Valley National Bank, one of the largest commercial banks in New Jersey, has switched its third-party broker dealer to Cetera Financial Institutions after a seven-year stint with another provider, Cetera announced on Monday.

Valley National chose Cetera over other rivals because it believed the firm could best help the bank expand its service offerings into the mass-affluent market. Valley National has traditionally included wealth management services for high-net-worth individuals and needed assistance with building a mass-affluent distribution for alternative investments, Cetera said.

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