ST. CLOUD, Minn., July 6, 2015 /PRNewswire/ -- Cetera Financial Institutions, a firm within Cetera Financial Group®, the retail advice platform of RCS Capital Corporation (NYSE: RCAP), that provides customized investment solutions to nearly 500 financial institutions nationwide, announced today that it will provide broker-dealer services and solutions to the wealth management programs of Valley National Bank, one of the largest commercial banks headquartered in New Jersey.
Valley National Bank ("Valley"), the principal subsidiary of Valley National Bancorp, headquartered in Wayne, NJ, with over $19 billion in total assets, operates 224 branch locations serving northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn, Queens and Long Island, and southeast and central Florida. Valley's wealth management programs offer personal financial planning and investment services to retail investors, as well as retirement planning and trust and estate services for their high-net worth clients.
Catherine Bonneau, President and Chief Executive Officer of Cetera Financial Institutions, said: "We are delighted to welcome Valley National Bank to our institutional services platform. We look forward to helping them realize their vision of substantially expanding the reach and scope of their wealth management programs. We are eager to provide our broad array of investment products and our comprehensive services specifically dedicated to bank and credit union wealth management programs, which include: marketing assistance, our newly enhanced technology capabilities, and assistance with recruiting a corps of new financial advisors to their business."
Anthony Bruno, Valley's President of Wealth Management and Insurance Services, said: "We are very enthusiastic about working with Cetera Financial Institutions. We will benefit from their extensive experience in helping financial institutions build wealth management programs and recruit financial advisors of outstanding caliber who are attracted to the many benefits of working in the financial institutions channel."
"For an institution of our size, Valley envisions achieving considerable growth in our wealth management programs to generate new revenue and fee income. We believe we can gain greater share of our retail and high net-worth customers' business by providing expanded wealth management services, a broader array of investment products, and an overall better client experience. We look forward to rolling out increased capabilities in several of our branches near term before making these enhancements available across our organization," Mr. Bruno concluded.
About Valley National Bancorp
Valley National Bancorp is a regional bank holding company headquartered in Wayne, New Jersey, with over $19 billion in assets. Its principal subsidiary, Valley National Bank, currently operates 224 branch locations serving 24 counties throughout northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn, Queens and Long Island, and southeast and central Florida. Valley National Bank is one of the largest commercial banks headquartered in New Jersey and is committed to providing the most convenient service, the latest in product innovations and an experienced and knowledgeable staff with a high priority on friendly customer service 24 hours a day, 7 days a week. For more information about Valley National Bank and its products and services, please visit www.valleynationalbank.com or call our 24/7 Customer Service Center at 800-522-4100.
About Cetera Financial Institutions
Cetera Financial Institutions is the marketing name of Cetera Investment Services LLC, a self-clearing registered broker-dealer that delivers customized investment and insurance solutions to nearly 500 financial institutions nationwide. Cetera Financial Institutions helps institutions expand their financial offerings, which allows clients to pursue their financial goals through a holistic approach while delivering sound and strong financial solutions. Through Cetera Investment Advisers LLC, an SEC registered investment adviser firm, financial advisors receive a wide array of solutions and back-office support, so that they can focus on their clients.
Cetera Investment Services LLC and Cetera Investment Advisers LLC are part of Cetera Financial Group®, the retail advice platform of RCS Capital Corporation (NYSE: RCAP), which provides wealth management and advisory platforms and innovative technology to approximately 9,500 independent financial advisors nationwide. Cetera Investment Services is a member of the Securities Investor Protection Corporation (SIPC) and the Financial Industry Regulatory Authority (FINRA). For more information, see www.ceterafinancialinstitutions.com.
About Cetera Financial Group
Cetera Financial Group® is the retail investment advice platform of RCS Capital Corporation (NYSE: RCAP). It is comprised of eleven firms – four legacy Cetera-branded firms (Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services, marketed as Cetera Financial Institutions, and Cetera Financial Specialists) along with First Allied Securities, Investors Capital, J.P. Turner and Company, The Legend Group, Summit Brokerage and recently acquired VSR Financial Services and Girard Securities. The platform is the second largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions. Cetera Financial Group® delivers award-winning wealth management and advisory platforms, comprehensive broker-dealer and registered investment adviser services, and innovative technology to approximately 9,500 independent financial professionals and over 600 financial institutions nationwide. Through its distinct firms, Cetera Financial Group® offers the benefits of a large, established broker-dealer and registered investment adviser, while serving independent and institutions-based financial advisors in a way that is customized to their unique needs and aspirations. Cetera Financial Group® is committed to helping advisors grow their businesses and strengthen their relationships with clients. For more information, visit www.ceterafinancialgroup.com.
About RCS Capital
RCS Capital Corporation (NYSE: RCAP) is a full-service investment firm expressly focused on the individual retail investor. With operating subsidiaries including retail advice services, wholesale distribution, investment banking, capital markets, investment research, investment management and crowdfunding, RCS Capital's business is designed to capitalize, support, grow and maximize value for the investment programs it distributes and the independent advisors and clients it serves. Additional information about RCS Capital can be found on its website at www.rcscapital.com. RCS Capital may disseminate information about itself, including the results of its operations and financial information, via social media platforms such as Facebook, LinkedIn and Twitter.
The statements in this press release include statements regarding the intent, belief or current expectations of Cetera Financial Group and members of its management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should," "look forward" or similar expressions. Actual results may differ materially from those contemplated by such forward-looking statements due to certain factors. Additional factors that may affect future results are contained in RCS Capital's filings with the SEC, which are available at the SEC's website at www.sec.gov. Further, forward-looking statements speak only as of the date they are made, and none of Cetera Financial Institutions, Cetera Financial Group® or RCS Capital undertakes any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.
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SOURCE Cetera Financial Institutions