Wells Federal Bank of Wells, Minn., has tapped Cetera Financial Institutions to be its broker-dealer, Cetera announced today.
Cetera will provide the bank with wealth management services and support, including the investing tools clients need, the third-party broker-dealer said.
Wells Federal Bank has approximately $244 million in assets. It was founded in 1934 and has 10 bank locations throughout southern Minnesota and the Minnesota Valley Region.
Cetera Financial Institutions is a good fit for our bank, and were excited about the benefit our customers will receive with the investment products, services and support we can offer them through Cetera, Karen Erickson, the investment programs lead advisor, said in a statement. Ericksonhas been in the banking industry for many years, but became an advisor and launched the program at Wells Federal Bank in 1999.
The agreement between Cetera and Wells Federal Bank will give the banks clients access to a range of investments, insurance and wealth management services, according to Ceteras announcement.
Were excited to welcome Karen and help the program at Wells reach its potential, said Catherine Bonneau, president and CEO of Cetera. Our recent signees have set the bar high for out-of-the-gate performance, and were looking forward to continuing that trend at Wells.