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Colony Bank Launches Investment Program in Partnership with Ameriprise Financial
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Colony Bank has launched a new wealth management program in partnership with Ameriprise Financial, providing customized financial planning and investment services to its clients. The program, branded as Colony Financial Advisors, will leverage Ameriprise’s technology and resources to enhance customer experiences. With 37 locations in Georgia, the initiative aims to attract additional financial advisors and expand its client base, starting with the recruitment of Needham 'Bo' Hatcher, who manages nearly $100 million in assets.
Positive
Launch of Colony Financial Advisors to provide personalized financial services.
Partnership with Ameriprise enhances technology and advisor resources.
Target to recruit more financial advisors can drive growth.
Initial recruitment of advisor managing nearly $100 million in assets.
Negative
None.
New program provides bank customers with access to Ameriprise’s financial planning and investment capabilities
MINNEAPOLIS--(BUSINESS WIRE)--
Georgia-basedColony Bankrecently launched a new wealth management program withAmeriprise Financial (NYSE: AMP) as its broker-dealer. Following an extensive search, Colony selected the Ameriprise Financial Institutions Group (AFIG) to provide digitally-enabled, personalized financial advice and investment solutions to its customers. With 37 locations throughout Georgia, the bank will operate its wealth management program under the brand Colony Financial Advisors.
Colony Financial Advisors, with the help of Ameriprise, recruited financial advisor Needham “Bo” Hatcher, who manages nearly $100 million in client assets. (Photo: Business Wire)
“We were drawn to Ameriprise because of the firm’s enhanced technology and focus on providing financial advisors with the tools they need to be successful,” said Heath Fountain, President and CEO of Colony Bank. “Our commitment at Colony Bank has always been to deliver solutions that exceed our customers' expectations. We look forward to leveraging Ameriprise’s resources to grow our investment program by adding more financial advisors and customers while further elevating our customer experience.”
As a financial advisory practice of Ameriprise, Colony Financial Advisors creates personalized financial plans to help the bank’s customers reach their goals and manage their investments based on their unique needs. Customers have access to the following services from Ameriprise:
Personalized advice and financial plans that are tailored to their individual needs.
Robust investment solutions to help them achieve their financial goals.
Digital capabilities that allow members to connect with their advisors where and how they want – face-to-face, online, video or phone meetings.
“At Ameriprise we have a long history of helping people achieve their financial goals through our exceptional client experience – this is one of the reasons we’re the right partner for financial institutions like Colony Bank,” said Jay McAnelly, Group Vice President, AFIG. “We’re energized by the opportunity to help Colony Bank meet its customers’ growing needs by leveraging our advice expertise, leading technology, solid solutions and proven ability to attract talented advisors.”
In launching the new program, Colony Financial Advisors, with the help of Ameriprise, recruited financial advisor Needham “Bo” Hatcher, who manages nearly $100 million in client assets. Colony Financial Advisors plans to hire additional advisors to expand its wealth management program.
With more than 25 years1 serving the investment program needs of local banks and credit unions, Ameriprise Financial Institutions Group brings a depth of understanding, experience, and knowledge to the financial institution space – helping deliver value for clients/members while driving revenue for the affiliated institution. To find out why experienced financial advisors and institutions are joining Ameriprise, visit ameriprise.com/why.
About Colony Bankcorp
Colony Bankcorp, Inc. is the bank holding company for Colony Bank. Founded in 1975 and headquartered in Fitzgerald, Georgia, Colony operates 37 locations throughout Georgia. At Colony Bank, we offer a wide range of banking services including personal banking, business banking, mortgage solutions, government guaranteed lending solutions, and more. We have expanded our services to also include consumer insurance products, such as automotive, homeowners, and other insurance needs for our community. Colony’s common stock is traded on the NASDAQ Global Market under the symbol “CBAN.” For more information, please visit colony.bank. You can also follow the Company on social media.
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 advisors2, we have the strength and expertise to serve the full range of individual and institutional investors' financial needs.
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1Investment Professionals, Inc (IPI) was founded in 1992 and specialized in the on-site delivery of investment programs for financial institutions. Ameriprise Financial, Inc. acquired IPI in 2017, bringing together the years of experience of the two organizations.
2Ameriprise Financial Q2 2022 Earnings Release.
