Luke Murphy has been named managing director for investment services for the Martha’s Vineyard Financial Group, the group announced.

Mr. Murphy has extensive experience in wealth management and close ties to the Island and the Cape. For 13 years he was director of marketing, business development and client relations at a Boston-based registered investment advisory (RIA) specializing in institutional and family-based wealth. He attended Barnstable High School and graduated from Connecticut College, and has a home on the Cape.

The financial group is the wealth management division of the Martha’s Vineyard Savings Bank. James Anthony is the president and chief executive officer of both institutions.