Meriden, CT and Napa, CA (PRWEB) March 02, 2016
Infinex Financial Group announced today that it has closed its acquisition of Essex National Securities, LLC (ENSI), after receiving Financial Industry Regulatory Authority (FINRA) approval in February. Over the upcoming months, both companies will combine resources to become a premier investment services firm dedicated to the financial institution channel.
A number of ENSI employees and executives will join the Infinex team. Stephen Amarante, Infinex’s current President and Chief Executive Officer, will remain at the helm of the firm. Scott Davis, ENSI’s President and Chief Executive Officer, will lead the Business Development and Sales Management divisions of the merged organization as Executive Vice President and Chief Relationship Officer.
The combined entity is expected to generate over $120 million in annual revenue and serve more than 210 financial institutions, 500 financial advisors and 1,000 licensed branch employees nationwide. The firm will be headquartered in Meriden, CT and will maintain an office in Napa, CA, providing a bicoastal service and support presence.
“The Infinex-ENSI collaboration has created a powerhouse in the delivery of investment services to financial institutions and their customers. Infinex has always been dedicated to exceptional support and service, but with both organizations’ areas of expertise, we now offer clients a one-of-a-kind experience that can’t be matched in the space,” said Stephen Amarante, President and CEO of Infinex Financial Group.
“We are thrilled to be a part of Infinex and their bank ownership structure. This step places our combined firms at the forefront of our industry.” said Scott Davis, President and CEO of Essex National Securities, LLC, “It’s an exciting time for both organizations and for our clients. Infinex is the answer to a specific need in the industry and the year ahead will reflect our dedication to meeting the unique demands of the institutions we currently serve and those we hope to serve in the future.”
About Infinex Financial Group
Infinex is a leading provider of investment, insurance, and wealth management products and services to financial institutions and their customers. The firm, headquartered in Meriden, CT, has a unique history of being formed by banks, owned by banks, and focused on providing service to financial institutions.
For more information, please visit Infinex at http://www.infinexgroup.com.
About Essex National Securities, LLC
As an independent broker/dealer, insurance agency, registered investment advisor, and cutting-edge technology company, Essex National Securities, LLC (ENSI) builds and delivers customized solutions that are tailor-made for banks and credit unions. Truly personalized service and industry-leading expertise are the hallmarks of their business.
For more information, please visit ENSI at http://www.ensinet.com.