The $825 million bank has had an investment program for seven years, according to Christine Strickland, a spokeswoman for Infinex. The bank’s transition to Infinex is expected to occur in late April or early May, she said.
“We were looking for a partner who had a deep understanding of bank-based investment programs,” David Hanafin, vice president and director of Wealth Management at Northern Financial, said in a statement.
Infinex’s operational efficiency, lead generation and technology enhancements were critical factors in Northern Bank’s decision to move to another TPM firm, according to Infinex.
“We are very excited that Northern Bank and Trust selected Infinex as their broker-dealer partner,” said Stephen Amarante, president and chief executive officer of Infinex, in a statement. “I have every confidence we will execute all facets of our model at a high level and have a mutually beneficial, long-lasting relationship with the team at Northern Bank and Trust.”