Marstone’s Community Bank Solution Launches with Bank of Oak Ridge to Rapidly Provide Digital Wealth Management for End Clients

September 13, 2022 at 09:30 AM EDT

Marstone’s offering specifically serves the growing needs of community banks to retain clients by providing competitive digital wealth management solutions

Marstone, Inc., a leading digital wealth technology firm, today announced it is expanding to offer its turnkey digital wealth management platform to community banks across the country via direct engagement with Marstone’s Registered Investment Advisor (RIA) or through partnerships within Marstone’s RIA network. The solution is being deployed as a tri-party partnership between Detalus Advisors, an investment advisory firm focused on attaining the diverse financial goals and objectives of individuals, families, and businesses, and the Bank of Oak Ridge, a community bank with multiple locations in North Carolina. Future community bank clients can also select to utilize Marstone’s own (RIA) depending on their wealth management strategy.

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Marstone’s community bank solution launches with Bank of Oak Ridge to rapidly provide digital wealth management for end clients. (Photo: Business Wire)

“Marstone offers a complete digital wealth management platform and financial health and wellness toolkit that enables community banks to meet their clients’ needs at a fraction of the time - and cost - that it would take to create a comparable solution in-house,” said Margaret J. Hartigan, co-founder and CEO of Marstone. “This new model allows any community bank to effortlessly deploy digital wealth management services to its clients efficiently and easily - all in under a month. That timescale is unheard of in the financial industry and, as community banks become increasingly trusted partners to clients post-pandemic, we know that this solution will continue to see adoption nationwide. We look forward to working with more community banks like our existing partner Amerant.”

Using Marstone’s platform, Bank of Oak Ridge customers will now have the ability to take control of their own wealth management. Clients can seamlessly access an array of digital wealth management services connected to Bank of Oak Ridge's website.

“A growing number of our clients are interested in the ability to not only conduct their banking online, but to also have the power to oversee their financial management digitally. Through our partnership with Detalus Advisors and Marstone, we’re able to provide our neighbors with a more comprehensive banking and investment offering,” says Tom Wayne, CEO and CFO of Bank of Oak Ridge.

Marstone has been partnered with Detalus since 2020, acting in a sub-advisory capacity for the day-to-day management of Detalus Advisors’ digital accounts. The new community banking solution marks an innovative expansion of the relationship.

“The recent economic climate has brought with it a spike in demand for digital investment offerings,” said Clint Lewis, managing director at Detalus Advisors. “This partnership supports Bank of Oak Ridge clients with Detalus’ objective, first-class wealth management advice. This cost-effective service is enabled by Marstone’s market-leading software platform. This will benefit the communities surrounding Bank of Oak Ridge who seek a trusted local partner to help manage their financial health and future.”

To learn more about Marstone’s offerings, please visit https://www.marstone.com or contact us at info@marstone.com.

About Marstone

Marstone is a leading digital wealth management platform with a mission to enhance financial literacy, deepen financial inclusion, and humanize finance for all. Its enterprise-ready solution, Powered by Marstone^TM, enables financial institutions to efficiently and affordably reach, acquire, and retain clients who seek straightforward information and engagement around their finances.

As a proven and trusted technology partner, Marstone has comprehensive integrations with custodians including Pershing, core banking platforms including Fiserv, account aggregation platforms, and investment managers. These integrations, in addition to Marstone’s partnerships with globally recognized foundations including the World Economic Forum Centre for the Fourth Industrial Revolution and leadership participation in the Milken Institute's FinTech Advisory Committee, provide organizations the opportunity to deploy a technology that will help future-proof their businesses as consumer expectations for digital wealth management evolve.

About Detalus Advisors, LLC

Headquartered in St. Louis, Detalus Advisors, LLC (an SEC Registered Investment Advisor) is an investment advisory firm focused on attaining the diverse financial goals and objectives of individuals, families, businesses, and other institutions. Detalus’ team creates customized investment strategies, implements the plan, and continually monitors to drive client portfolios towards their goals. Detalus’ experience is balanced with innovation, technology, and state-of-the art analytical reporting to provide its clients with quality investment advisory and portfolio management services.

About Oak Ridge Financial Services, Inc.

Oak Ridge Financial Services, Inc. (OTCPink: BKOR) is the holding company for Bank of Oak Ridge. Bank of Oak Ridge delivers personal attention and convenience for every client. Substantially all the Bank’s employees are stockholders in Oak Ridge Financial Services, Inc. through their participation in the Bank’s Employee Stock Ownership Plan. We are proud of our many accolades and awards, including seven “Best Bank in the Triad” wins, “Triad’s Top Workplace” finalist, “Triad’s Healthiest Employer” winner and a 2016 Better Business Bureau “Torch Award” winner. We offer a complete range of banking services for individuals and businesses. Bank of Oak Ridge is a member of the FDIC and an Equal Housing Lender.