Alma Bank and Cetera Forge Strategic Partnership to Enhance Wealth Management Services

Alma Bank Partners with Cetera for Enhanced Growth

Alma Bank is embarking on a significant journey to elevate its investment services by collaborating with Cetera Financial Institutions. This partnership aims to enhance Alma Wealth Management (AWM), the bank's existing investment program, enabling it to provide more tailored financial strategies to its diverse clientele.

On September 15, 2025, the partnership was officially announced, with financial professional Richard J. Koll stepping in as the head of AWM. Bringing years of experience, Koll's previous roles include Senior Vice President of Client Experience at Osaic Institutions. He not only significantly contributed to enhancing their wealth program but also initially collaborated with Cetera when he was at Investors Bancorp, highlighting the synergy between them and reinforcing the trust in Cetera's capabilities.

Koll expressed his admiration for Cetera's service model and operational adaptability, making it a fitting choice for Alma Bank's advancement. He stated, "I've always been impressed by Cetera's deep understanding of how to serve financial institutions. Right from the start, their hands-on support and direct engagement from senior leadership made it clear – this is the right financial institution networking partner to help Alma Wealth Management scale and serve clients on our terms."

This partnership is expected to facilitate the growth ambitions of Alma Bank, as stated by its President and CEO Michael P. Psyllos. He remarked, "We are so pleased to be working with Cetera and believe that this enhanced offering will help Alma Bank with our overall growth strategy." Founded in 2007, Alma Bank prides itself on providing customized financial solutions across the New York metropolitan area, characterized by a commitment to personalized, client-focused service.

Cetera Financial Institutions stands out in the financial services landscape by supporting investment programs for over 450 banks and credit unions, showcasing a remarkable retention rate of 99 percent. In celebrating its 40th anniversary in 2024, its dedication to building an inclusive financial community is evident.

"When top-tier professionals like Rich Koll choose Cetera, that's a powerful endorsement of our approach," noted LeAnn Rummel, the president and CEO of Cetera Investment Services. She stressed Cetera's commitment to supporting Alma Bank through essential tools, resources, and technology to drive growth and deliver exceptional client experiences.

Cetera's unique position in the market as a premier financial advisor Wealth Hub empowers independent advisors and institutions with considerable flexibility. With a network of approximately 12,000 advisors managing over 590 billion dollars in assets, it blends modern technology with a community-driven culture, allowing for scalable business growth. Its commitment to advisor value and industry recognition is reflected in a remarkable satisfaction score of 4.8 out of 5 based on comprehensive advisor feedback.

As Alma Bank and Cetera join forces, the financial services landscape is set to witness significant enhancements in client service offerings, which could set new benchmarks in the realm of wealth management. This collaboration not only underscores the potential for growth but also highlights the importance of strategic alliances in navigating the complexities of the financial world efficiently.

For further information, one can explore Cetera's multifaceted offerings on their official website or engage with them on their social media platforms. This initiative marks a new chapter in Alma Bank’s journey to redefine wealth management for its clients, painting a promising picture for the future of community banking infused with robust investment services.