ICBA Taps Investment Centers of America as Preferred Retail Brokerage Program Service Provider [Professional Services Close – Up]

The Independent Community Bankers of America (ICBA) announced that it has selected Investment Centers of America, Inc. (ICA) as the Preferred Service Provider (PSP) for retail brokerage services.

The Company said the new agreement will provide ICBA members with access to a full menu of financial planning solutions and integration resources designed to enhance customer relationships and grow non-interest revenue. ICBA member banks will also receive special membership incentives when they work with ICA.

"ICA's client-centric, needs-based approach to helping community banks build and enhance retail brokerage and financial planning programs benefits our members by helping them continue to serve their customers and focus on relationship banking, which is something they are already well-known for," said Dan Clancy, executive vice president of services for ICBA.

ICA has a track record of helping community banks build, redefine and improve retail brokerage programs. The firm services more than 250 financial institutions nationwide, providing a solution set specifically designed for the community bank marketplace. ICA's retail brokerage program features an open architecture product menu, scalable web-based technology that incorporates paperless office capability - including imaging, electronic order entry and eSignature capture - and WealthONE, a proprietary fee-based platform.

Greg Vetter, chief operating officer of American Bank Center values their relationship. "Our work with ICA has been very successful and constantly evolves to meet the needs of our customer base and organization. As a $900 million plus organization with a trust department and full-service insurance agency, the needs-based planning approach of the ICA Financial Advisors has integrated very well with our other business lines.

"Having an in-house brokerage program has had a tremendous impact on our overall ability to develop and retain profitable customer relationships." The brokerage program at American Bank Center currently has seven full-time financial advisors with combined production approaching $3 million annually. Vetter continued, "ICA understands the community bank marketplace and is a great choice as a Preferred Service Provider for the ICBA."

"It is a privilege to serve as a Preferred Service Provider for the ICBA membership," said Greg Gunderson, president/chief executive officer of Investment Centers of America, Inc. "Community banks have a unique opportunity to grow market share in the financial planning arena by virtue of the long-standing and trusted relationships they've built with their customers. At ICA, our mission is to support these banks as they enhance their offerings, and do it in a way that is customer and community focused."

Independent Community Bankers of America:

icba.org

Investment Centers of America:

joinica.com

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