The agreement will enable Regions Bank customers to have access to a full range of financial advisory services, including managed accounts, mutual funds, annuities, insurance, financial and retirement planning tools, provided by licensed financial consultants based in Regions Bank branches.
Jim Nonnengard, executive vice president of Regions Investment Services said: "Today more than 4 million individuals and families depend on Regions to provide a better banking experience and help them manage their financial lives. Choosing PrimeVest allows Regions to expedite our investment offerings for mass market customers and deliver financial planning services under the Regions brand that our customers know and trust."
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"By working with PrimeVest, they can focus on building a high-performance, service-oriented team while leaving the broker-dealer operations to us. This is a tremendous opportunity to combine our dedicated focus on financial institutions with the impressive scale and expertise at Regions. We’re looking forward to building a great program together," added PrimeVest president and CEO Catherine Bonneau.
PrimeVest has more than US$24 billion in total client assets and serves banks and credit unions as part of Cetera Financial Group. Around 500 financial institutions across the US work with PrimeVest to deliver investment, insurance and advisory solutions to their clients.
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