The entire wealth management team of University of Iowa Community Credit Union (North Liberty, IA) left the credit union on April 26, according to a story appearing in the Corridor Business Journal.
The wealth management team is launching its own firm, United Iowa Financial, and took their clients' business with them.
The article stated that the wealth management team managed $851 million in custodied assets as of February 2019.
The CEO of the credit union stated that the mass departure will give the credit union an opportunity to review and restructure its wealth management operations.
The credit union's wealth management web page stated the credit union is currently not accepting new wealth management clients.
The article did not give a reason for the mass exodus of the credit union's wealth management team.
The story appeared in the print edition of the Corridor Business Journal.
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