Flushing Bank is to move its retail wealth management program to the Cetera Financial Institutions platform.
Flushing Bank is a Uniondale, NY-based bank serving consumers, businesses, professionals, corporate clients, and public entities through its 19 banking offices located in Queens, Brooklyn, Manhattan, and Nassau County, New York. Cetera Financial Institutions is the Cetera firm specifically focused on serving the wealth management programs of banks and credit unions.
Encompassing nearly 20 financial professionals, Flushing Bank’s wealth management program focuses on providing financial planning, retirement, insurance and investment management services to a diverse retail client base, with a particular focus on Millennial retail investors. The program, which was established 20 years ago, today supports approximately USD225 million in client brokerage assets.
LeAnn Rummel, President of Cetera Financial Institutions, says: “We are delighted to welcome Flushing Bank to our platform, and we look forward to working with their talented team to support the growth of their retail wealth management business, with a particular emphasis on growing the wealth management program’s share of wallet across their existing client base. We’re particularly excited about Flushing Bank’s enthusiasm for Cetera’s advice-centric experience model, as we believe the bank’s embrace of this vision for the future of wealth management, combined with our ability to fully support their technology-focused approach to growth, make this an ideal strategic relationship.”
John R Buran, President and Chief Executive Officer of Flushing Bank, says: “We’re excited to begin working with Cetera Financial Institutions later this fall to grow our retail wealth management program. We were attracted to Cetera because of their deep understanding of financial institutions’ role in the wealth management space, and their technology-driven tools. Cetera Financial Institutions offers many advantages that will be increasingly critical to our business in the new fiduciary era our industry has entered, and the new growth opportunities it presents.”