For busy professionals, managing all aspects of their finances can feel like another full-time job. Emails ping at 6 a.m., invoices stack up by noon, and the demands of both personal and professional finances never seem to end. This is where private bankers can help.
Previously regarded as exclusive to the ultra-wealthy, more professionals are discovering that private banking is accessible to support their growing financial picture, says Nikki Rex, senior vice president and private banking manager with Arvest Bank – Tulsa Region.
“It’s a common misconception,” Rex explains. “Our clients are diverse, from small business owners to health care professionals. The goal of private bankers is to handle the financial complexities so our clients can focus on what they do best.”
While the qualifying amount varies by financial institution and region, clients who work with a private banker receive a more personal level of service than in traditional banking. A dedicated private banker handles everything from opening a checking account to coordinating a complex business loan.
Rex notes that clients who benefit from private banking are those with a variety of financial matters. “We’re there to simplify the process by serving as a single point of contact and providing personalized financial solutions,” she adds.
The Arvest Private Banking team collaborates with experts to help clients meet their goals. This approach includes a range of products and services tailored to essential banking services such as loans and lines of credit, investment management, estate planning and other financial solutions.
“Our clients are experts in their fields and find value in our ability to simplify their financial life,” Rex says. “This is especially true for small business owners and physicians whose passion and expertise are undeniable but whose financial complexity often requires the strategic guidance that a private banker can provide.”
A trusted private banker works closely with clients and advisors to find personalized solutions to manage complex financials. They can provide guidance to manage daily operations and help businesses expand when the time is right. Starting a new business? Private bankers can work with lenders on financing or connect clients to prospective partners. Starting a new residency? A private banker can help physicians secure a home loan with flexible underwriting, so clients can settle into the community.
Their needs aren’t just about the present, says Rocky Allison, vice president and senior private banking officer for Arvest Bank - Tulsa Region. Whether someone is early in their career or planning for retirement, a private banker can help with short- and long-term goals. “Private bankers don't just manage money,” she explains. “We see ourselves as partners in life’s big decisions, providing tailored solutions that fit our clients’ unique journey.”
At Arvest, the private banking team works closely with Arvest Wealth Management to help clients move from the "accumulation" to “distribution” phase. “Successful professionals work hard to earn what they have, so it’s understandable that they would want to ensure their estate is fully safeguarded,” Allison says. Private bankers can collaborate with financial advisors to create a retirement plan and work with trust officers to design succession plans for retirement, disability, or death, as well as insurance plans.
For Rex, the ability to help people reach their financial goals and ensure their legacy continues is why she loves her work. “Time is our most valuable asset,” she says. “Managing an increasingly complex financial life shouldn't cost us more of it.”
“Time is our most valuable asset. Managing an increasingly complex financial life shouldn't cost us more of it.”
“Private bankers don't just manage money. We see ourselves as partners in life’s big decisions, providing tailored solutions that fit our clients’ unique journey.”