Cetera scores $400M win with Hawaii credit union alliance

Cetera scores $400M win with Hawaii credit union alliance
The broker-dealer says it will provide ‘innovative solutions and services’ to the credit union.
MAR 05, 2024

Cetera is making its mark in the Aloha State. A new strategic partnership between Cetera Financial Group and Hawaii State Federal Credit Union announced Tuesday has secured a sizable book of retail business for the national wealth firm.

Cetera will support Hawaii’s largest credit union as it grows its retail investment program and enhances services for its vast membership.

“We are proud to welcome Hawaii State Federal Credit Union to the Cetera family,” CEO Investment Services president LeAnn Rummel said in a statement, highlighting the firm’s capability to “[provide] innovative solutions and services to members and a higher level of support for Hawaii State Federal Credit Union financial professionals.”

The Hawaii State Federal Credit Union, founded in 1936, has since grown to include more than 126,000 members. As of January 31, its investment services program held approximately $393 million in assets.

“As we continue to provide an exceptional experience to our valued members and local community, this collaboration will empower the delivery of holistic financial planning services powered by Cetera's industry-leading technology, resources and support,” said David Kimura, program manager at Hawaii State Federal Credit Union.

Cetera’s collaboration with the credit union comes shortly after it unveiled another partnership with Wealth Access, which promised to give Cetera advisors a more complete, up-to-date picture of their clients’ finances across several areas including, brokerage, trust, and digital banking channels.

Recently, the firm also announced a guarantee for new advisor and firm affiliates to its GrowthLine Program, promising to refund their affiliation fees if their assets under administration doesn’t reach a certain growth rate.

Muni bonds terrific this tax season, says Western Asset strategist

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave