Cetera Partners with Bank of Hawai’i for Its Investment, Insurance Unit
Cetera Financial Institutions, a division of Cetera Investment Services, has entered into a networking agreement with Bank of Hawai’i to provide broker-dealer services for its investment and insurance arm, Bankoh Investment Services, Inc. (BISI). The deal, expected to finalize later this year, will see BISI—currently managing about $2.5 billion in assets under administration—rebrand as Bankoh Advisors.
BISI, which has operated as its own broker-dealer since the early 1990s, aims to leverage Cetera’s expertise to stay ahead in the fast-evolving wealth management landscape while maintaining top-tier service for its clients.
Christopher Otto, president of BISI, emphasized the alignment, stating, “Cetera Financial Institutions is a natural fit for us as a broker-dealer partner. Not only do they have a unique channel structure catering to the specialized needs of a wealth management program, but we also have a shared mission of putting people first.”
This partnership reflects a broader trend of financial institutions outsourcing broker-dealer functions to enhance capabilities, mirroring the industry’s shift toward integrated platforms seen in moves like Flourish’s acquisition of Sora Finance today, all aimed at delivering comprehensive client solutions.
Cetera Financial Institutions supports over 450 banks and credit unions, offering tailored solutions for their investment programs.