St. Petersburg, Florida, December 18, 2025

Raymond James Financial, Inc. has partnered with Bank Midwest to bolster Midwest Wealth Management, rebranding it as Midwest Wealth Group. This strategic collaboration aims to improve client service, bringing approximately $692 million in assets under management. The partnership will enhance operational efficiency and provide access to innovative financial solutions, benefiting local entrepreneurs and communities throughout the Midwest region.

Raymond James Partners with Bank Midwest to Enhance Wealth Management

A strategic collaboration to bolster financial services in the Midwest

St. Petersburg, Florida – In a significant development within the financial services sector, Raymond James Financial, Inc. has announced its collaboration with Bank Midwest to support Midwest Wealth Management (MWM). This partnership signals a robust move aimed at elevating client service capabilities while bringing approximately $692 million in client assets under Raymond James’ management.

This mutually beneficial partnership allows MWM to rebrand as Midwest Wealth Group (MWG), thereby offering a comprehensive suite of wealth management services through Raymond James Financial Services. As businesses across America continue to adapt and thrive under challenging economic conditions, local entrepreneurs demonstrate resilience, proving that innovation and partnerships can catalyze growth for communities.

Understanding the New Partnership

The agreement between Raymond James and Bank Midwest not only enhances MWG’s operational efficiency but also positions it competitively against larger national firms. By leveraging advisor-centric technology, deeper resources, and an expanded range of financial services, MWG aims to improve its client offerings significantly.

The MWG team, located in Spirit Lake, Iowa, comprises six seasoned financial advisors, seven branch professionals, and one program manager. Collectively, this team oversees about $692 million in assets, indicating a solid foundation for future growth.

Benefits of the Collaboration

This collaboration is strategically designed to become a game-changer for Midwest Wealth Group. With access to Raymond James’ extensive resources and innovative technology, MWG can now enhance its client service capabilities, thereby ensuring a higher level of personal investment management. Such enhancements not only support existing clients but also emphasize the commitment to attracting new clientele.

Raymond James’ Financial Institutions Division (FID), established in 1987, has played a vital role in providing customized investment solutions tailored to the needs of financial institutions like Bank Midwest. By moving away from traditional investment providers, the partnership showcases how innovative collaborations can lead to improved service delivery while maintaining local integrity.

The Profile of Bank Midwest

Bank Midwest, an employee-owned institution, boasts 11 locations across Iowa, Minnesota, and South Dakota, and manages assets exceeding $1.3 billion. The bank offers a full suite of financial solutions, including loans, FDIC-insured deposit accounts, insurance, investment, and trust services. This community-focused approach aligns with the objectives of both Raymond James and Bank Midwest to ensure that clients receive personalized financial services that meet their unique needs.

Implications for Economic Growth

This partnership is indicative of a broader trend towards consolidating resources and enhancing service capabilities within the financial sector. The increased efficiency and advisory options available through MWG can foster improved client satisfaction, ultimately contributing to economic growth in the Midwest region.

As more partnerships akin to this emerge, they have the potential to catalyze local economies by supporting job creation and encouraging business successes in the financial services landscape. Such synergies illustrate the importance of collaboration in navigating today’s complex economic environment.

Conclusion

The collaboration between Raymond James and Bank Midwest represents a significant step towards enhancing financial services in the Midwest. As both companies strive to provide unparalleled wealth management solutions, local clients will benefit from a more robust and resource-rich advisory framework. This partnership not only supports existing financial endeavors but also serves as a testament to the resilience of local businesses and their commitment to fostering community growth.

Readers are encouraged to support local businesses and stay engaged with the ongoing developments in Memphis, Moore, and the broader Tennessee economy as they adapt and innovate in this evolving landscape.

Frequently Asked Questions (FAQ)

What is the nature of the partnership between Raymond James and Bank Midwest?

The partnership involves Raymond James Financial, Inc. supporting Bank Midwest’s investment program, Midwest Wealth Management (MWM), which will rebrand as Midwest Wealth Group (MWG). This collaboration brings approximately $692 million in client assets under Raymond James’ management.

What services will MWG offer to its clients?

MWG will offer clients a comprehensive suite of wealth management services through Raymond James Financial Services, leveraging advisor-centric technology, expanded resources, and a broader range of financial services offerings.

How many professionals are part of the MWG team?

The MWG team comprises six financial advisors, seven branch professionals, and one program manager, collectively overseeing approximately $692 million in client assets.

What is the history of Raymond James’ Financial Institutions Division?

Established in 1987, Raymond James’ Financial Institutions Division (FID) provides banks and credit unions with an alternative to traditional third-party investment providers, offering a full complement of investment products and services, including investment banking, public finance, research, self-clearing capabilities, and wealth management services to both individuals and institutions.

Where is Bank Midwest located, and what services does it offer?

Bank Midwest is an employee-owned financial institution with 11 locations across Iowa, Minnesota, and South Dakota. With assets exceeding $1.3 billion, the bank offers a full suite of financial solutions, including loans, FDIC-insured deposit accounts, insurance, investment, and trust services.

What does this partnership signify for Raymond James’ strategic goals?

This strategic partnership underscores Raymond James’ commitment to expanding its presence in the financial services sector and enhancing its offerings to clients through innovative collaborations.

Key Features of the Raymond James and Bank Midwest Partnership

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Author: STAFF HERE MEMPHIS WRITER

The MEMPHIS STAFF WRITER represents the experienced team at HEREMemphis.com, your go-to source for actionable local news and information in Memphis, Shelby County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Beale Street Music Festival, Elvis Week, and Memphis in May International Festival. Our coverage extends to key organizations like the Greater Memphis Chamber and the Memphis Convention & Visitors Bureau, plus leading businesses in logistics, healthcare, and music that power the local economy such as FedEx, St. Jude Children's Research Hospital, and AutoZone. As part of the broader HERE network, including HEREBristol.com, HEREChattanooga.com, HEREKnoxville.com, and HERENashville.com, we provide comprehensive, credible insights into Tennessee's dynamic landscape.