Under this agreement, Pershing will provide Independent Financial with its comprehensive clearing, trading and financial services outsourcing platform.

"Independent Financial is a well-respected leader in providing financial institutions with a wide range of value-added solutions," said James T. Crowley, managing director, Pershing's National Customers Group. "This agreement underscores our commitment to providing leading financial institutions like Independent Financial and their clients with access to best-of-breed products and services that help them grow their businesses and enhance their competitive positioning."

Independent Financial provides banks and credit unions with a complete range of investment and life insurance products and services. The new relationship with Pershing will provide Independent Financial clients with a consolidated, comprehensive platform to support their specific clearance and execution needs.

"We are excited to be working with a company as established as Pershing," says Michael Weiss, President of Independent Financial. "This agreement enhances our customers' investment operations and securities processing by giving them additional flexibility and technology opportunities."