A recently launched bank serving the Korean-American community has boosted its wealth management capabilities.

Los Angeles-headquartered Bank of Hope has joined Cetera Financial Group’s institutional services platform, with the aim of enhancing its wealth management program and building up its team of financial advisors.

Cetera Financial Institutions, which is specifically focused on serving the wealth management programs of banks and credit unions, helps firms expand their financial offerings through a range of services and back-office support.

Bank of Hope was formed in July 2016 through the merger of BBCN Bank and Wilshire Bank, both of which served the Korean-American community. Bank of Hope has over $13 billion in assets, with more than 80 branches across the country. Its wealth management program has almost $55 million in investment assets under management, including $30 million of client advisory assets, as of September 30, 2016.

The program includes investment and wealth management services for affluent and high net worth clients, as well as retirement, estate and business succession planning services for individuals and institutions.

"Bank of Hope is focused on significantly building up its wealth management program, to become a truly open-architecture provider of comprehensive investment services to our community. We look to Cetera and its broad platform of investment solutions to help Bank of Hope become a superior provider of wealth management services and we look forward to their close attention and support in helping us succeed," said Clem Shin, senior vice president, head of Hope Wealth Management.

"We are also enthusiastic about their partnership in helping us to identify appropriate new advisor candidates for our regions of greatest concentration, including the West Coast, Washington, New York, New Jersey, and the Chicago area."

The bank is looking to build its small team of two advisors to six over the near term and to 15 to 20 advisors over the next five years.