What does it take to build a top-notch wealth management organization? In the case of PeoplesBank of York, Pa., it took a bold decision to dismantle a successful in-house program and turn its investment sales over to a group of outsiders.

PeoplesBank, a unit of the $835 million-asset Codorus Valley Bancorp, started selling investment products in 1999 and by 2002 the small program was thriving. Then an opportunity arose to buy a local investment brokerage and, though it wasn't shopping for one, PeoplesBank pounced. While the acquisition presented PeoplesBank with an opportunity to significantly boost assets under management, it made the in-house investment expendable.

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