IAB Financial Bank has selected Cetera Financial Institutions as its new broker-dealer, Cetera announced today.

Under the agreement, Cetera will provide the Fort Wayne, Ind.-based community bank with wealth management services, solutions and support.

IAB Financial Bank’s wealth management program is 20 years old, has $225 million in assets under management and employs four advisors. The program was previously with third-party marketing firm ICA.

“We were looking for a broker-dealer that deals primarily with banks and financial institutions,” Joseph Byers, the program’s 10-year manager, said in a telephone interview. Byers also noted that Cetera would provide the program with more focused advertising and marketing support.

IAB Financial Bank has nearly $1 billion in assets and serves more than 25,000 customers from 17 branch offices throughout northeast Indiana.

“We’re excited to help Joseph and his team develop a successful new program,” Cetera’s president and CEO Catherine Bonneau said in a statement. “Creating the right cultural fit is extremely important in the financial institution channel and we’ll bring that tailored fit to iAB.”

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