First Financial Bank is ditching its longtime third-party broker-dealer for Raymond James.
The bank's investment services program employs seven advisers who collectively manage roughly $406 million in client assets, according to Raymond James. It also employs seven assistants.
The bank decided to move the program after 18 years with Cetera Investment Services.
"We believe this will allow us to enhance our commitment to our customers by providing them access to more innovative financial solutions along with an outstanding service experience," Ronald Butler, the bank's chief administrative officer, said in a statement.
The bank operates in 69 locations in Texas, according to First Financial.
"As with Raymond James, First Financial is dedicated to providing superior client service. We look forward to providing the support they need as they continue to expand their investment program and offerings throughout Texas," John Houston, managing director of Raymond James' Financial Institutions Division, said in a statement.
First Financial is the second bank to join Raymond James' network in less than a week. Sturgis Bank & Trust Company, a bank based in Sturgis, Mich., severed its 16-year relationship with LPL Financial and switched its program to Raymond James, according to the firm's announcement last week.
