Peoples Bank Partners with Cetera for Investment Program Growth
Peoples Bank and Trust is making a significant leap by collaborating with Cetera Financial Institutions to elevate its investment services program, Peoples Financial Management & Planning. This initiative is focused on enhancing client experiences and driving growth through strategic support and shared values.
Transitioning to a New Era of Financial Management
The move to Cetera from LPL Financial represents a bold step for Peoples Financial Management & Planning, which currently manages an impressive $120 million in assets under administration. This transition will be pivotal in leveraging Cetera's advanced technology and dedicated support, crucial for serving their community with greater efficacy.
Executive Director of Peoples Financial Management, Logan Schrag, emphasized the importance of this partnership by stating, "Our clients are at the heart of every decision we make." He highlighted the evident gap in support and responsiveness from their previous broker-dealer, which prompted the search for a partner that could match their dedication to high-quality service and growth. Schrag believes Cetera's commitment to excellence mirrors their own values, ensuring they provide top-tier service to clients.
Advantages of Partnering with Cetera
Schrag's thorough evaluation of several potential partners led to the conclusion that Cetera is best aligned with their ethos. The choice was driven by Cetera's keen focus on relationship-building and their support for community banks. Schrag expressed excitement about the new partnership, noting, "We're confident that our clients will experience exceptional care and expertise through Cetera, which aligns perfectly with our mission to serve our community."
Commitment to Growth and Excellence
LeAnn Rummel, President and CEO of Cetera Investment Services, welcomed Peoples Bank and Trust with enthusiasm, affirming their mission aligns closely. She expressed pride in their collaboration, recognizing that together they will advance the growth of Peoples Financial Management through holistic planning and deeper community engagement.
Cetera's Impact on Financial Institutions
Cetera Financial Institutions represents a vital sector of Cetera Investment Services, catering to over 450 banks and credit unions. The longevity and stability of Cetera are exemplified by their nearly 70 renewals in the past year, boasting a remarkable retention rate of 99%. This stability reflects their commitment to clients and remains crucial to their growth strategy.
Cetera Financial Group is renowned as a premier financial advisor hub, providing independent advisors and institutions with tailored support, adaptable affiliation models, and comprehensive growth solutions. This expansive network enables financial professionals to thrive, adapt, and transition on their terms, promoting a culture of success.
Future Outlook for Peoples Bank and Trust
With the assets managed above $590 billion and around $263 billion under management, Cetera is holding a significant position in the financial services industry. Their ongoing Voice of the Customer program, which gathers advisor feedback, showcases an impressive customer satisfaction rating of 4.8 out of 5.
Embracing Digital Transformation for Clients
Cetera integrates modern technology, wealth solutions, and community-oriented values, ensuring that both advisors and clients enjoy diverse growth opportunities. This philosophy is expected to further empower Peoples Financial Management as they leverage these resources to uncover innovative service opportunities for clients.
Frequently Asked Questions
What prompted Peoples Bank to partner with Cetera Financial?
Peoples Bank sought a partner that shared their values of excellence and responsiveness, prompting their transition from LPL to Cetera to enhance client service.
How much does Peoples Financial Management oversee?
Peoples Financial Management oversees approximately $120 million in assets under administration.
What are the main benefits of the partnership with Cetera?
The partnership offers access to advanced technology, personalized support, and an enhanced focus on client service.
What is Cetera's commitment to community banks?
Cetera is dedicated to supporting community banks by building strong relationships and providing the tools necessary for exceptional client service.
How has Cetera established its reputation in the industry?
Cetera has a high retention rate of 99% and boasts a customer satisfaction score of 4.8 out of 5, reflecting their commitment to quality service.
