Raymond James Financial Institutions Division to welcome new $2.7 billion program with Trustmark
Multi-state consumer bank cites Raymond James’ commitment to client-first service and high-net-worth growth strategy
ST. PETERSBURG, Fla. – Raymond James Financial Institutions Division (FID) announced today that Trustmark National Bank has selected the firm’s platform to enhance its financial planning and advisory offering, according to Stephen Kruchten, president of FID. With this new alignment, Trustmark Financial Services (TFS) will provide clients with investment and wealth management services through Raymond James Financial Services.
TFS consists of 33 financial professionals, including 18 financial advisors, who manage approximately $2.7 billion in client assets from offices in Alabama, Florida, Mississippi, Tennessee and Texas.
"Trustmark has long been recognized for its commitment to personalized service and investment in the communities it serves," said Kruchten. "We’re proud to soon support their team with our client-first service approach and a sophisticated platform designed to preserve the strength of their brand locally while empowering advisors to compete — and win — in their markets. Through these robust capabilities, we aim to help Trustmark expand its reach across key client segments and elevate the wealth management experience for both advisors and clients."
"We chose Raymond James for its continued investment in technology and resources, its strong reputation for stability and growth, and its tailored service approach — all delivered with the feel of a boutique firm backed by the scale and capabilities of a large, diversified institution. Raymond James’ leadership remains focused on enhancing the advisor and client experience, with advisor retention as the firm’s number one growth priority,” said Mike Zito, president of TFS. "It was the clear choice to elevate and expand our investment and wealth management offering."
"Raymond James delivers the scale, support and flexibility that institutions like Trustmark require to grow intentionally," said Jon DeMayo, vice president of business development at FID. "Our national brand presence, paired with a truly advisor-centric approach, will position their team to compete with the largest firms while confidently meeting the evolving needs of high-net-worth and ultra-high-net-worth clients."
About the Financial Institutions Division
The Financial Institutions Division was established by Raymond James in 1987 to provide banks and credit unions with an alternative to traditional third-party investment providers. Raymond James provides full-service securities brokerage and advisory services to financial institutions seeking to compete with the largest banks and securities firms in the country. In addition to a full complement of investment products and services, Raymond James has the ability to deliver investment banking, public finance, research, self-clearing capabilities and wealth management services to both individuals and institutions.
About Raymond James Financial Services
Raymond James Financial Services, Inc. (RJFS), member FINRA/SIPC, is a financial services firm supporting independent financial advisors nationwide. Since 1974, RJFS provides a wide range of investment and wealth planning-related services through its affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both firms are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF), one of the nation’s premier diversified financial services companies with financial advisors throughout the United States, Canada and overseas. Total client assets are approximately $1.53 trillion as of Apr. 30, 2025. Additional information is available at raymondjames.com.
About Trustmark
Trustmark National Bank, a wholly owned subsidiary of Trustmark Corporation (NASDAQGS: TRMK), provides comprehensive institutional, retail and mortgage banking services as well as wealth management services through offices in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Visit trustmark.com for more information.
Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC, and are not insured by bank insurance, the FDIC or any other government agency, are not deposits or obligations of the bank, are not guaranteed by the bank, and are subject to risks, including the possible loss of principal. Trustmark Financial Services and Trustmark Corporation are not registered broker/dealers and are independent of Raymond James Financial Services. Investment advisory services offered through Raymond James Financial Services Advisors, Inc.
This information is for informational purposes only and is not a solicitation to buy or sell any particular security.