 10 credit unions, hopes to use the Morgan Keegan contracts as leverage for more credit union business, according to Andrew Silver, a spokesman for the company. “We see this market as a growth opportunity for INVEST,” he told The Credit Union Journal yesterday.
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