IAB Financial Bank has selected Cetera Financial Institutions as its new broker-dealer, Cetera announced today.
Under the agreement, Cetera will provide the Fort Wayne, Ind.-based community bank with wealth management services, solutions and support.
IAB Financial Banks wealth management program is 20 years old, has $225 million in assets under management and employs four advisors. The program was previously with third-party marketing firm ICA.
We were looking for a broker-dealer that deals primarily with banks and financial institutions, Joseph Byers, the programs 10-year manager, said in a telephone interview. Byers also noted that Cetera would provide the program with more focused advertising and marketing support.
IAB Financial Bank has nearly $1 billion in assets and serves more than 25,000 customers from 17 branch offices throughout northeast Indiana.
Were excited to help Joseph and his team develop a successful new program, Ceteras president and CEO Catherine Bonneau said in a statement. Creating the right cultural fit is extremely important in the financial institution channel and well bring that tailored fit to iAB.