Full-Service Financial Well-being

Community banks often go beyond traditional banking services to meet the evolving financial needs of their customers. One such bank is $310 million-asset First National Bank of Pasco, which partners with Raymond James, a third-party financial advisory firm, to offer investment services to customers. 

“We formally established our partnership to offer comprehensive investment services several years ago to ensure that our customers have one trusted financial home,” says Paula S. O’Neil, president and CEO of the Dade City, Florida, community bank. 

O’Neil says the decision to offer investment services was not about expanding the bank’s product line but rather a matter of fulfilling its mission. “Our goal is to provide seamless advice, connecting banking, lending and investment needs under one roof, backed by the global capabilities of a firm like Raymond James,” she says.

First National Bank of Pasco worked with one financial advisor in particular: Jodi Perez, president and CEO of Independent Financial Services in Land O’Lakes, Florida, and wealth manager at Raymond James Financial Services, Inc. Perez has long experience in the industry: After working for a broker-dealer in Tampa called Invest Financial Corporation for 15 years, she founded wealth management and financial planning firm Strategic Financial Services in 1998. It merged with Independent Financial Services in 2007.

In 2000, Invest introduced Perez to the then-president of First National Bank of Pasco, who asked her to help identify an advisor for the bank.

“Eventually, we agreed that I would take on the role myself,” Perez says, “because the program wasn’t large enough to support a full-time advisor, but a part-time presence worked well for both of us. My office has now had a presence in the bank for 25 years, and it has been a wonderful relationship.”

First National Bank of Pasco and Raymond James have an agreement in which the community bank refers potential clients to Perez in exchange for a referral fee if the prospect becomes a client.

Building financial futures

First National Bank of Pasco’s investment services are designed to meet the needs of its community, says O’Neil. The bank focuses on four distinct areas: women investors, divorce, business planning and retirement planning. 

Women investors have become a key focus for the bank, as they are often their families’ primary financial decision-makers or face distinct financial considerations. 

“We recognized a need for specialized expertise in financial guidance for women,” says O’Neil.

Regarding divorce, customers often need help navigating complex and highly sensitive financial transitions. 

“Having an advisor like Jodi who is skilled in navigating these specific financial challenges ensures that our customers receive compassionate, competent advice during a difficult time,” O’Neil says.

For small-business owners in four counties across western Florida, the community bank offers Certified Exit Planning Advisor (CEPA) resources to help them plan for their next step. “We emphasize the need to transfer assets from the business to personal ownership to help protect against unforeseen risks,” says Perez. 

Services for business owners include risk mitigation, financial planning and estate planning.

Retirement planning remains a cornerstone of First National Bank of Pasco’s offerings. 

“This is foundational for all our customers,” says O’Neil. 

Perez adds, “Retirement today looks very different than it did 20 years ago. It’s now more about having the freedom to pursue passions while remaining active in the community.”

Focusing on the four identified pillars, the community bank ensures its customers receive tailored, expert guidance through life’s most significant financial transitions.

Keys to investment success

Success in helping bank customers with investments involves several key strategies, according to Perez. The first is listening and understanding what matters most to them. This includes helping them prioritize measurable, attainable goals and tracking progress through both good and challenging times. 

Educating clients about risk tolerance and alternative investment options can also make a notable difference. This includes clearly explaining the relationship between risk and potential returns. Clarifying financial needs, wants and wishes is equally important, as is demonstrating how risk and time affect their investment portfolios. 

High-net-worth and ultra-high-net-worth clients benefit from access to advanced services through Raymond James, including trust services, investment banking, private credit and equity, M&A and institutional-level portfolio management.

What drives the bank’s success in partnering with the financial firm on this initiative? 

“The key to our success is aligning the trust and personal touch of a community bank with the breadth and resources of a large financial firm and Jodi Perez,” says O’Neil. “While the firm is always impressive, Jodi makes the difference with our customers and our employees.”

According to O’Neil, the feedback has been overwhelmingly positive. 

“Customers appreciate the convenience of having their investment advisor, Jodi Perez, who is a dedicated local leader who lives and works in the community,” she says.

In terms of the future, according to O’Neil, First National Bank of Pasco’s strategy is one of deepening expertise, not merely chasing volume.

“We are deeply committed to strengthening our partnership through enhanced communication and a shared vision for community betterment,” says Perez. “Our goal is to foster a more seamless collaboration between our teams, helping to ensure that clients experience a unified approach to financial wellness, whether they’re engaging with the bank or our advisory office.”

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