- January 1, 2015: Vol. 2, Number 1

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High Hurdle: Advisers Wayne McCullough and Keith Beckman raise the wealth management bar at Dallas

by Ben Johnson

After 50 years in business as a community financial institution, Dallas-based Benchmark Bank is breaking into the wealth management business.

The move is symbolic of a growing trend among the nation’s banks. According to a 2014 survey by American Banker, roughly a quarter of U.S. banks are gearing up to offer wealth management services in the next two years.

The onus is a simple one. In an attempt to both grow revenue sources and leverage the scale of existing client bases, quite naturally banks are seeking a larger slice of the wealth management pie. And that presents a golden opportunity for many advisers to bring their experience to bear and find a new place to call home.

For Benchmark Bank, it has meant forming Benchmark Private Wealth Management, or BPWM for short, in April 2014. BPWM is a wholly owned subsidiary of the bank and is regulated by the Texas State Securities Board as a registered investment adviser.

“We believe it is a super

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