3 Big Benefits of Working with Private Banking & Wealth Management
7/21/2021 12:00:00 PM
People with significant wealth often have more complex financial requirements, so Bell Bank’s private banking and wealth management departments are designed to offer specialized services for high-net-worth individuals and their families. These services address both personal and business financial needs and include access to a comprehensive array of banking options and services tailored specifically to what you need.
In a private banking relationship, your banker works as your go-to financial advisor:
- Assisting you with everything from deposit accounts and credit cards to consumer, business and home loans
- Ensuring your day-to-day banking goes smoothly
- Coordinating all of your loans with customized terms and preferred interest rates
- Connecting you with specialized services, such as investment management, financial planning, estate planning and personal trust
“We have some of the best financial planners and portfolio managers in the nation across our company,” remarks Paul Benson, senior vice president and private banking manager in our Fargo headquarters location. “We also have attorneys on staff who offer estate planning guidance. Our goal is to build long-term banking relationships, and the main advantage when you work with Bell is you have a team of people who really get to know you and pay attention to your banking relationship.”
Working with both private banking and wealth management at Bell can benefit you in 3 major ways:
- Comprehensive planning
The biggest benefit to working with Bell on every aspect of your banking is we can build the most comprehensive financial plan possible for you, because we’re able to attain a deep understanding of your family, finances and financial goals.
“Bell’s private banking team is made up of a group of sophisticated, experienced professionals,” notes Ben Allen III, senior vice president and private banking officer based in our Camelback, Ariz., offices. “When you work with private banking and wealth management at the same bank, we’re able to take a holistic approach to solving your financial issues in a harmonious way. When we all work together, we make clients’ lives easier and gain additional insight into how we can best serve our clients. Bell does a great job of knocking down department silos and serving clients the best way we can.”
- Continuous service
When you work with Bell’s private banking and wealth management teams, we’re able to help not only you, but also your beneficiaries, so you can relax knowing that even after your death, we’ll do whatever we can to assist your family and make sure your wishes are carried out.
“If you’re able to have a deeper banking relationship with clients, when there is a death in the family, they know they have a whole team behind them,” affirms Chris Theis, vice president and private banking team lead in Bell’s Duluth, Minn., location. “The best thing private banking offers clients is a very strong banking relationship."
- Increased efficiency
If your banking, financial and estate planning, investments and trust services are all handled at Bell, we can set up joint meetings, so we can make sure everyone is on the same page when it comes to your finances, and you don’t have to worry about scheduling multiple appointments.
“Joint calls and meetings provide clients with the full force of the bank and all we have to offer,” notes Lloyd Nelson, senior vice president and Twin Cities private banking manager. “Our bankers and advisors are continually learning to stay on top of the latest industry trends and best practices. For one person to know everything outside of their discipline is almost impossible. Working together is an effective and efficient way for us to bring the whole portfolio to the client.”
At Bell, we put your best interests first, so we’re not going to try selling you something you don’t need. Instead, we work with you to formulate a plan to help you work toward your financial goals in the best ways possible.
“Our process is a little different from everybody else,” Lloyd explains. “A lot of other shops want to sell their product first. We don’t do it that way. At Bell, we focus on financial planning first, and then figure out how investment management fits into the puzzle. Because of our experience level, we can review your financial statement and spot opportunities.”
If you’re looking for first-class service and a comprehensive approach to managing your finances, contact us at 800-709-5781 to find out how Bell’s wealth management and private banking teams can work together to help you.
Wealth management products are not FDIC insured, have no bank guarantee, may lose value, are not a deposit and are not insured by any federal government agency
This article has been written for general information. It is not intended, nor may it be relied upon, as tax or legal advice with respect to any matter. This article also cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by the Internal Revenue Service or other taxing authority.