Progress Federal Savings, a $300 million-asset thrift in Plymouth Meeting, Pa., is offering wealth management services through an alignment with a local trust company.
The thrift, a unit of Progress Financial Corp., is teaming with Semper Trust Co. to offer trust and investment management services to clients with at least $500,000 to invest.
For Progress, the move is a step toward becoming a fullservice bank, said chief executive W. Kirk Wycoff.
Semper manages more than $70 million in assets and is affiliated with Stratton Management Co., also of Plymouth Meeting.