Investment Professionals, Inc. Continues Expansion of Fixed Income Division
Reflects IPI's Steady Growth Nationwide and Commitment to Services for Bank Partners
SAN ANTONIO, Feb. 24 /PRNewswire/ -- Leading bank broker-dealer Investment Professionals, Inc. (IPI) today announced the promotion of Randolph Harger to Senior Vice President of Fixed Income Institutional Sales and the hiring of Kenneth Muniz as Vice President of Fixed Income Institutional Sales and Brian McNeely as a fixed income trader.
According to John Sacchetti, IPI Fixed Income Director, "These appointments reflect the IPI's significant growth in the bank investment program sector over the past two years and the expansion of our capabilities in retail private asset management and institutional trading." In addition, the growth in the Fixed Income Division reinforces a key strategy underlying IPI's success in the bank investment program segment: close collaboration between the bank and IPI to harvest revenue opportunities for our bank partners throughout the relationship. The fixed income credentials of the IPI team, proximity to the IPI financial advisor and inherent cost efficiencies compel bank treasury departments to explore the benefits of working with IPI in several areas.
Since 1979 Mr. Harger has specialized in institutional fixed income trading for bank, thrift and credit union clients. Prior to his career in fixed income, Mr. Harger was a practicing attorney in the State of Louisiana. He served as General Counsel to the Governor's Commission on Law Enforcement and Administration of Criminal Justice and Assistant Attorney General and Legislative Liaison for Criminal Matters under two Attorneys General. Mr. Harger holds a B.S. in Corporate Finance and Economics and a J.D. of Laws from Louisiana State University.
Ken Muniz has over 19 years' experience in the financial services industry. Prior to joining IPI, he was Executive Vice President at Entrust Wealth Solutions, LLC; Vice President of Fixed Income at TD Ameritrade; Vice President, Investments at Advisors Asset Management, Inc.; Director of Fixed Income at USAA Investment Management; and a Senior Financial Consultant in Merrill Lynch's Private Client Group. Mr. Muniz studied finance and management at the University of Texas at San Antonio.
According to IPI President and Founder Scott Barnes, "Our Fixed Income group produced stellar results in the fourth quarter of 2009 for the firm, our financial consultants, clients and financial partners. I am confident that with John Sacchetti at the helm our growing team will continue this type of performance in 2010."
Mr. Sacchetti stated, "I look forward to helping IPI stay at the forefront of its industry with competitive fixed income pricing and best-of-breed instruments for client portfolios. Our firm's unique value proposition – an advanced fixed income trading platform, unparalleled training and 360° dedicated operations support – positions us for success in 2010 and beyond."
About Investment Professionals, Inc.
Founded in 1992, IPI is a private, Texas-based investment and insurance brokerage and asset management firm with $4.2 billion under management and 45,000 clients nationwide. IPI is a leading provider of on-site bank investment programs and currently partners with more than 125 financial institutions with assets in the range of $35 million to over $7 billion. The firm's retail branches are in San Antonio and Houston, Texas, in The Woodlands and Clear Lake.
IPI recently moved up to 3rd place in its category of $35-$99 million in revenue on the San Antonio Business Journal's 2009 Fast Track list of fastest-growing companies.(1) The list ranked companies by compounded average growth in revenue in the 2006-2008 period. Notwithstanding the challenging market of 2008, IPI maintained a solid 19% average revenue growth from 2006-2008. In the 12-year period from 1996-2007, IPI earned an average return on equity of 31%.
In seven American Brokerage Consultants' Studies of Bank Brokerage and Retail Investment Services over 12 years from 1997-2009, bank executives nationwide cast over 2,200 votes overwhelmingly in favor of IPI. In 2008 IPI was voted the Most Highly Rated Bank Brokerage Firm for an unprecedented fourth time.(2) In addition to being one of the fastest-growing companies in San Antonio, IPI has been named one of the Best Companies to Work for in Texas for three years in a row.(3) IPI is a registered broker-dealer, registered investment advisor and member of FINRA and SIPC.
(1) San Antonio Business Journal, 7/17/09
(2) 1997 through 2008 national "Studies of Bank Brokerage and Retail Investment Services" conducted by American Brokerage Consultants (ABC), St. Petersburg, FL., and Bank Investment Consultant Magazine (BIC), New York, NY. In the most recent 2008 national study, a total of 2,024 banks offering retail investment programs were surveyed. A total of 14.6% of the banks who were surveyed responded to the 2008 survey. Individual banks were asked to rank their specific investment program in the ABC survey; responder results were aggregated and compared against the results of all brokers dealers in the survey. Past ranking performance may not be indicative of future ranking performance. IPI has been honored with the #1 ranking in three out of the most recent four surveys conducted by ABC.
(3) Texas Monthly Magazine, 2009, 2008, 2007
NO BANK GUARANTEE | NOT FDIC INSURED | MAY LOSE VALUE Securities and Advisory Services offered through Investment Professionals, Inc., a Registered Broker/Dealer and Registered Investment Advisor. Member FINRA and SIPC.
Media Contact: John Evans |
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(210) 582-2799 |
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SOURCE Investment Professionals, Inc.
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