MINNEAPOLIS--(BUSINESS WIRE)--Ameriprise Financial (NYSE: AMP) today announced that ESSA Bank & Trust has transitioned its investment management program, ESSA Investment Services, to Ameriprise Financial Institutions Group (AFIG). ESSA joins AFIG from Cetera. The Stroudsburg, PA-based bank employs three financial advisors who manage $218 million in brokerage assets. Through the new relationship, AFIG will support the financial advisors in providing ESSA clients with personalized advice and investment solutions. AFIG partners with community banks and credit unions to help their clients reach their financial goals.
“We’re excited that ESSA has selected Ameriprise as its broker-dealer partner and look forward to leveraging our expertise, digital capabilities and robust solutions to help them enhance their investment services,” said Jay McAnelly, Group Vice President, AFIG. “Ameriprise has helped millions of individuals, families and business owners reach their financial goals, and we look forward to working side-by-side with ESSA to do the same for its clients.”
AFIG will provide ESSA access to a full range of financial planning services and products including retirement, estate and college planning, brokerage accounts and investment products.
“We decided to move to Ameriprise because of its personalized approach to serving clients’ unique needs, robust resources, and solid reputation,” Peter A. Gray, Executive Vice President & Chief Banking Officer at ESSA Bank & Trust.
Ameriprise formed its Financial Institutions Group after acquiring Investment Professionals, Inc. (IPI) in 2017. Leveraging Ameriprise’s strength as a wealth manager and IPI’s expertise in serving the financial institutions market, the AFIG channel specializes in the on-site delivery of investment programs to banks and credit unions.
About Ameriprise Financial
At Ameriprise Financial, we have been helping people feel confident about their financial future for more than 125 years. With extensive advisory, asset management and insurance capabilities and a nationwide network of approximately 10,000 financial advisors, we have the strength and expertise to serve the full range of individual and institutional investors' financial needs. For more information, or to find an Ameriprise financial advisor, visit ameriprise.com.
About ESSA Bank & Trust
ESSA Bancorp, Inc. is the holding company for its wholly owned subsidiary, ESSA Bank & Trust, which was formed in 1916. Headquartered in Stroudsburg, Pennsylvania, the company has total assets of $1.9 billion and has 22 community offices throughout the Greater Pocono, Lehigh Valley, Scranton/Wilkes-Barre, and suburban Philadelphia areas. ESSA offers a full range of commercial and retail financial services as well as insurance, investment, and trust solutions. ESSA Bancorp Inc. stock trades on the NASDAQ Global Market (SM) under the symbol “ESSA.”
Not Federally Insured | No Financial Institution Guarantee | May Lose Value
Ameriprise Financial cannot guarantee future financial results.
Ameriprise Financial and the financial institution are not affiliated.
Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser.
Securities offered by Ameriprise Financial Services, LLC. Member FINRA and SIPC.
© 2020 Ameriprise Financial, Inc. All rights reserved.