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Promark History

Promark HistoryDeregulation in the late 1980's was the catalyst for massive change in the financial service industry. Banks no longer had the advantage over mutual funds, insurance companies, or stock brokers. All financial institutions had an open invitation to compete on a level playing field. The expansion of technology was creating an aggressive industry that focused on acquiring only high net worth clients. No competitive differentiation existed and anyone outside the high-end market was overlooked. The focus was on the wealthiest clientele and how to acquire them.

In 1988, Promark came onto the scene with a new and innovative way to do business in the financial market. Instead of targeting the high end clientele, Promark catered to the needs of the middle market by providing the same service and aid that high end clientele would receive to a client base who had never had such service.

As Promark Financial grew by servicing the middle market, they made the decision to expand their client base to include other parts of the mass market that had been neglected. One group, aptly named the baby boomers, is the wealthiest group to enter pre-retirement and retirement years. They had been neglected by the financial service industry because of its focus on reaching only the newest and most successful clients. This was seen as a massive opportunity for Promark to once again serve those who were under-served.

Promark also found a unique way to reach other groups and demographics that were being overlooked. Two key groups are the Hispanic and Asian markets. The economic impact that these two groups have on the market will significantly change the landscape of the financial service industry. Promark is proud to be one of the first to provide services and aid to these new and growing markets.
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