Concord Wealth Management, a Matawan, N.J., provider of outsourced services, said Wednesday that it will supply a wealth management platform to First United Bank in Durant, Okla.
Brian J. Schmidtberger, First United's senior vice president of wealth management, said he was attracted to Concord's platform because it will help to strengthen the bank's presence in the wealth management arena.
He said the platform will help First United expand beyond Oklahoma and into Texas.
Concord helps financial services organizations compete in the fee-based investment advisory business by offering a platform that can be customized. Clients including trust companies, banks, broker-dealers, clearing firms, insurance companies, and independent advisory firms.
First United, which has $1.8 billion of assets, has 30 offices in 20 communities.
