Rockland Trust’s Investment Management Group (IMG) has achieved a new record, closing out the year with $5.8 billion in Assets Under Administration (AUA) as of Dec. 31, 2022.
Despite strong headwinds in the stock and bond markets, IMG’s AUA has grown by nearly 17 percent, from December 31, 2020, to December 31, 2022, the institution said. The team also achieved a record year of gross new business generation totaling $1.2 billion and made strategic hires throughout the Bank’s footprint to support the growing portfolio.
This significant milestone is the result of IMG’s strong relative investment performance across all major asset classes, and continued commitment to delivering holistic wealth management, which includes financial and retirement planning, special needs services, insurance and tax services, and estate plan analysis. IMG has also created an educational program for business owners and their employees – providing tailored guidance and insight for business retirement plan options.
“This milestone is a testament to our team’s dedication to helping individuals, families, and businesses confidently work toward their financial goals,” said David B. Smith, CFA, Managing Director and Chief Investment Officer at Rockland Trust. “I am incredibly proud of the discipline and strategy that has helped us overcome headwinds from both stock and bond markets this year. I would also like to thank our commercial and retail colleagues for their partnership, as their vision and shared belief in supporting our customers is a major component of our overall success. We look forward to building and deepening our client relationships in 2023.”
For eight consecutive years, IMG has been ranked one of the “Largest Independent Investment Advisers in Massachusetts” by the Boston Business Journal. IMG provides comprehensive wealth management solutions designed to meet the unique financial needs of individuals, businesses, and institutions. The team has more than 90 experienced professionals throughout eleven investment offices located across Massachusetts in Boston, Edgartown, Franklin, Hanover, Hyannis, Milford, Nantucket, Osterville, Peabody, Worcester, and Providence, R.I.