Integrity Mutual Funds has announced that it will consolidate its two wholly owned broker/dealer firms.
Integritys two B/Ds, Capital Financial Services and ARM Securities Corp. will be merged under the Capital Financial Services name. The consolidation is intended to increase operating efficiency but will not require any layoffs, the company said.
The former ARM offices, which oversee 66 registered representatives in the Midwest and California, are to go from limited to full service.
Capital Financial Services is a full-service brokerage that specializes in supplying investment products and services to independent investment representatives, financial planners and investment advisers. It has 90 registered representatives in the Midwest.
Integrity Mutual Funds has $300 million of assets under management. It has four money management subsidiaries: ND Capital, ND Money Management, ND Resources and Ranson Capital Corp. Integrity manages 11 mutual funds.