Cetera Financial Institutions, part of the Cetera Financial Group of broker-dealers, says it has struck a deal with Investors Bank, which will move its $700 million retail wealth-management program onto its platform.
Investors Bank, a unit of Investors Bancorp, Inc., is based in Short Hills, New Jersey, and serves clients in the Garden State and New York. Its operations include 22 financial professionals and over 65 licensed bankers.
“We’re excited to welcome Investors Bank to our platform, and to support the next stage of growth for its retail wealth management business,” said LeAnn Rummel, president of Cetera Financial Institutions, in a statement. “We’re privileged to support Investors Bank and hundreds of other growth-oriented bank and credit union programs across the country.”
According to Richard Koll, senior vice president of Wealth Management & Insurance for Investors Financial, “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.”
“We’re very excited about the prospect of working with Cetera Financial Institutions to help us grow our retail investment program,” added Glenn Brodwater, president of Investors Financial, in a statement.