Lead with confidence: 72% of small biz owners
are confident in the future of their businesses.
HOW TO CHOOSE
A PRIVATE BANKER
Wondering how to find a
private banker to guide you
through personal financial
decisions and investments?
Consider these points.
> SIZE. Instead of defaulting
to a national or international
bank, investigate what smaller,
local banks can offer. Many
small- to mid-size banks offer
the same range of services as
larger banks but with more
personalization.
> TRUST. Private banking is
a concierge service. Seek a
private banking team who is
personable and can efficiently
and effectively manage any
challenges. Learn about your
team’s experience in the
appropriate fields.
> SERVICES. What private
banking services are the most
important to you? Determine
what services you’re looking
for and prioritize them by
importance. Then, use that list
to find the bank that will best
meet your needs.
Private Banking:
A Balancing Act
Your day-to-day schedule is filled with the to-dos of being an
entrepreneur—overseeing operations, human resources, payroll,
you name it. But are you so entrenched in your business that
you’ve neglected your personal finances?
Many business owners have a laser-sharp focus on managing their business—
so much so that they may overlook what’s happening behind the scenes in their
personal finances. It’s crucial to keep an eye on your short-term and long-term
financial goals, from managing cash to maximizing retirement savings.
Here are three basic ways to start paying attention to your personal financial
goals while managing your biggest asset—your business.
Î Î
Build an emergency fund. Work on a short-term savings goal that enables you
to cover personal living expenses if the business takes a downturn.
Î Î
Diversify your investments. Talk with your private banker about investing
funds beyond your business and industry. Overinvesting in anything, especially
your own business, could make you vulnerable to shifts in the market.
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Plan for your future. Ask your private banker about the best way to save
for your future, including retirement and a college savings account for children.
Seek Professional Advice