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Investment Management & Trust Services Division

Peoples Security Wealth Management Group has been offering services to the community for over a century. We have assisted our customers in attaining their goals by upholding our focus on personalized customer service. Our teams are staffed with highly qualified professionals who have developed a reputation for timely decision-making and excellent service to the growing list of clients.

Icon-ProductsOur Mission

To exceed customers’ expectations as we provide superior service and proactively help them achieve their goals.

 

 

Investment Management & Trust Services

We offer a broad range of investment management, fiduciary, and custodian services.

 

Investment Management

Investment Management is a vital step in your financial planning process. Peoples Security Bank & Trust, as your Discretionary Investment Manager, will assist you in fulfilling your financial goals. We will create an investment portfolio designed especially for you based on your financial objectives and risk tolerance. Our Investment Management Team will monitor your account to ensure that your financial objectives are being met and if necessary will make recommendations to enhance the value of your portfolio.

Living Trusts

A Living (revocable) Trust is a trust you create during your lifetime. Peoples Security Bank & Trust, as your Trustee, will act as your Discretionary Investment Manager. In addition, we will make distributions from the trust to you or to others on your behalf. We will also follow any testamentary wishes you have provided for within the trust.

Trust Under Will

A Trust Under Will, or Testamentary Trust, is a legal document created under a decedent’s will. This trust allows a decedent to determine who, how, and when a named beneficiary will receive any benefits from the trust. Peoples Security Bank & Trust as Trustee will assume management of the trust’s assets and ensure proper administration according to the terms of the trust.

As the named executor in a decedent’s will, Peoples Security Bank & Trust is entrusted with the responsibility of concluding a person’s final affairs. We will work with the appropriate parties to ensure the estate administration is completed in a timely manner. In addition, we are also able to work with individual executors by acting in the capacity of Agent for the Executor.

IRA Trustee Services

As trustee for your Individual Retirement Account, we will create an investment portfolio designed especially for you based upon your financial objectives and risk tolerance. Your account will be reviewed to ensure that your financial goals are being met. Recommendations will be made to adjust the portfolio if necessary.

Guardianships

When appointed Guardian of the estate for a minor or an individual lacking mental capacity, Peoples Security Bank & Trust will serve in a fiduciary capacity, exercising full discretion in asset management and other guardian-related issues.

Custodial Services

As a custodian, the bank will hold your assets in a non-managed account. The bank will collect any income that is generated by the assets and will execute sales or purchases of assets per your instructions. Accounting records will also be maintained for the account. 

Special Needs Trust

A special needs trust is a legal arrangement and fiduciary relationship that allows a physically or mentally disabled or chronically ill person to receive income without reducing their eligibility for benefits. When appointed Trustee, Peoples Security Bank & Trust will serve in a fiduciary capacity, exercising full discretion in asset management and other trust-related issues.

 

 

Investment Management & Trust Services Team

 Our team of professionals has years of experience in financial services. We can help you address your needs for today and for many years to come. We look forward to working with you. To reach our team, email wealth@psbt.com.

 

 

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Investment

Cassidy Thomas

Thomas C. Cassidy III, CFP®®

Trust Services Manager
SVP
Chief Investment Officer

phone | 570-346-7741 x1606

150 North Washington Avenue
Scranton, PA 18503

Tom is responsible for managing and directing the investment process in the bank’s Wealth Management Group - Investment Management & Trust Services Division.

This includes the coordination of the investment philosophy, strategies and resources with the needs and objectives of a wide range of institutional and individual customers.

Tom has more than 25 years of experience in the financial services industry. Prior to joining Peoples Security, Tom served as the Chief Investment Officer for Univest’s Wealth Management Division and worked as an investment management consultant and manager for PricewaterhouseCoopers.

He earned a B.S.B.A. degree in finance from Shippensburg University. He also holds the designation of Certified Financial Planner.

Carl Pettinato

Carl J. Pettinato

Vice President
Investment Officer

phone | 570-346-7741 x2204

150 North Washington Avenue
Scranton, PA 18503

Carl is responsible for the management of portfolios within the Wealth Management Group – Investment Management & Trust Services Division. He currently works with individual and institutional clients by creating, managing and protecting their wealth in accordance their goals and objectives through the use of various financial planning tools. He has been with the firm since 2007 and brings with him over 20 years of experience in the industry.

He holds a Bachelor of Science in Business Administration and a Masters of Business Administration in Finance from Marywood University. He is active in the community, having served on various committees such as Bread Basket of NEPA and the Susan Komen Foundation - Scranton’s Race for the Cure.

