PROVIDENCE – Citizens Financial Group Inc. is staffing up as part of plans to expand its wealth management business.
The parent company for Citizens Bank recently announced it will hire 200 new financial advisers and relationship managers in tandem with a new wealth management business for higher net worth clients. How many jobs will be in Rhode Island was not available – the company is still deciding where the new hires will work from, according to spokeswoman Eleni Garbis.
Citizens Private Client is expected to make its debut by the end of the year, offering customers with $200,000 or more in deposits or investments access to more personalized advice with a dedicated relationship manager, financial adviser and certified financial planner, according to a news release.
Ahead of this program, the bank is also offering perks to incentivize customers to start using the company for wealth management advice. The CitizensPlus benefits, available immediately, include credit cash rewards, lending discounts and a match up to $2,000 to customers who start a new wealth management investment relationship.
The expansion in wealth management comes after the company reported record quarterly wealth management income for the quarter that ended June 30, driven by increased investments and acquisitions.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
