First Clover Leaf adds wealth management service
EDWARDSVILLE – First Clover Leaf Bank has announced an affiliation with Visionary Wealth Advisors to provide bank customers with financial planning and wealth management services.
First Clover Leaf Wealth Management will be available to clients at each of its six branches, under the management of Visionary Wealth Advisors, which was founded in March by Brett Gilliland and Tim Hammett, both veterans in the financial planning industry.
The service will operate as a Registered Investment Advisor, offering independent advice, with no proprietary funds and no pressure or incentive to recommend any specific funds.
“We chose Visionary Wealth Advisors as our partner because we prefer the RIA model, and want our customers to have unbiased financial advice. We feel that follows the spirit of our community bank and is in our customers’ best interest,” said David Kuhl, First Clover Leaf Bank chief executive officer.
Gilliland said they founded Visionary largely because clients at their previous broker/dealer practices were wanting more options, and the RIA model opened up many more investment opportunities. Visionary Wealth Advisors has $220 million in assets under management, 21 advisors and offices in Edwardsville and St. Louis.
“This arrangement is a natural fit,” said Gilliland. “I’ve always had a passion for helping people. I grew up in banking – my father, uncle and grandfather were all bankers. I had a vision for how we could make our services work for banking customers. First Clover Leaf Bank wanted to provide financial planning and advising, but wanted to do it in the right way. We met and realized very quickly that we would be ideal partners.”
Bank clients will have access to retirement and estate planning, investment management, small business retirement plans and college planning. Visionary provides the decision-making process on all investments, has the support staff and investment software, handles compliance and all back office services.
The bank said several members of its management team were already longtime clients of Scott Carson, who was the founder of Meridian Financial Group before his recent merger with Visionary Wealth Advisors.
For more information visit VisionaryWealthAdvisors.com and FirstCloverLeafBank.com.