Raymond James Welcomes New $261 Million Program with First National Bank of Sparta
Rhea-AI Summary
Raymond James (NYSE: RJF) announced that First National Bank of Sparta selected its Financial Institutions Division to support the bank’s investment program, Patton Wealth Management, effective Oct. 13, 2025. PWM, led by advisor Brian Patton, manages approximately $261 million in client assets and will provide clients wealth management through Raymond James Financial Services.
PWM team members Pam Burns and Becky Ohms join the alignment; PWM was founded in 2017 and Patton has more than three decades of industry experience. Raymond James highlighted its advisor-focused service model, platform and technology as reasons for the partnership.
Positive
- $261 million in client assets transferred to Raymond James
- Advisor-focused service model and advanced technology platform
- PWM team retains boutique, personalized service while expanding capabilities
- Brian Patton brings 30+ years of industry experience
Negative
- None.
Insights
Raymond James FID wins a $261 million advisory program transfer, expanding its advisor network and client assets.
Raymond James will receive advisory business from Patton Wealth Management, led by Brian Patton, as First National Bank of Sparta aligns PWM to deliver wealth services through Raymond James Financial Services. The program represents approximately
The transaction depends on successful integration into the Financial Institutions Division's advisor-focused service model, technology platform and operational processes. Key execution risks include platform migration, client consent or paperwork frictions, and preserving existing client relationships during the transition. The announcement cites cultural fit and expanded capabilities for high-net-worth and business owner clients as drivers but provides no performance guarantees.
Watch for client transfer completion milestones and any public reporting of retained asset levels or new business sourced after the alignment in the next 3–12 months. Monitor updates on operational integration, advisor continuity and whether the relationship materially increases managed assets or product offering scope beyond current levels.
St. Petersburg, Fla., Oct. 13, 2025 (GLOBE NEWSWIRE) -- Raymond James (NYSE: RJF) announced today that the First National Bank of Sparta (FNBS) has selected its Financial Institutions Division (FID) to support the bank’s investment program, Patton Wealth Management (PWM), according to Stephen Kruchten, president of FID. Through this new alignment, PWM will provide clients with wealth management services through Raymond James Financial Services.
Based in Sparta, Illinois, PWM is led by financial advisor Brian Patton, who manages approximately
“FNBS and PWM have consistently demonstrated a strong commitment to delivering trusted advice and meeting the financial needs of clients across southern Illinois and neighboring communities,” said Jon DeMayo, vice president of business development at FID. “We are eager to support their continued growth with the advisor-focused service model, full suite of resources and advanced technology platform that distinguish Raymond James FID.”
Patton brings more than three decades of experience in the financial services industry, beginning his career at The Heitner Corporation before becoming an advisor with Investment Centers of America, Inc. He founded PWM in 2017 and holds a bachelor’s degree in business from Eastern Illinois University.
“Our decision to transition our investment program to Raymond James was guided by cultural alignment and a shared commitment to client-first values,” said David Sternberg, president of FNBS. “As we evaluated our options, we found that FID offered the best long-term fit for our team and clients – providing the independence, advisor-focused service model and robust platform needed to support continued growth. We are confident this new chapter will enable PWM to thrive, maintaining the boutique feel and personalized service our clients expect while expanding our capabilities for high-net-worth and business owner 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
About First National Bank of Sparta
First National Bank of Sparta is a locally owned and operated community bank based out of Sparta, Illinois. The bank has deep roots in the community, helping generations of local families with banking services over the last 140 years. Today, it stands as one of the community’s premier banks, dedicated to helping current customers and the next generation achieve their financial goals.
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. First National Bank of Sparta and Patton Wealth Management are not registered broker/dealers and are independent of Raymond James Financial Services. Investment advisory services offered through Raymond James Financial Services Advisors, Inc.
Justin Mayfield Raymond James Financial 727.567.2824
FAQ
What did Raymond James announce about First National Bank of Sparta on Oct. 13, 2025?
How much in client assets does Patton Wealth Management bring to Raymond James (RJF)?
Who leads Patton Wealth Management and what is their experience?
Will PWM clients keep personalized service after moving to Raymond James (RJF)?
Which Raymond James unit will support the FNBS investment program?
Which PWM team members are mentioned in the Raymond James alignment?
