Rockland Trust’s Investment Management Group Announces a Record Year with $5.8 Billion in Assets Under Administration
24 Gennaio 2023 - 2:00PM
Business Wire
Rockland Trust’s Investment Management Group (IMG) achieved a
new record, closing out the year with $5.8 billion in Assets Under
Administration (AUA) as of December 31, 2022. Despite strong
headwinds in the stock and bond markets, IMG’s AUA has grown by
nearly 17 percent, from December 31, 2020, to December 31, 2022.
The team also achieved a record year of gross new business
generation totaling $1.2 billion and made strategic hires
throughout the Bank’s footprint to support the growing
portfolio.
This significant milestone is the result of IMG’s strong
relative investment performance across all major asset classes, and
continued commitment to delivering holistic wealth management,
which includes financial and retirement planning, special needs
services, insurance and tax services, and estate plan analysis. IMG
has also created an educational program for business owners and
their employees – providing tailored guidance and insight for
business retirement plan options.
“This milestone is a testament to our team’s dedication to
helping individuals, families, and businesses confidently work
toward their financial goals,” said David B. Smith, CFA, Managing
Director and Chief Investment Officer at Rockland Trust. “I am
incredibly proud of the discipline and strategy that has helped us
overcome headwinds from both stock and bond markets this year. I
would also like to thank our commercial and retail colleagues for
their partnership, as their vision and shared belief in supporting
our customers is a major component of our overall success. We look
forward to building and deepening our client relationships in
2023.”
For eight consecutive years, IMG has been ranked one of the
“Largest Independent Investment Advisers in Massachusetts” by the
Boston Business Journal. IMG provides comprehensive wealth
management solutions designed to meet the unique financial needs of
individuals, businesses, and institutions. The team has more than
90 experienced professionals throughout eleven investment offices
located across Massachusetts in Boston, Edgartown, Franklin,
Hanover, Hyannis, Milford, Nantucket, Osterville, Peabody,
Worcester, and Providence, RI. Partnering with IMG, clients have
access to a full range of services including Investment Management,
Trust and Estate Planning, Insurance, Financial and Retirement
Planning, and more. (IMG Broadcast Appearances).
About INDB and Rockland Trust
Independent Bank Corp. (NASDAQ Global Select Market: INDB) is
the holding company for Rockland Trust Company, a full-service
commercial bank headquartered in Massachusetts. Rockland Trust was
named to The Boston Globe's "Top Places to Work" 2022 list, an
honor earned for the 14th consecutive year. *In 2022, Rockland
Trust was ranked #1 in Customer Satisfaction with Retail Banking in
New England. Rockland Trust has a longstanding commitment to equity
and inclusion. This commitment is underscored by initiatives such
as Diversity and Inclusion leadership training, a colleague
Allyship mentoring program, and numerous Employee Resource Groups
focused on providing colleague support and education, reinforcing a
culture of mutual respect and advancing professional development,
and Rockland Trust's sponsorship of diverse community organizations
through charitable giving and employee-based volunteerism. In
addition, Rockland Trust is deeply committed to the communities it
serves, as reflected in the overall "Outstanding" rating in its
most recent Community Reinvestment Act performance evaluation.
Rockland Trust offers a wide range of banking, investment, and
insurance services. The Bank serves businesses and individuals
through over 120 retail branches, commercial and residential
lending centers, and investment management offices in eastern
Massachusetts, including Greater Boston, South Shore, North Shore,
Cape Cod and Islands, Worcester County, and Rhode Island. Rockland
Trust also offers a full suite of mobile, online, and telephone
banking services. Rockland Trust is an FDIC member and an Equal
Housing Lender.
*Rockland Trust received the highest score in a tie in the New
England Region of the J.D. Power 2022 U.S. Retail Banking
Satisfaction Study of customers’ satisfaction with their primary
bank. Visit jdpower.com/awards for more details.
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version on businesswire.com: https://www.businesswire.com/news/home/20230124005320/en/
Melissa Guimond, Public Relations Specialist,
Melissa.Guimond@RocklandTrust.com
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