Cetera Financial Group, a leading network of independent firms, and Cetera Financial Institutions 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, N.J.-based bank serving consumers, businesses, corporate clients and public entities through its branches in New Jersey and New York, and it has total bank 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.
Investors Bank’s “Investors Financial” retail investment program has 22 financial professionals and more than 65 licensed bankers working across all of its branches. It provides financial planning, retirement, insurance and investment management services to a diverse retail client base.
The program, established in 2011, supports approximately $700 million in client 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, the 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.”