Wausau, Wis.-based Peoples State Bank recently acquired local financial advisory business Larson Financial Group.
The bank is expected to onboard Larson Financial Owner David Larson and his assistant Janina Wendt in the coming weeks. Larson Financial will operate as Peoples Wealth Management. Both Larson and Wendt will be based in Wausau.
Larson Financial is a partner of Raymond James Financial Services, which has $1.57 trillion in client assets.
“Peoples State Bank is fully committed to our wealth management customers, and this addition will greatly benefit them,” said Scott Cattanach, president and CEO of the $1.4 billion Peoples State Bank. “Raymond James is among the world’s largest and most respected investment firms.”
Larson graduated from the University of Wisconsin-Eau Claire with a Bachelor of Business Administration/accounting degree. He was an accounting manager/controller for multiple local manufacturers before joining First Union Securities in 1999. He moved to Raymond James with his father, Jon Larson, in 2002. David has owned his own advisory practice for more than a decade.