Regions Bank Signs Agreement with PrimeVest to Offer Financial Advisory and Investment Services through Regions Bank Branches
BIRMINGHAM, Ala.--(BUSINESS WIRE)-- Regions Bank and PrimeVest Financial Services today announced an agreement for PrimeVest to provide advisory and investment solutions, along with comprehensive support, to Regions customers throughout the 16 states Regions serves.
Jim Nonnengard, executive vice president, Regions Investment Services (Photo: Business Wire)
Through the bank's agreement with PrimeVest, Regions Bank customers will 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.
"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," said Jim Nonnengard, executive vice president of Regions Investment Services, a division of Regions Wealth Management dedicated to providing investing, retirement and income planning solutions to the mass market and mass affluent customer segments. "PrimeVest has a proven track record of helping banks create customized programs to meet the needs of their customers and we are pleased to partner with them to offer Regions customers access to comprehensive financial planning, investment and insurance services through our extensive branch network."
With more than $24 billion in total client assets, PrimeVest serves banks and credit unions as part of Cetera Financial Group, one of the nation's largest independent broker-dealer/registered investment adviser families. Approximately 500 financial institutions across the United States work with PrimeVest to deliver investment, insurance and advisory solutions to their clients.
"Regions is uniquely positioned to create the program of the future and be customers' trusted financial guide," said PrimeVest President and CEO Catherine Bonneau. "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."
The PrimeVest program at Regions Bank will be built to fit Regions' unique culture and private labeled under the Regions Investment Solutions brand. Regions will begin a phased implementation of the new program in select Regions Bank branches beginning in 2013 and is actively recruiting financial consultants. Regions Investment Solutions job openings for financial consultants will be posted on PrimeVest's career opportunities website in the coming weeks.
About PrimeVest Financial Services
PrimeVest Financial Services Inc. is a self-clearing, registered broker-dealer and RIA firm that delivers customized investment and insurance solutions to 500 financial institutions. With its focus exclusively on banks and credit unions, PrimeVest offers flexible program options that helps deepen relationships with clients, grow fee income and fulfill financial institution goals. PrimeVest is a member of Cetera Financial Group, which provides leading wealth management and advisory platforms and innovative technology for more than 6,500 independent financial professionals nationwide. On Dec. 1, 2012, PrimeVest will be changing its name to Cetera Financial Institutions, a marketing name for Cetera Investment Services LLC.
PrimeVest is a member of the Depository Trust and Clearing Corporation (DTCC), the Securities Investors Protection Corporation (SIPC), and the Financial Industry Regulatory Authority (FINRA). For more information, see www.primevest.com. Investment products are *Not FDIC/NCUSIF insured *May lose value *Not financial institution guaranteed *Not a deposit *Not insured by any federal government authority.
About Regions Financial Corporation
Regions Financial Corporation (NYS: RF) , with $122 billion in assets, is a member of the S&P 500 Index and is one of the nation's largest full-service providers of consumer and commercial banking, wealth management, mortgage, and insurance products and services. Regions serves customers in 16 states across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,700 banking offices and 2,000 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.
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KEYWORDS: United States North America Alabama
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