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Ameriprise Financial, the New York-listed group, has announced that The State Bank, an independently-owned bank based in Michigan with more than $1.75 billion in assets, has transitioned its investment program to the Ameriprise Financial Institution Group from Cetera Financial Group.
The bank’s investment program, which operates under the name The State Wealth Advisors, includes a team of six financial advisors who help clients manage over $154 million in combined brokerage assets across 20 locations in Michigan.
“Ameriprise offers a robust, flexible technology platform and comprehensive financial solutions, which will help our advisors provide an even greater experience to the families, businesses and communities they serve,” Ronald Justice, president and chief executive of The State Bank, said.
The State Wealth Advisors is led by program manager Tom Hufton, vice president of wealth management and trust services at The State Bank. The team also includes financial advisors Luke Yocom, Sal Vanadia, Richard Clark, Chase Kallen, Dennis Richardson and client service associate Linda Weinberg.
The bank was founded in 1898 and operates in 20 offices in Bay, Genesee, Ingham, Jackson, Livingston, Oakland, Saginaw, and Shiawassee counties.