128-year-old bank chooses Cetera Financial Institutions to scale and expand its $2.5 billion AUA investment services program
SAN DIEGO, March 18, 2025 /PRNewswire/ -- Cetera Financial Group, the premier financial advisor Wealth Hub, announced that Bank of Hawai'i has entered into a networking agreement with Cetera Financial Institutions to provide broker-dealer services for its investment services and insurance provider, Bankoh Investment Services, Inc. (BISI). The transaction is expected to be finalized later this year, at which time BISI will rebrand as Bankoh Advisors.
Wealth management clients can look forward to a modern experience with enhanced technology and additional resources to help them pursue their financial goals. The bank's investment services business will continue providing experienced, personalized financial advice locally in Hawai'i and will remain part of the broader financial services customers know and trust at Bank of Hawai'i.
BISI, with approximately $2.5 billion in assets under administration*, has operated as its own broker-dealer since its inception in the early 1990s. The decision to partner with Cetera was driven by a commitment to be at the forefront of a rapidly evolving wealth management industry and to continue providing exceptional investment services to BISI clients.
"Cetera Financial Institutions is a natural fit for us as a broker-dealer partner," said Christopher Otto, president of Bankoh Investment Services, Inc. "Not only do they have a unique channel structure catering to the specialized needs of a wealth management program, but we also have a shared mission of putting people first."
Cetera credits Bank of Hawai'i leaders for their commitment to choosing an ideal long-term partner for delivering efficient, technology-driven wealth management solutions to clients.
"Bank of Hawai'i is known for its personalized client support, and we're proud to welcome this people-first bank to Cetera," said LeAnn Rummel, president and CEO of Cetera Investment Services. "We are committed to providing the tools, technology and growth-driven expertise that makes Cetera such a desirable destination for banks and credit unions because we share their dedication to delivering comprehensive and client-centric financial planning, advice and wealth management services."
Cetera Financial Institutions is a community within Cetera Investment Services that supports the investment programs of over 450 banks and credit unions. Cetera Investment Services celebrated its 40-year anniversary in 2024, and with nearly 70 renewals signed through October 31, 2024, Cetera Financial Institutions' current retention rate is over 99 percent.
Click here for more information about Cetera Financial Institutions.
About Cetera
Cetera Financial Group, which is owned by Cetera Holdings (collectively, Cetera), is the premier financial advisor Wealth Hub where financial advisors and institutions optimize their control and value creation. Breaking away from a commoditized and homogenous IBD model, Cetera offers financial professionals and institutions the latest solutions, support, and services to grow, scale, or transition with a merger, sale, investment, or succession plan. Cetera proudly serves independent financial advisors, tax professionals, licensed administrators, large enterprises, as well as institutions, such as banks and credit unions, providing an established and repeatable blueprint for scalable growth.
Home to approximately 12,000 financial professionals and their teams, Cetera oversees more than $545 billion in assets under administration and $235 billion in assets under management, as of September 30, 2024. In a recent advisor satisfaction survey of nearly 35,000 reviews, Cetera's Voice of Customer (VoC) program vigorously measures advisor experience and satisfaction 24/7. Currently, it's ranked 4.8 out of 5 stars.
Visit www.cetera.com, and follow Cetera on LinkedIn, YouTube, X, and Facebook.
"Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Investment Advisers LLC, a registered investment adviser, and the following FINRA/SIPC members: Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), and Cetera Financial Specialists LLC. Located at: 655 W. Broadway, 11th Floor, San Diego, CA 92101.
Cetera is under separate ownership from any other entity.
*Value approximated based on asset holding details provided to Cetera as of Feb. 28, 2025.
Investments are: *Not FDIC/NCUSIF insured * May lose value * Not financial institution guaranteed * Not a deposit * Not insured by any federal government agency.
About Bank of Hawai'i
Bank of Hawai'i Corporation is a regional financial services company serving businesses, consumers and governments in Hawai'i and the West Pacific. The Company's principal subsidiary, Bank of Hawai'i, was founded in 1897 and offers customers branch, ATM network, convenient phone, online and mobile banking services. Bank of Hawai'i Corporation and its subsidiaries offer a wide range of financial products and services, including retail and commercial banking, investment services, wealth management, cash management, credit and debit cards, loans and leasing, estate and financial planning and international banking. Bank of Hawai'i also remains steadfast in its commitment to supporting the communities it serves. Additional information can be found at boh.com.
About Bankoh Investment Services, Inc.
Bankoh Investment Services, Inc. (BISI) is a full-service broker/dealer and investment advisor that offers a wide range of investment and insurance solutions, including managed accounts, mutual funds, annuities, life insurance, as well as financial planning services. BISI offers a dedicated team of financial professionals to help its clients invest, manage, and protect their money and reach their financial goals. Bankoh Investment Services, Inc., is a nonbank subsidiary of Bank of Hawai'i and is registered with the Securities and Exchange Commission (SEC) as both a broker-dealer and investment advisor and are members of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).
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SOURCE Cetera Financial Group
