Kerndt Brothers Savings Bank acquires wealth management firm

Kerndt Brothers Savings Bank (KBSB), with locations in Lansing, Decorah, Waukon, West Union, Clermont and Cedar Rapids, has acquired the Securities America branch office of Paul Styve Investment Group based in Decorah. The Paul Styve Investment Group has a customer base encompassing all of the upper midwest providing over 28 years of experience in investment and advisory services.

This acquisition will provide KBSB customers with a significant expansion of investment services, including investment advising and consulting, and retirement programs for individuals, municipalities and businesses of any size over a 14-state area.

Jim Kerndt, C.E.O. of Kerndt Brothers Savings Bank, commented: “With 80 million Baby Boomers retiring in the next 20 years and Millennials positioned to be recipients of the largest wealth transfer in history, we see a need to assist our customers with the complex tasks of financial planning before and during retirement.

KBSB’s partnership with Securities America/Paul Styve places us in a unique position to help our many clients prepare now and enjoy retirement later.”

Styve is a graduate of Decorah High School and the University of Northern Iowa School of Finance. Upon graduation, he enlisted in the U.S. Army Intelligence Service. Following his military service, Styve began his investment business in Decorah.

When asked why he wanted to join to forces with Kerndt Brothers Savings Bank, he said, “I like the direction the bank is going. They are thinking about the future of their customers now and 20 years down the road. That’s really smart. It’s also nice to have banking services and investment/retirement planning all under one roof. Very convenient.”

Styve was quick to point out that nothing will change for his existing customers. He will be serving his current customers from the same location in Decorah, including the same phone number. “I can meet with clients at any bank location or the office on Commerce Drive. Working with Kerndt Brothers allows the business to grow and adds a new dimension to the business.”

Kerndt concluded, “Paul has a unique ability to help our customers manage and grow their assets while being able to explain the process in easy to understand terms. We could not be more pleased to have him on board.”