LA Federal Credit Union: $160M AUA Move to Cetera
- Los Angeles Federal Credit Union (LAFCU) is moving its $160 million wealth management programme to Cetera Financial Institutions.
- Financial advisors Steven Liang and John Herrera are also making the transition to Cetera's platform. LAFCU serves more than 75,000 members in the Los Angeles area.
- LAFCU President and CEO Anthony Cuevas said Cetera's technology, flexible model, and focus on members drove the decision.
LA Federal Credit Union (LAFCU) has decisively moved its $160 million wealth management program to Cetera Financial Institutions. This strategic partnership enhances services for over 75,000 members in the Los Angeles area. This move, driven by CeteraS superior technology, adaptable model, and member-centric approach, is a meaningful shift. Financial advisors Steven Liang and John Herrera are also joining Cetera’s platform, solidifying the transition. Cetera’s proven success, with a 99% retention rate, demonstrates its commitment to credit unions. Discover this pivotal move-reported first by News Directory 3-to see how LAFCU will now customize its wealth management program with robust support. Discover what’s next for Cetera’s future.
Los Angeles FCU Shifts wealth management Platform to Cetera
Los Angeles Federal Credit Union (LAFCU) is moving its $160 million wealth management programme to Cetera Financial Institutions. The LAFCU wealth Management program previously operated on the CUSO Financial Services (CFS) platform, an LPL Financial affiliate.
Financial advisors Steven Liang and John Herrera are also making the transition to Cetera’s platform. LAFCU serves more than 75,000 members in the Los Angeles area.
LAFCU President and CEO Anthony Cuevas said Cetera’s technology, flexible model, and focus on members drove the decision. He added that the partnership allows LAFCU to customize its wealth management program with strong support.
The move is a win for Cetera, which has recently added Hawaii State FCU, California Coast CU, and Citadel CU as partners. Cetera Financial Institutions supports over 450 banks and credit unions and reports a 99% retention rate.
What’s next
Cetera aims to continue expanding its support for credit unions seeking to enhance their wealth management services, focusing on technology and client relationships.