PNC Unit Marketing Annuities, Funds

Provident National Bank has begun selling annuities and mutual funds through its branches.

The Philidelphia-based unit of PNC Financial Corp. on Monday launched a sales program called ProVest, a joint effort of Provident and GNA Corp. of Seattle. GNA is a financial services company that manages retail investment products for financial institutions.

Initially, 10 GNA account executives will sell annuities, mutual funds, and unit investment trusts through the branches. In the past, customers were referred to outside sales offices for investment products.

The program is intended to serve existing bank customers and attract new ones. "We have long recognized that our customers have financial assets that they are not carrying with us," said Fred Frank, senior vice president for retail banking.

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