Integrated Fund Services announced Monday that Friedman, Billings, Ramsey Group has selected it to provide financial administration, fund accounting and transfer agency services for its affiliate FBR mutual fund group. The transition is expected to take place by the end of the summer.
"We are pleased that Friedman, Billings, Ramsey has selected Integrated to provide services to its bank and mutual fund family, and we look forward to a long, mutually beneficial relationship with such a prominent organization," said Roy Rogers, vice president at Integrated. Friedman, Billings, Ramsey currently is providing the services internally, Rogers said.
FBR National Bank and Trust President Linda Paisley said, "The highest level of quality service for the mutual fund shareholders is of utmost importance to us, and we are confident that Integrated Fund Services will deliver on a consistent basis as we continue to grow our business."
- The FBR funds are comprised of 10 equity, fixed income and money market mutual fund portfolios with $1.4 billion in assets for 40,000 shareholder accounts.