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General News

Alma Bank Launches Alma Private Wealth, an Investment Program, in Partnership with Ameriprise Financial

June 10, 2024
Press Release

NEW YORK – New York-based Alma Bank (the Bank) announced the launch of Alma Private Wealth through a partnership with Ameriprise Financial. Alma Private Wealth, a financial advisory practice of Ameriprise Financial Services, LLC will offer the Bank’s customers investment solutions that complement existing products and services, and assist them in reaching their financial goals.

“Since Alma Bank was formed in 2007, it has prided itself on knowing its customers and delivering customized solutions for them, and we were drawn to Ameriprise Financial given their track record illustrated a similar approach.” said Michael P. Psyllos, President and Chief Executive Officer of Alma Bank. “Financial planning is a growing need of our clients, and we look forward to leveraging the resources of Ameriprise Financial to serve our clients. We are committed to grow Alma Private Wealth as we expand the footprint of Alma Bank.”

Headquartered in Long Island City, New York, Alma Bank serves consumers and businesses alike. Through Alma Private Wealth, Ameriprise Financial will provide the Bank’s clients access to a full range of leading services and solutions including:

• Personalized advice and financial planning solutions that are tailored to their individual needs.

• Robust investment solutions to help them achieve their financial goals.

• Digital capabilities that allow clients to connect with their advisors where and how they want – face-to-face, online, video or phone meetings.

“As a longstanding leader in financial planning and advice, we are incredibly excited to work with Alma Bank and provide our expertise, digital capabilities and solutions to its clients,” said Jay McAnelly, Group Vice President, Ameriprise Financial Institutions Group (AFIG). “Ameriprise Financial has helped millions of individuals, families and business owners achieve their financial goals, and we look forward to doing the same for Alma Bank’s clients.”

With more than 25 yearsi serving the investment program needs of local banks and credit unions, AFIG brings a depth of understanding, experience, and knowledge to the financial institution space – helping deliver value for clients. In a related event, Andrew Tsiolas has been appointed Alma Private Wealth Financial Advisor.

Mr. Tsiolas brings over 27 years of experience in financial services. His extensive knowledge and background will be invaluable to the success of Alma Private Wealth. Mr. Tsiolas will initially focus on the Bank’s four Queens locations and have an office at the Flushing branch.

“It’s outstanding to see the program attract a high caliber financial advisor like Andrew Tsiolas, just weeks after launching,” said Panos Stogioglou, the Bank’s Chief Banking Officer “We look forward to supporting more financial advisors as the Bank seeks to make more meaningful differences in our
clients’ lives.”

About Alma Bank
Founded in 2007, Alma Bank is a New York State chartered community bank with more than $1.4 billion in assets. Headquartered in Long Island City, New York, the Bank has 15 branches and offices located throughout New York City, Long Island, and Northern New Jersey. Alma Bank offers consumer and
commercial banking products and services to individuals and business owners within the communities it serves. The Alma Bank team prides itself on listening closely to its customers, identifying their needs, and then delivering customized, effective and personalized banking solutions.

Alma Bank has a partnership with Ameriprise Financial Services to provide financial planning services and solutions to our clients. Alma Bank is not an investment client of Ameriprise, but has a revenue sharing relationship with them that creates a conflict of interest.

About Ameriprise
Ameriprise Financial, has 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. Ameriprise Financial has the strength and expertise to serve a full range of individual and institutional investors’ financial needs. For more information, or to find an Ameriprise financial advisor, visit ameriprise.com.

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