Search I95 Business Magazine




Have You Considered Private Banking

August 2017

Bruce Caulk, partner of Naden/Lean LLC

Private banking refers to a suite of services offered by a bank to high net worth individuals (HNWI) designed to grow wealth. General wealth management strategies in banking and investment are reserved for HNWIs with at least $250,000 in liquid assets; however, many banks require at least $1,000,000 in liquid assets. Although bank customers with assets topping $50,000 may be able to take advantage of some of these services, banks usually reserve private banking to individuals with the means to benefit from an array of specialized financial solutions. It is not apt to define private banking as wealth management because private banking generally offers a much narrower set of financial options. A private banker provides strategies that can be applied to the assets the bank can access, while a more comprehensive wealth manager would develop broad strategies that include all of a client’s assets.

Benefits of Private Banking

Privacy – as the name implies, the services offered to the client remain largely confidential.

One-on-one service – The assignment of a relationship or account manager to handle a client’s assets allows the bank to develop strategies that are unique to the client’s financial situation.

Discounted services – The considerable assets that a HNWI brings to a banking institution is often rewarded by the bank by providing services, which may include tax preparation and planning, travelers checks or corporate checking at discounted rates as well as many other services.

High returns – Because banks devote highly trained staff and enormous resources to the management of HNWI accounts, most of these accounts receive returns on their investments that consistently outperform the market.

At Naden/Lean LLC, we work with a trusted network of bankers to manage your investments. For a list of recommended bankers that offer tailored banking strategies and solutions to your individual circumstances, contact me directly at 410-453-5500 or I95 Content Marketing

A partner of Naden/Lean LLC, Bruce Caulk provides professional services to businesses in numerous industries. Bruce maintains direct and consistent involvement with his clients, which allows for complete accessibility to discuss and advise on matters of importance.

Naden/Lean LLC