Melissa Ciero

Melissa Ciero

Administrative Assistant

phone | 570-346-7741 x2225

150 North Washington Avenue
Scranton, PA 18503

Melissa serves as Administrative Assistant to our Department. She joined the bank in 1997 and has been with the Wealth Management Division since 2014.

Melissa is responsible for answering and directing phone calls, responding to general inquiries, organizing and scheduling appointments, maintaining contact lists and acting as a liaison between our Directors Trust Committee and our Officers.

 

Trust Administration & Relationship Management

Carol McMullen

Carol C. McMullen

Vice President
Trust Officer
Relationship Manager

phone | 570- 346-7741 x2202

150 North Washington Avenue
Scranton, PA 18503

Carol is responsible for the administration of personal trust and estate services and foundation/endowment account relationships. She also acts as Relationship Manager on Investment Management accounts. She has been with the bank since 1978 joining the Trust Department in 1982. She brings with her over 30 years of trust banking experience in the Northeastern Pennsylvania market.

Carol is a graduate of Marywood University, holds an MBA in Finance from the University of Scranton, and is a graduate of the PBA Trust School and the ABA National Trust School at Northwestern University. She holds a Certified Trust and Financial Advisor designation from the American Bankers Association/Institute of Certified Bankers.

She is active in the community, currently serving on the Boards of The Choral Society of NEPA; the Isaiah F. Everhart Museum of Natural Science, History, and Art; Scranton’s First Friday Art Walk; and is a member of the finance committee of St. Luke’s Episcopal Church, Scranton and serves on the Standing Committee of the Episcopal Diocese of Bethlehem. She is a member of the 8-voice professional a cappella ensemble, The Lyric Consort, and performs with the symphonic chorus of The Choral Society of NEPA.

Kristen Noll

Kristen R. Noll

Vice President
Trust Officer
Relationship Manager
CIS

phone | 570-346-7741 x2206

150 North Washington Avenue
Scranton, PA 18503

Kristen is responsible for the administration of personal trust and estate services and serves as the Relationship Manager on Investment Management Accounts. She joined Penn Security Bank & Trust Company in 1998 and has been with the Trust Department since 2001.

Kristen holds a Bachelor of Science Degree in Accounting/Taxation from Keystone College and a Masters of Business Administration with a concentration in Finance and Investments from Marywood University. She is a graduate of the Pennsylvania Bankers Association Central Atlantic School of Trust and Investment Management and recently received her designation as a Certified IRA Specialist.

She has been active in the community throughout her career. She has served on the boards for First Night Scranton, Corporate Fiduciaries Inc., Scranton Civic Ballet, Santa Parade Inc., Leadership Lackawanna and Bread Basket of NEPA. She currently serves on the Board of Trustees of Lackawanna Industrial Fund Enterprises (LIFE) for the Greater Scranton Chamber of Commerce, is on the Selection Committee for the Clements Educational Scholarship Fund and is also on the Perkins Grant Stakeholder Committee at Lackawanna College.

 

Operations

Carla Olenchack

Carla Olenchak

Vice President
Trust Operations Manager

phone | 570-346-7741 x2226

150 North Washington Avenue
Scranton, PA 18503

Carla is responsible for the control and direction of all daily Trust Operation functions. She joined Peoples Security Bank & Trust Company in 2005 and has been with the Wealth Management Group since 2006.

Carla is responsible for maintaining Trust Records, account cash ledgers and department cash ledgers and operates and monitors the trust accounting system. She is responsible for implementing strategies to achieve goals developed for the department as part of the bank’s annual operating plan and ensuring the department’s compliance with operating policies and procedures and outside regulatory requirements.

Lorraine Shaffer

Lorraine Shaffer

Trust Operations Specialist

phone | 570-346-7741 x2205

150 North Washington Avenue
Scranton, PA 18503

Lorraine serves as a backup to the Trust Operations Manager. She joined the bank in 1988 and has been with the Wealth Management Division since 2006.

Lorraine is responsible for preparing securities for transfer and sale through local brokers, performing daily maintenance and fee monitoring, entering receipts, disbursement and asset changes to accounts and verifying securities sent and received through DTC (Bank of New York).

She is a graduate of Penn State University.

Trustee services only offered in the state of Pennsylvania.

Peoples Security Wealth Management Group is a trade name under Peoples Security Bank and Trust Company.

Not insured by FDIC or any other government agency

Not Bank guaranteed

Not Bank deposits or obligations

May lose value