Alma Bank Enhances Wealth Management Through Cetera Partnership
In a strategic move to enhance its investment offerings, Alma Bank has forged a partnership with Cetera Financial Institutions. This partnership aims to invigorate the bank's investment program, known as Alma Wealth Management (AWM). The initiative is spearheaded by Richard J. Koll, a seasoned industry veteran who recently took the helm at AWM. His experience aligns well with the strategic objectives of this new collaboration.
Richard Koll's Vision for Alma Wealth Management
Bringing decades of experience from various financial institutions, Koll's primary focus is to elevate AWM's capabilities. His background includes notable roles such as Senior Vice President of Client Experience at Osaic Institutions and leadership over the wealth management division at Investors Bancorp. This diverse experience equips him to refine the financial strategies that AWM offers its clients.
Koll has emphasized the importance of partnered support and the operational flexibility offered by Cetera as pivotal factors that attracted him to this collaboration.
"The profound understanding that Cetera exhibits concerning the needs of financial institutions is impressive," Koll remarked. He noted, "From the onset, their proactive assistance and engagement from senior leadership reaffirmed that Cetera is indeed the preferred partner for AWM to achieve its growth objectives and effectively serve our clients."
Support from Alma Bank Leadership
Michael P. Psyllos, President and CEO of Alma Bank, expressed excitement regarding the partnership, stating, "We are thrilled to collaborate with Cetera, as we believe this robust offering will significantly contribute to our broader growth strategies against the backdrop of an evolving financial landscape."
The Legacy and Standards of Cetera Financial Institutions
Founded in 2007, Alma Bank has made a name for itself by providing tailored financial solutions, emphasizing personalized service to meet the unique needs of its clients. The bank's commitment is rooted deeply in delivering focused, client-centric experiences, extending its reach throughout the regional marketplace.
LeAnn Rummel, president and CEO of Cetera Investment Services, articulated enthusiasm over the partnership, remarking, "The decision by high-caliber professionals like Rich Koll to align with Cetera is a strong testament to our approach and capabilities. We are eager to equip Alma Bank with advanced tools, resources, and technology designed to nurture growth while enhancing the client experience."
Cetera Financial Institutions distinguishes itself as part of the broader Cetera Investment Services landscape, which supports over 450 banks and credit unions with comprehensive investment programs. Celebrating its 40-year legacy, Cetera boasts a remarkable retention rate of 99 percent for its institutional network, reflecting its commitment to service excellence.
Cetera’s Growth and Client Satisfaction
As of mid-2025, Cetera manages a staggering $590 billion in assets under administration, alongside $263 billion in assets under management. Their Voice of the Customer program has garnered impressive feedback, with over 40,000 reviews leading to a notable 4.8 out of 5 satisfaction score, underscoring Cetera’s dedication to client contentment.
About Cetera Financial Group
Cetera Financial Group stands as a premier Wealth Hub for financial advisors, equipping them with personalized support and flexible affiliation models. Home to around 12,000 advisors, Cetera nurtures a community-driven culture that empowers financial professionals to grow and adapt their businesses according to their unique visions and market demands.
Offering a blend of modern technology, integrated wealth solutions, and a focus on long-term advisor value, Cetera presents a scalable framework for success in the financial advisory field. This commitment is indicative of their overarching strategy to promote sustainable growth and relevance in a competitive market.
Frequently Asked Questions
What does the partnership between Alma Bank and Cetera entail?
The partnership focuses on enhancing the investment program at Alma Wealth Management, allowing for improved financial strategies tailored to client needs.
Who is leading Alma Wealth Management?
Richard J. Koll, a veteran in the financial services industry, is currently headlining the Alma Wealth Management initiative.
What experiences does Richard Koll bring to Alma Bank?
Koll has significant experience, having held leadership positions in client experience and wealth management at various institutions, including Osaic and Investors Bancorp.
How does Cetera support financial institutions?
Cetera offers a high-touch service model and operational flexibility, providing necessary resources and tools to financial institutions for maximizing growth and service quality.
What is the significance of Cetera’s retention rate?
Cetera's 99 percent retention rate illustrates its strong relationship with financial institutions, emphasizing its capacity to deliver quality service and support in the financial sector.
