Cetera Financial Group and Cetera Financial Institutions Announces New Affiliation with Investors Bank
Investors Bank Forms Strategic Alliance with Cetera Financial Institutions to Drive Growth of Retail Wealth Management Program with $700 million in Total Assets
Los Angeles, CA – Cetera Financial Group® ("Cetera" or "the Company")*, a leading network of independent firms supporting the delivery of professional financial advice, and Cetera Financial Institutions today announced that Investors Bank will move its retail wealth management program to the Cetera Financial Institutions platform. Investors Bank, a subsidiary of Investors Bancorp, Inc., is a Short Hills, NJ-based bank serving consumers, businesses, corporate clients and public entities through its branches in New Jersey and New York, with total assets at $24.78 billion. Cetera Financial Institutions is the Cetera firm specifically focused on serving the wealth management programs of banks and credit unions.
Encompassing 22 financial professionals and over 65 licensed bankers working across all of its branches, Investors Bank’s “Investors Financial” retail investment program focuses on providing financial planning, retirement, insurance and investment management services to a diverse retail client base. The program, which was established in 2011, today supports approximately $700 million in assets under administration, and has a particular focus on serving mass affluent and high net worth retail investors, as well as company retirement plans for businesses of all sizes.
LeAnn Rummel, President of Cetera Financial Institutions, said, “We're excited to welcome Investors Bank to our platform, and to support the next stage of growth for its retail wealth management business. Like many financial institutions seeking wealth management-driven growth, Investors Bank has chosen to affiliate with Cetera Financial Institutions because of our focus on supporting bank and credit union-based investment programs, our world class technology resources and our delivery of an Advice-Centric Experience® to reshape the future of our industry. We're privileged to support Investors Bank and hundreds of other growth-oriented bank and credit union programs across the country."
Richard Koll, Senior Vice President of Wealth Management & Insurance for Investors Financial, said, “From the onset of our search for a new broker-dealer, we were extremely impressed with Cetera Financial Institutions because of its deep understanding of the important role financial institutions play in delivering wealth management services to its clients. The firm's singular focus on helping banks and credit unions, combined with the high quality of its technology platform and its proven track record of supporting the delivery of an exceptional service experience to advisors and their clients made this a very natural strategic alliance for our bank.”
Glenn Brodwater, President of Investors Financial said, “We're very excited about the prospect of working with Cetera Financial Institutions to help us grow our retail investment program. Now that we have entered the fiduciary era, it’s clear that Cetera has the scale, resources and expertise that will enable our investment program to not only meet the rapidly evolving expectations of retail investors, but keep pace with the constant flow of changes coursing through the financial services industry.”
About Cetera Financial Group®
Cetera Financial Group ("Cetera") is a leading network of independent firms empowering the delivery of professional financial advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions. Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions.
Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations. Advisor support resources offered through Cetera include award-winning wealth management and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology. For more information, visit cetera.com.
* "Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services (marketed as Cetera Financial Institutions), Cetera Financial Specialists, First Allied Securities, and Summit Brokerage Services. All firms are members FINRA/SIPC.
About Cetera Financial Institutions
Cetera Financial Institutions is a marketing name of Cetera Investment Services LLC, a self-clearing registered broker-dealer that delivers customized investment and insurance solutions to financial institutions nationwide. Cetera Investment Services helps institutions expand their financial offerings, which allows clients to pursue their financial goals through a holistic approach while delivering sound and strong financial solutions. Advisory services are offered through Cetera Investment Advisers LLC, an SEC registered investment adviser firm, where financial advisors receive a wide array of solutions and back-office support, so that they can focus on their clients.
Cetera Investment Services LLC and Cetera Investment Advisers LLC are members of Cetera Financial Group, which provides leading wealth management and advisory platforms and innovative technology to financial advisors and financial institutions nationwide. Cetera Investment Services is a member of the Depository Trust and Clearing Corporation (DTCC), the Securities Investor Protection Corporation (SIPC), and the Financial Industry Regulatory Authority (FINRA). For more information, see www.ceterafinancialinstitutions.com.
About Investors Bank
Investors Bank, headquartered in Short Hills, New Jersey, is a full-service community bank that has been serving customers since 1926. With over $24 billion in assets and a network of more than 150 retail branches, Investors Bank delivers personalized services and products tailored to the needs of its customers. Investors Bank’s banking services include complete deposit, loan and cash management products for consumers and businesses.
Investors Bank: Member FDIC and Equal Housing Lender.