Invest Financial Corp. said Thursday it has agreed to pay a $75,000 fine to settle charges regarding its supervisory procedures from 1995 through November 1997.

The recent settlement with the National Association of Securities Dealers Inc. requires Invest to hire a consultant for one year to ensure the proper procedures are in place.

The NASD said Invest, which provides brokerage and investment services to 240 banks, had failed to adequately supervise several branches and enforce written supervisory procedures, among other things.

Robert R. Blagojevich, Invest's chairman and chief executive, said the firm has since revamped its compliance activities. Steps it has taken include hiring a new compliance officer, revising written procedures for monitoring field representatives, and adding supervisors.

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