Skip to main content

Smart Financial Planning: 3 Signs You Need a Private Banker

Asking someone to give up their smartphone is a difficult request. From getting around town to communicating with coworkers, we rely heavily on computers, whether pocket-sized or desktop-sized, to keep things in order. Even our finances have benefited from increasing technology with money-management software, tax-filing apps, brokerage websites, and mobile banking making it easier to manage our assets.

As our financial lives become more complex, so do our questions; at some point, the guidance from Siri®and Google™ won’t be enough. This is when you need to enlist the help of a private banker. If you aren’t sure whether that moment has come for you, here are three signs it’s time to shift from computer to human expertise:

You have big financial and personal goals

Until now, you’ve had a good idea of how to achieve your financial, professional, and personal goals. You knew how much you needed to save for a wedding, how much it would cost to go to graduate school, how much was left to pay on your student loans. But today, as you begin thinking longer term about providing for a growing family, investing in real estate, starting your own medical practice, or making partner at your law firm, the future – and how your finances will help you get there – is less clear.

Experienced private bankers coach clients through major life milestones like these every day. When there are many financial factors to consider and you’re daunted by the sea of options, it helps to work with someone who understands where you’re coming from, listens to where you want to go, and helps you find the right path forward.

You want expert advice tailored to your specific needs

For most of your life, the standard rules-of-thumb for financial management have been enough to keep you on track. You didn’t spend more than you earned, you made on-time credit card and student debt payments, and you contributed as much as you could to your retirement fund. But the one-size-fits-all financial solutions may not be the best way for you to grow your wealth and achieve your unique goals.

Working with a private banker who knows your financial history and personal goals means you can create and execute a financial plan that fits your distinct needs. By partnering with a banker who is committed to helping you identify the right combination of financial products and strategies, you’ll be in the best position to succeed.

You want to spend more time on what really matters

Managing your money didn’t used to take a lot of time – 401(k) contributions were deducted from your paycheck, those checks were deposited directly into your bank account, and that balance could be used to auto-pay your credit card every month. Not having to worry much about financial management meant you had plenty of time to pursue your interests and passions. Now, the hours you spend thinking about and managing your money is taking time away from what’s important to you: being with your family, exploring a new business opportunity, or volunteering for a cause close to your heart.

Partnering with a private banker means sharing the responsibility of financial management with someone you can trust. Instead of independently researching and mulling over how to allocate your assets, you can work with an expert who will narrow down your choices and walk you through their recommendations. You’ll be confident that your money is in good hands while getting back to what matters most to you.

 This article was written by Arden Elizabeth from Financial Technology and was legally licensed through the NewsCred publisher network.

The views and opinions expressed in this article do not necessarily represent the views and opinions of First Republic Bank.


Related Content


The Current State of Emerging Manager Fundraising in 2023 The Current State of Emerging Manager Fundraising in 2023

Private debt (or credit) has increasingly become a key component in private equity dealmaking.  Read more


The State of Gender Compensation in Venture 2022 The State of Gender Compensation in Venture 2022

First Republic Bank is pleased to partner with J.Thelander Consulting, Inc., to provide compensation data and analysis for women in U.S. venture capital (VC) firms. Read more


Fundraising Strategies Every Investor Should Know Fundraising Strategies Every Investor Should Know

Understanding the goal and overall process of the investor is important for any GP of a venture fund. Read more

Connect with us

Your dedicated team is ready to serve you and looks forward to speaking with you about your tech banking needs.

Get started

You're now leaving First Republic.

By clicking Continue, you will be entering a third-party website. First Republic is not responsible for the content, links, privacy policy or security policy of this website.

Complete the information below to download the report.