Arvest Wealth Management Sets New Standard for Revenue

Monday, March 07 at 08:30 AM
Category: Arvest News

Arvest Bank subsidiary reports year-over-year increase of 6.3 percent.

LOWELL, Ark. – Arvest Wealth Management announced today that it produced record revenue in 2015, the sixth consecutive year the subsidiary of Arvest Bank has done so.

Arvest Wealth Management, which offers wealth management, trust services and insurance products, recorded revenue of $57.9 million in 2015. That’s up more than 6.3 percent from 2014’s total of $54.5 million. Arvest Wealth Management reported total assets under management of more than $9 billion as of Dec. 31, 2015.

“We believe our growth in 2015 can be attributed to strong earnings in portfolio management and trust revenue despite challenges presented by a volatile stock market over the same period,” Arvest Wealth Management president and CEO Jim King said. “We also benefited from internal initiatives to expand our scope in terms of meeting the investment needs of Arvest Bank customers.”

Arvest Wealth Management, previously known as Arvest Asset Management, has set new standards for revenue every year since 2010, when it reported revenue of $39.3 million.

About Arvest Bank

Arvest Bank operates more than 270 bank branches in Arkansas, Oklahoma, Missouri and Kansas through a network of 16 locally managed banks, each with its own board of directors and management team. These banks serve customers in 120 communities with 12-hour weekday banking at most locations. Arvest also provides a wide range of banking services including loans, deposits, treasury management, credit cards, mortgage loans and mortgage servicing. Arvest is an equal housing lender and member FDIC.

About Arvest Wealth Management

Arvest Wealth Management offers wealth management, trust services and insurance products. Investment products and services provided by Arvest Investments, Inc., doing business as Arvest Wealth Management, member FINRA/SIPC, an SEC registered investment adviser and a subsidiary of Arvest Bank. Insurance products are made available through Arvest Insurance, Inc., which is registered as an insurance agency. Insurance products are marketed through Arvest Insurance, Inc., but are underwritten by insurance companies. Investments and Insurance Products: Not FDIC Insured, May Lose Value and Not Guaranteed by the Bank. Trust services provided by Arvest Bank.

Tags: Press Release
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