Westfield Bank in Massachusetts plans to offer its customers wealth management and insurance services through a new partnership with Charter Oak Insurance and Financial Services.
The bank's new operation, Westfield Wealth Management and Insurance Group, will bring Charter Oak agents on-site to provide clients with a range of financial services, according to a Tuesday press release. Charter Oak is a general agency of Massachusetts Mutual Life Insurance Company.
Westfield's business and consumer clients will have access to business and estate planning, life insurance and retirement services along with wealth management and investment products, according to the release. The group will be led by Shawn Torres, a managing director of Charter Oak's office in Holyoke, Mass., and Kevin O'Connor, Westfield's vice president of retail banking and marketing.
"Our customers expressed a need for local options in their insurance, investing and trust services," O'Connor said in the release. "We spent considerable time identifying the company that best fits what we believe is the right match for our customers. We are confident that bringing together local companies like Westfield Bank and Charter Oak to deliver a comprehensive program for consumer and business customers is a good fit for our customers and the right direction for the bank."
The $1.3 billion-asset Westfield is a subsidiary of Westfield Financial (WFD). It has 13 offices in Massachusetts and Connecticut.